Fidelity Investments Reviews

Updated April 22, 2015
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556 Employee Reviews

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  1. Helpful (1)

    Great career jobs with layers of bureaucracy

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

    I worked at Fidelity Investments full-time (More than a year)

    Recommends
    Neutral Outlook
    Disapproves of CEO
    Recommends
    Neutral Outlook
    Disapproves of CEO

    Pros

    On-boarding process has plenty of Kool-aid to drink (aka. "we're amazing and nothing wrong") that gets you excited for your new job, Plenty of movement during certain periods of the business cycle, lots of cross training, great retirement benefits and health plans, investment in employees, pay is great, clean, bright work environment. Perfect for a long term career employer.

    Cons

    Leadership is sub-par, upper management is extremely disconnected with the front line representatives and doesn't enable mid management, lots of politics, office culture seems inauthentic, very low flexibility on work schedule, forecasting always off, talk about providing best customer service in industry yet not providing tools or hiring sufficient staff, extremely restrictive of employee trading (no "bearish" positions, very hard to qualify for upper level options trading) due to policy not regulation, few rewards for service reps - mostly available in sales. Very hard to effect any real change.

    Advice to Management

    Listen to your front line - they talk with your customers. If they're frustrated they're holding forever, hire more representatives. You have enough turnover and attrition to other financial firms to afford it.

  2. Tier 1 Customer Service

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Tier I Customer Service Representative in Research Triangle Park, NC
    Former Employee - Tier I Customer Service Representative in Research Triangle Park, NC

    I worked at Fidelity Investments

    Pros

    It was a great company to work for, lots of opportunity to move up. Great leaders/managerial support.

    Cons

    There is a bit of politics between some supervisors when trying to move up. I was hired on a contact with the likelihood of becoming full-time. The decision was left to supervisors, some supervisors have only worked with some for only weeks.

  3. Helpful (2)

    Moving in the wrong direction as they try to capture more of the DC and pension of the retiring baby boomers.

    • 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

    Doesn't Recommend
    Negative Outlook
    Approves of CEO
    Doesn't Recommend
    Negative Outlook
    Approves of CEO

    Pros

    Great Benefits. Client surveys are extremely important, almost too important. Company is strongly client focused and looks out for the clients at most levels. Walking a fine line between companies best interest and clients best interest as of late.

    Cons

    Lots of shuffling around, but little advancement. I see the same co-workers and management moving around, but little advancement, even at the VP level. Managers are chosen by metrics and "Personal Brand" which is simply hear-say. Advancement is limited to very specific paths. It's rare to see someone move outside of these paths.
    So many managers with so little formal education in management or prior experience. Stunned at lower level management incompetence, although they are powerless to promote change as upper management directives and metrics are etched in stone and beyond reproach as the higher level VP's strive to hit their own metrics at the expense of their departments well being. No happy work balance here. Voluntary/mandatory overtime is the norm, as the company is completely understaffed on the front lines. Do not give your opinion if asked, it can and will be used against your for the rest of your career and becomes part of your "Personal Brand". Better to just enthusiastically agree to whatever one of the many changing priorities for the month, smile and give your whole hearted support.

    Advice to Management

    Back off on the metrics, hire more people. The days of "More production from fewer heads" are over. We are no longer in recession and it is going to get MUCH more difficult to find and keep new hires as we move into 2015. All financial companies are going after the same pool of candidates. If you don't take care of your reps, they will leave you for greener pastures, as is evidenced in the new hire turnover rate.

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  5. Helpful (1)

    The Fidelity experience was rewarding and provided a constant pace of change in view of market and regulatory shifts.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Manager in Providence, RI
    Former Employee - Manager in Providence, RI

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

    Recommends
    Neutral Outlook
    Approves of CEO
    Recommends
    Neutral Outlook
    Approves of CEO

    Pros

    Steady investment in technology although slowing
    Competitive environment
    Privately-held
    Long-term view of the business

    Cons

    Downturn in talent including leadership
    Challenged with maintaining culture due to firm size; red tape is burdensome
    Cost conscious; shifting compensation structure

    Advice to Management

    Regain focus on talent recruiting and personal training/development and increase innovation and agility.

  6. Helpful (1)

    Great benefits and peers, poor judgement when selecting managers.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Premium Financial Service Representative in Jacksonville, FL
    Current Employee - Premium Financial Service Representative in Jacksonville, FL

    I have been working at Fidelity Investments full-time (More than a year)

    Recommends
    Neutral Outlook
    Recommends
    Neutral Outlook

    Pros

    Great retirement benefits, above average insurance, and generous when it comes to professional training. Very customer focused, which is a pro if you are a customer/client.

    Cons

    My manager loves to over coach you to the point you feel as though you are incompetent. There are others that do the same. This is part of the coddling Fidelity does to their clients. If you are in a service role in a phone site you will be expected to place trades that fall into the complicated and varied internal rules that often defy logic. If a client wants to place a trade and you place it without questioning the client on why and how they are wanting to place it, you will be scrutinized. Fidelity's internal trading and distribution rules imply that all of their clients are idiots and we must save them from themselves. If you miss the opportunity to save the client from their own actions you will be charged an error. They will tell you how easy it is to exceed the quarterly bonus and get a full payout, but it is far from the truth. You have to trade error free, have efficient calls, meet sales lead goals, and have positive client surveys. The entire team has to meet their goals in order to maximize payout. Without significant experience most error free traders don't have efficient calls, because they are spending ten minutes a trade to make sure one of the silly rules isn't being violated. If you receive good surveys then your probably not meeting your lead goals, because despite the belief, not every client wants to be probed for opportunities. I am currently seeking a non-phone based finance job elsewhere.

    Advice to Management

    Choose professionals to manage teams, not just yes men and women that you worked with at previous firms.

  7. Helpful (9)

    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)

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

    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 Management

    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.

  8. Helpful (2)

    It was ok. Good place to do time but better place to leave.

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

    I worked at Fidelity Investments

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    Pros

    Paid well. Very good benefits. Top of the industry so good learning opps and street cred.

    Cons

    Limited creative thinking and ability to make a difference. Claim they want to be high tech leaders but wait for leadership to tell them what to do.

    Advice to Management

    It's not your daddy's company anymore...

  9. Helpful (2)

    Good place to start, but do not stay here for long.

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

    I have been working at Fidelity Investments full-time (More than 3 years)

    Recommends
    Positive Outlook
    No opinion of CEO
    Recommends
    Positive Outlook
    No opinion of CEO

    Pros

    You have the potential to learn a lot about the business very quickly

    Cons

    There is almost no upward job mobility, and the pay is very low for the industry. There is also a complete lack of job security.

  10. Helpful (2)

    Used to be good place

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Senior Database Administrator in Raleigh, NC
    Former Employee - Senior Database Administrator in Raleigh, NC

    I worked at Fidelity Investments full-time (More than 5 years)

    Recommends
    Positive Outlook
    No opinion of CEO
    Recommends
    Positive Outlook
    No opinion of CEO

    Pros

    Great benefits and work culture .

    Cons

    Too much Bureaucracy and Process which is killing work life balance.

    Advice to Management

    Treat all employees equally and dont let politics prevail.

  11. Helpful (1)

    IT Product Mgr

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

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

    Recommends
    Neutral Outlook
    Approves of CEO
    Recommends
    Neutral Outlook
    Approves of CEO

    Pros

    Great people and good communication

    Cons

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

    Advice to Management

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

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