Fidelity Hiring 4,000 Workers, Including Advisors
The firm plans to hire thousands of financial advisors, licensed reps and customer service employees over the next six months.
Fidelity Investments is seeking to fill approximately 4,000 new client-facing positions across the U.S. over the next six months due to “unprecedented customer growth and engagement” in its business.
According to a company announcement, the positions include financial advisors, licensed representatives and customer service employees involved in personal investing and workplace investing. It hopes to fill about half the new positions by year-end and expects the number of client-facing associates will grow 15% this year.
The privately held financial services firm is also actively recruiting 1,000 college and university students for its 2021 summer internship program and 500 college graduates in 2021 for its post-graduate training programs and looking to hire software engineers.
“We continue to see very strong growth, both in new accounts to Fidelity as well as deeper engagement from our existing client base,” said Kathleen Murphy, president of Fidelity Investments’ Personal Investing division, in a statement.
“Our greatest asset and largest source of pride is our people — we hope you will consider joining the team,” Murphy wrote in a Linkedin post about the new opening. Fidelity currently employs 45,000 U.S. associates, half of them working in client-facing positions.
In a separate statement, Murphy said the firm continues “to see very strong growth, both in new accounts to Fidelity as well as deeper engagement from our existing client base.”
Fidelity has seen a 24% increase in households engaged in financial planning interactions during the second quarter compared with the same period a year ago, according to a company spokeswoman.
Recent market volatility and growing economic complexity “has driven millions of new and existing customers to open accounts, increase trading activity and contribute additional savings,” notes the Fidelity announcement.
Fidelity would not disclose how many advisors would be hired over the next six months nor the number of licensed reps or customer service employees but noted in its press release a priority “to hire individuals who share the company’s passion for customer service.”
A spokeswoman described some of the “high-level skills” it was seeking for the new hires, as follows:
- For licensed professionals, individuals with Series, 6, 7, 9/10 and/or 24 licenses along with “a passion for helping people plan their financial futures.”
- For financial advisors, individuals “who are people-focused, collaborative and driven to provide consultative investment and planning guidance, manage high-net-worth client accounts and account teams, and act as liaison between customer and Fidelity to drive customer satisfaction.”
- For customer service reps applicants with “relationship building skills; experience in service or hospitality industries” in people-facing positions a plus.
Bill Ackerman, head of Human Resources, noted that Fidelity has enhanced employee benefits during the pandemic crisis, offering more flexible work options, a work-from-home expense allowance, a caregiver subsidy and access to elder and child care coordinators.
Fidelity has $8.8 trillion in assets under administration and $3.5 trillion in assets under management and serves more than 32 million individuals, 22,000 businesses (in their employee benefit programs) and 13,5000 institutions.
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