Fidelity Investments
3.4 of 5 1,699 reviews
www.fidelity.com Boston, MA 5000+ Employees

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Great place to begin a career in Financial Services

Investment Solutions Representative (Former Employee)
Westlake, TX

ProsFidelity does a great job at teaching their employees the basics of financial services. Their benefits are some of the absolute best in the industry as well. 401k plan match is 7% dollar-for-dollar with profit sharing of 10%. Health plans are especially good. The pay is also fair for a discount broker. Ultimately, Fidelity is one of the best places to work in Financial Services, because they have a long tradition of placing top priority on the customer experience. The Johnsons are good people who truly value their customers and their employees. When you are coached, it will be to whether or not the customer's needs were met, not whether you were able to sell them on an inappropriate product. Even working in sales, I always made more money off great customer surveys than I ever did due to sales results (although sales results are important as well). Lastly, the company is very conservative on a number of different topics. You are very unlikely to become involved in litigation working for Fidelity, because they stay as far away from "the line" as possible. Also, due to their conservative nature, FIdelity tends to be a safe place during times of layoffs unless you work in middle management.

ConsAs great as Fidelity is, they are not without fault. Many negative things that I can say about Fidelity, I can also say for other firms as well. The Johnsons are good people. They do a great job at spreading their gospel of customer service, but sometimes the message is lost on middle-management. Middle-management tends to stress too much on day-to-day figures such as Sales, number of calls taken, and the "customer experience indicator" (surveys) rather than focusing on the actual interactions that reps are having with customers.
Managers (especially in sales) also tend to not be entirely clear on what they expect from their employees. My opinion is that this is done intentionally, because they know that they can't coach you to sell something inappropriate that makes them look better on a piece of paper, but oftentimes, they won't call you out on it either if you do in fact do just that.
Like most big firms, Fidelity can be bureaucratic in many of their operations. The main problem (which is a good problem to have) is that Fidelity is a leader in Employee retirement plans such as 401(k)'s and 403(b)'s and a leader in personal investments such as IRA's. These are technically two separate companies, but under one roof under one name. I've worked in both sides of the house, and it can be annoying to go back and forth with colleagues on the other side of the fence who have these incorrect preconceived notions about your side of the firm. It's exhausting, but it's part of working for a big company.
Technology is one of the biggest headaches. I can honestly say that while Fidelity invests billions of dollars into technology, much of this is to improve the website. Don't get me wrong, we have a great website for customers, but they don't spend nearly enough money trying to improve quality of life for the employees. Their systems are so complicated, it was almost always easier to tell the customer how to do transaction online rather than through a rep (which is probably what they're aiming for). Also, in this modern world of e-mail, skype, facebook, etc. Many of our employees are still unable to e-mail customers which would be fine if other firms kept the same policy. Other firms have changed with the times. While, I can say that Fidelity is "on their way." They've also been "on their way" to implementing e-mail correspondence for years now. I mentioned in the Pro's that they are conservative from a legal perspective. This is where some of the cons of being conservative come into play.
Lastly, middle management is way too politically correct. It's annoying to many employees of all backgrounds. This especially rears its ugly head in the form of reverse discrimination. Being PC is fine as long as you continue to hire good people. Usually Fidelity does a good job in hiring the right people, but occasionally I've seen them compromise just to check a box that they're a diverse firm of employees. This can especially become annoying if you're looking to get promoted.

Advice to Senior ManagementIn terms of technology, please change with the times by adding e-mail, voice calling, etc. and force your middle management directors to do the same. Continue to stick to your standards of excellence when it comes to customer service and encourage middle management to bring their standards up a few notches. Don't let this company become so large that you can't effectively manage your people. If you do, the culture that you've built at Fidelity will be lost one day.

Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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    Director, Solutions Architect

    Director (Current Employee)
    Smithfield, RI

    I have been working at Fidelity Investments full-time for more than 10 years


    Pros: Challenging opportunities, varied job options, carreer path, good benefits Cons: Depending on role requries long hours. Site strategy to… Advice to Senior Management: Get to know better the capabilities of individuals that span… Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company… More
    • Culture & Values
           
    • Work/Life Balance
           
    • Senior Management
           
    • Comp & Benefits
           
    • Career Opportunities
           
    • Approves of CEO

     

    It was a good ride while it lasted

    Director, Architecture (Former Employee)
    Boston, MA

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


    Pros: High bonus percentages. Private shares. Good salary. … Cons: Overly political environments. Highly matrixed organization. Advice to Senior Management: Remember your people are your greatest assets, treat them accordingly. Yes, I would recommend this company to a friend More
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