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Fidelity Investments sign on a building

Industry Spotlight > Clearing and Custodial Firms

Fidelity to Hire 4,000, Including Advisors, in First Half of 2023

By Jeff Berman

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What You Need to Know

  • The announcement follows years of record hiring, including hiring more than 17,000 associates in 2022.
  • Around half of the new positions will be client-facing.
  • The company says it is focused on long-term investments in its staff.

Fidelity Investments plans to fill 4,000 positions in the first half of 2023, following several years of record hiring, and its new hires will include advisors, a company spokeswoman told ThinkAdvisor on Friday.

Fidelity’s hiring efforts are “focusing on customer service and tech,” the firm said Wednesday in a statement releasing its annual report. The company didn’t specify how many of the new hires would be advisors.

“We are hiring for client-facing roles, technology roles, and business support functions,” the spokeswoman said Friday. “Advisors are part of that first bucket, client-facing hires.”

The spokeswoman said 45% of open roles positions would be client-facing, including customer service representatives, financial consultants, licensed professionals, and sales and relationship management positions supporting retail, workplace and intermediary clients.

Technology hires this year will represent 18% of open roles and include “full-stack software engineers, data scientists, mobile/IOS engineers and architecture professionals,” she said.

Support function hires will be 37% of open roles and include operations, client services, product management, marketing, human resources, finance and compliance, she added.

The privately owned firm has been rolling out new benefits to make long-term investments in its staff, including a fully funded undergraduate degree benefit. “Fidelity offers career pathways as part of a revised onboarding experience designed to promote” mobile tech and experiential learning, it said in the statement.

“We take a long-term view to investing in our overall workforce and our people, just as we do in our businesses,” according to Kirsten Kuykendoll, head of talent acquisition at Fidelity.

“We’re not only continuing to fill new roles in 2023, but we’re investing in the people who work here through our benefits, career, and development opportunities,” she said in a statement. “We encourage our associates to ask, ‘What’s next?’ and learn-by-doing across our company, which offers an unmatched amount of career exploration pathways.”

Fidelity’s “people-focused investments are driven by another year of strong financial performance” across its businesses, as highlighted in the 2022 report, it said.

The company ended 2022 with 68,000 associates, the spokeswoman said. She did not specify how many of those were advisors.

In the report, Abigail P. Johnson, Fidelity CEO and chair, said the company “filled more than 17,000 associate roles across all job functions, including customer experience, technology, product management, and investment research.”

Fidelity also invested $4.2 billion to “maintain, enhance, and upgrade the company’s technology systems,” Johnson said. “These investments in hiring and technology helped us deliver the elevated level of customer service that our growing customer base expects—such as our work this past year to create financial plans for seven million individuals across Fidelity’s retail brokerage and workplace benefits businesses.”

Asked if Fidelity can say how many positions it expects to fill in the second half of 2023, the spokeswoman said: “We’re sharing projections through the first half of this year. Our hiring plans will continue to reflect the needs of our business and, most importantly, our customers.”

(Image: Shutterstock) 

Jeff Berman

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