Fairstone
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Fairstone Employee Reviews for Loan Specialist

Job Title
Loan Specialist18 reviews
Location
Canada18 reviews
Found 18 reviews matching the search
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3.0
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Management; at least in the branch I worked in were catty, unprofessional, disrespectful and lacked leadership ability with an unsettling turnover rate. Upper management seemed somewhat better, but a bit disconnected from lower levels. The job overall is decent but repetitive. The 8- 9 hour days can be very long, particularly if your immediate supervisor only makes your time more miserable. I’m grateful for the experience I gained, but far more grateful I got out when I did.
Pros
Good pay, benefits.
Cons
Management, work / life balance.
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Official response from Fairstone
27 July 2020
We are disappointed to hear this, but the feedback is valuable to us as we focus on improving and developing our existing manager training programs. We hold an annual forum specifically dedicated to developing leadership skills among company management. In addition, employees have access to an employee assistance program, ethics line and an annual, anonymous employee engagement survey. We're committed to maintaining a working environment that reflects our core values of Respect, Accountability, Integrity and Recognition.
1.0
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The benefits are some of the best I've seen, but not worth the constant stress and moral feeling of doing something so wrong.

You solicit most of the day, and make collection calls. You're expected to call people you know, who may not feel comfortable with you knowing their sensitive financial information. Policy is broken just to get the deal.


The gossip that tenured employees partake in is rude and unprofessional, about each other and about customers.
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Official response from Fairstone
27 July 2020
Thank you for your review and comments. Fairstone has been providing lending services to Canadians for nearly a century. Customer service is of paramount importance to us and we've fostered an environment where everyone, both our customers and our colleagues, are treated with respect. We do not tolerate behaviours that negatively impact our customers and we encourage employees to use the channels available to them such as the ethics line and HR line to discuss any concerns they may have.
5.0
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It was very nice working at fairstone. Learn a lot about financing and about open ended conversations with customers.Learn so much Always thankful to them for giving me this opportunity to grow in this feild.
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1.0
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You’re given sales targets that continually go up. After 4 years I’m amazed I can still hit them. Numbers are all that matters you’re only as good as the last loan you get the company. Depending on when you get hired the most you will get is a month of training and then will be expected to hit normal sales targets in your first full month. Other employees gossip about everyone. Very hard to work up the chain there are not a lot of branches and upper management promote those they like, most job postings the hiring manager already has who they want in mind and that’s who gets the job. It’s a popularity contest. District managers will try to make you do things against policy. Customers and employees in the branches are just numbers. They don’t care how you get to your targets as long as you get there and you get reprimanded for not selling “optional products”. You have to call all day long unless you are closing a loan. You call to solicit people who really can’t afford it or you call to collect payments. Only thing I will say is they have a good benefit program and IF you can hit your targets they have good monthly bonuses and a points program.
Pros
Points program and bonuses if you achieve goals.
Cons
Long hours, bad management
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2.0
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Unequal treatment of staff, minimal coaching versus 100% attainment of very high targets. Long term staff made it a toxic work environment. Stay away.
Pros
Work site is in the office and business skills are applied
Cons
discrimination
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5.0
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Super excellent place to work and nice people understanding, excellent service. Management is great and its diverse and encouraging place to work. Wi
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5.0
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If you like talking and sales then this job is for you!!! If you like an administration job where all you do is answer phones and paper work than this job isn't for you. The job isn't easy you do have to work to excel at it but the reward is there. If you are self motivated and have lots of drive you can make wicked bonus. There is also room for advancement. The benefits are top notch as well. I enjoy my job and work with a great team. Everyone here helps each other out and we have a great support system from the employer.
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4.0
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The job was just not for me. But the envrioment in which I worked with my boss and co-worker was fun and relaxed. I appreciate all that Fairstone taught me and all the amazing memories made there.
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3.0
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A typical day at work includes but is not limited to: sales and collection calls, completing customer applications and performing credit and approval checks. Presenting legal loan documents with knowledge and use of the privacy act and maintains excellent customer service in a small team-based setting. There is always something to do and can be a very rewardingly productive business to work in.
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4.0
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fast paced. associates are very helpful. you just need to exceed your targets everytime so you get bonus. you get to learn a lot of things about finances.
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5.0
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My first impression is a positive one. Seems like a reasonably ran company with realistic self-awareness and goals. Training is extensive and vacation is 3 weeks which is amazing. Definitely not a bad job for a professional looking for regular hours and a good company culture.
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5.0
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excellent place to work and excellent team. great management and awesome people, it feels like family working with them, they appreciate and always ready to teach
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2.0
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I Felt like I was back in high school again. You are constantly being micromanage and the manager had a terrible short fuse with customers and staff. The other staff were awful to work with. They were bullies to say the least. It was an awful work environment.
Pros
None
Cons
Everything
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Official response from Fairstone
1 October 2019
We’re saddened to hear about this experience. We do not tolerate bullying and we take these accusations very seriously. We have a number of internal resources available including HR representatives, an ethics line, and access to Employee Assistance Program with a third party that is completely confidential for employees who need additional means of communication.
5.0
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I am still new with the company (3 months in) but having come from a similar company in the same industry, I can confidently say that I made the right decision in joining the Fairstone team.

Typical workday involves selling personal loans and insurance products to new and to existing clients. Solicitation & delinquency calls, as well as administrative work, round out your day. Excellent and supportive management and team environment.


Base salary is competitive with attainable targets - monthly bonus if you hit your target which is very doable. Three weeks paid vacation after your 90 days is up - say whaaat?! Management really wants to see you succeed and so far has done an excellent job making me feel supported in this role.


Consistent schedule with the option to flex if necessary - great work/life balance.
Pros
Monthly bonuses, work/life balance, team environment
Cons
None come to mind!
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2.0
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Was not for me. Very minute to minute managed. Watch and listen to every thing you do, down to your bathroom breaks, and confront you about what you’re doing, when you aren’t doing anything wrong and working hard. Don’t like the product and I feel it puts people in a bad situation in a worse situation with debt. They like to think it’s helping people. Whatever helps them sleep at night. Bully people when they can’t pay (after they clearly can’t afford the loan you sold them on) and threaten to take all their furniture and even go to their work and house to collect. Which I’m pretty sure is illegal. Resigned due to my moral values.
Pros
It’s a job I guess.
Cons
Kills your soul
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Official response from Fairstone
1 October 2019
Fairstone has been providing lending services to Canadians for nearly a century. These relationships have been built on trust, respect and responsible conduct. We have a number of oversight processes including a comprehensive compliance function. We foster an environment where everyone, both our customers and our colleagues, are treated with respect. We have an Employee Assistance Program with a third party that is completely confidential and we also make available to all employees a confidential ethics reporting line.
5.0
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Living true to the dictum of the North American dream, this company is a haven of opportunity. It will welcome you with open arms and help you build a life and a career in financial services for yourself. This job will demand hard work and lots of it but its all worth your while at the end of the day.

I have been here and year and a half and this company has helped me grow as a person (in terms of my skill-set) and professionally (within the organisation).


I would recommend this company to anyone willing to work hard and who is ambitious.
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5.0
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Working here for almost a year I can safely say the support from all levels of management are there to help if you ask! Team work is important when working in this type of setting. Getting along with co-workers is key. The company has amazing incentives to keep morale up and nothing beats the Monday to Friday setting. Advancement is available as long as your committed and fine with relocating. I see myself staying here until retirement.
Pros
Room for advancement. Good hours and benefits
Cons
Needing to turn down customers.
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5.0
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Fairstone is a great company to work for the team here always supports each other and while it can be stressful at time the great incentive program and benefits more then make up for it and make your hard work completely worth your while. This is a company where hard work is celebrated and rewarded not just in your branch but through out the whole company.
Pros
great benefits, Great incentive program, healthy work environment
Cons
Can be stressful at times
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