Fidelity Investments

  www.fidelity.com
  www.fidelity.com

Fidelity Investments Reviews

Updated December 13, 2014
Updated December 13, 2014
1,934 Reviews
3.6
1,934 Reviews
Rating Trends

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Fidelity Investments CEO Abby Johnson
Abby Johnson
50 Ratings

Review Highlights

Pros
  • Good work life balance with encouraging co-workers for the most part (in 166 reviews)

  • Great Benefits, Employee friendly, but sometimes overkill with thousands of policies (in 210 reviews)


Cons
  • Company expects all dedication to work with little regard to work/life balance (in 52 reviews)

  • Lot of high level (senior management) politics played in a dirty manner (in 70 reviews)

More Highlights

502 Employee Reviews Back to all reviews

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  1. 1 person found this helpful  

    IT Product Mgr

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Fidelity Investments as a contractor (less than an year)

    Pros

    Great people and good communication

    Cons

    Some Mgmt has been there for a while and think they are untouchable.

    Advice to ManagementAdvice

    Ask your people for ideas .. more one on one's with tasks and project feedback !

    Recommends
    Neutral Outlook
    Approves of CEO
  2. 2 people found this helpful  

    Little opportunity for advancement

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - 401k in Raleigh, NC
    Current Employee - 401k in Raleigh, NC

    I have been working at Fidelity Investments

    Pros

    Good benefits and this is an ethical company

    Cons

    Being young is essential for advancement here.

    Advice to ManagementAdvice

    Focus on the assets that older employees bring to the table.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  3. 1 person found this helpful  

    Milk Them For All You Can

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Vice President/Senior Account Executive
    Former Employee - Vice President/Senior Account Executive

    I worked at Fidelity Investments full-time (more than 10 years)

    Pros

    Good place to build your career in financial services because of the training, structure, pay, and benefits. Good brand recognition from customers, but this can turn into a negative if you lack humility. Most reps are not as good as you think. The green machine is doing a lot of the heavy lifting, but those who are good at building value and relationships can transfer those skills to an RIA and do really well.

    Cons

    - Although micro-management is mentioned in almost every review, I think it stems from not trusting your veteran representatives. Fidelity feels like they have to control people from the top, having branch managers regurgitate sentiments from the top. This also leads to *bleep* rolling downhill. Some managers did prove themselves as good salespeople, but eventually have to drink the Kool-Aid or they won't last long. Either that or they give up because they can't change the system. Other managers were opportunists who rose through the ranks quickly, moving fast enough before people can realize they aren't as good as they appeared.

    - Compensation: Yes, you can make very good money here, but if you're really good, you can make way more outside. Compensation is figured out ahead of time and they reverse-engineer the compensation plan to get AE's back to target comp. The last couple of years, they've reduced some of the pay, like basis points on new flows, coinciding with the S&P at historical highs. Oddly enough, they had a reduction in force in 2009 because they based payroll on the S&P and had to cut people. So when the market's down, you're screwed, and when the market's up, you're also screwed. Ultimately, you can't keep lying about AE/SAEs being in relationship roles when your compensation is still based on selling products. And this relationship model is 5 years old.

    Advice to ManagementAdvice

    Milk them for all you can.. this statement is advice for reps to take everything you can from Fidelity before you move on to bigger/better things. It certainly is what management is trying to do to you and clients. Max out your benefits, get your CFP on their dime, get vested, then leave! Every time there's turnover, the quality of reps degrades but management doesn't care until they lose more assets than they bring in. The industry has been evolving into the RIA model and Fidelity has tried to follow, but they can't change fast enough because too many managers are interested in self-preservation.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
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  5.  

    They were ok

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Financial Representative in Westlake, TX
    Former Employee - Financial Representative in Westlake, TX

    I worked at Fidelity Investments full-time (more than an year)

    Pros

    Work-life balance was adequate

    Cons

    Low Compensation, and training was sometimes excessive

    Recommends
    Positive Outlook
    No opinion of CEO
  6.  

    Working in fidelity investments company

    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Fidelity Investments

    Pros

    Good work environment
    Employee friendly
    Good support to newly hired employee
    Quarterly Team outing
    Sodexo food coupons every month
    Good and secured transport facility

    Working in fidelity investments makes you feel good because of these advantages mentioned above. The company is located at very good place. I worked in Embassy Golf links office. It was really cool.

    Cons

    Salary is bit less
    Growth is for only those employees who works consistently
    When there is heavy load of work, you cannot leave the desk

    Advice to ManagementAdvice

    Increase or change the compensation plans for the employees. Salary is what I'm talking about. For new employees salary is very less. And the management is very good. well organised. Please make sure you continue the same.

  7. 3 people found this helpful  

    Burn Out from Politics - Not from Call Center Work.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Fidelity Investments full-time (more than 5 years)

    Pros

    Health benefits are great, with different options/price levels to choose from. Great 401k/Profit Sharing. If you come in knowing little to nothing about finance - they are willing to train, if you are willing to put in the work. The sponsor & pay for licenses. If you are a personable person and like working with the public, you will enjoy the customer base for the most part. Their technology in the call center has come a long way since I first started, so those that might complain about it here with less than a year of service should consider themselves lucky. Finally, misery loves company - so you'll have some great camaraderie with your fellow employees!

    Cons

    I don't know about other call centers in the company - but in ours, they schedule overtime automatically into your schedule then you have to opt out by a specific time otherwise you're expected to work it. People on here keep calling the vacation time "PTO" but it's not truly. It's accrued vacation time, max of 4 weeks a year (depending on years of service), and it's use it or lose it (no carry over to next year). The NH call centers are "triple AAA" rated, meaning if there is a weather event or crisis in another center, we cover for them if they need to close, and if we have bad weather here - we're still open regardless. In the call center, you have to schedule your vacation time about a year in advance, but they do give you the option to change dates through the year. Vacation date availability is doled based on seniority in your "gate," but to be honest, this is really the most fair way to do it. Just don't expect to have any big holidays off in your first couple of years there is what I'm saying.

    There's little upward mobility. They have a Management Apprenticeship Program, but the people I've seen go into it aren't those that work their tails off - it's those that buddy up to their manager. When you come out of the program, you might go right back to your old position, until a manager position opens up - eventually. Also, on this vein - I started the company working a late second shift, but needed to change to a first shift for personal reasons. My manager at the time was resistant to have me move - not because we were shorthanded on the 2nd shift - he said 1st shift was reserved for those who "earned" it, and that it was a "reward." Now there are times when people are actually HIRED for 1st shift, so how is that a reward for those who are just hired? Nor am I a lackluster employee.

    As a rep over 6 years, I've probably had 10+ managers - and my position hasn't changed. So it's very hard to know what is expected of you, and to truly succeed. With having so many managers, any goals that I've set with previous managers have gotten lost and I've had to start from the bottom. If you want something for yourself, such as a new position, you better work for it, and work fast. Also, don't ever get comfortable at your cubicle, you will move. Alot.

    If you ever take a Leave of Absence, expect that when you come back, that the call center may have been reorg'd and your position as you knew it when you left is no longer available, and the new position that is taking over may not be offered to you.

    There are no COLA raises.

    Finally, if you ever have a problem with a manager, the burden of proof is entirely on you to prove you are being mistreated somehow. Management sticks with Management, and HR will listen but is more likely to provide "helpful" advice for conflict resolution than to step in, unless you're accusing them of a major infraction.

    Advice to ManagementAdvice

    Start sending out the "anonymous" employee survey again, but make it more open-ended so that employees can really voice what is going on in the company. When it wasn't sent out this year, it felt like a slap in the face, like my opinion wasn't valued any longer. People are too afraid to use the work message boards or "rock-breaker" tool to speak about things like work/life balance, problems with management, lack of promotional opportunities, and a poor pay structure. I think we all enjoy expensive Holiday parties, but we could do without if it meant more money in our paychecks - especially as inflation continues to rise and our paychecks continue to shrink (what with our rising medical costs!) Keep HR Solutions open later for employees - many of your employees work strict call center hours, and are not able to speak with HR during the work shift, and are then not able to reach them after their shift ends. Personally, I think Fidelity has the opportunity to be in one of those "10-Best Places to Work" lists because of their campuses and their benefits, but on a day to day basis they need to treat their employees like people and not the cattle that they have in fields in Westlake.

    Recommends
    Neutral Outlook
    Approves of CEO
  8. 1 person found this helpful  

    Just a Job

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Financial Representative in Merrimack, NH
    Current Employee - Financial Representative in Merrimack, NH

    I have been working at Fidelity Investments full-time (less than an year)

    Pros

    Quarterly bonuses and good benefits. If you stay at the company for 30+ years, you're all set for your retirement.

    Cons

    Sales skills required for advancement. Essentially required overtime in tax season. Not a lot of room for advancement, despite management's statements. Desirable positions are highly competed for. Same positions at other companies have higher pay.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  9. 1 person found this helpful  

    Overall working at Fidelity was good.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Investment Sales Representative in Jacksonville, FL
    Former Employee - Investment Sales Representative in Jacksonville, FL

    I worked at Fidelity Investments full-time (less than an year)

    Pros

    Great way to work your way up if you are fresh out of college. Bonuses are higher in fin'l services than other places and Fidelity will pay you quarterly bonuses plus profit sharing bonus. Fidelity teaches you how to ask questions in discussions w/ clients so you can better understand who your client is and what solution fits best. Good career path for goal driven young people as they can become managers. Recreation room with video gaming system and ping pong tables. Company loves to hire internally for regional offices.

    Cons

    Unfortunately to excel you simply have to take more calls than anyone so you can outperform in your metrics. A 45 minute discussion w/ your client about how best to invest his/her money is a stat killer. Big focus on pushing people to 'do it yourself' online. I've been in fin'l services for 9 years...young managers aren't good managers. Fidelity does allow people to become managers when they are not skilled enough to do it. As a seasoned outside person who started with Fidelity, their max starting salary to outsiders was $45k...below what seasoned people make. Phone center will always suffer from the need to have people adhere to their schedules 'on phone' times.

    Advice to ManagementAdvice

    Promote people who have the ability to think like a manager, not someone who worked the Help Desk for a period of time. Increase the starting salary for outsiders.

    Recommends
    Positive Outlook
    Approves of CEO
  10.  

    Not Ideal For IT

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Associate Software Engineer Developer in Cary, NC
    Current Employee - Associate Software Engineer Developer in Cary, NC

    I have been working at Fidelity Investments full-time (more than an year)

    Pros

    Laid back and friendly culture in most departments. Great work-life balance and retirement benefits. Plenty of opportunities for growth.

    Cons

    Although Fidelity is trying to make technology a focus, at the end of the day it is still a financial services company and IT will always come second. Since Fidelity is such a large company with MANY security concerns change comes at a very slow pace, which can be frustrating as a developer.

    Doesn't Recommend
    Positive Outlook
    No opinion of CEO
  11.  

    Good place to start, especially if you want to go into sales

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Financial Representative in Covington, KY
    Former Employee - Financial Representative in Covington, KY

    I worked at Fidelity Investments full-time (more than an year)

    Pros

    Great benefits, good work and life balance. They do a great job of training and helping employees get through their licensing tests. Lots of career advancement oppurtunities, especially if you're looking to go into sales.

    Cons

    During the busy season (November to April) there is an ask that you work 8 hours of OT time a week, which can be difficult if you're working on a graduate degree, CFP or CFA. Also, it's a bit of a grind taking call after call that can wear on the employees.

    Recommends
    Neutral Outlook
    Approves of CEO

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