Fidelity Investments

  www.fidelity.com
  www.fidelity.com
There are newer employer reviews for Fidelity Investments

 

Great learning opportunities from day one.

  • Comp & Benefits
  • Work/Life Balance
  • Senior Management
  • Culture & Values
  • Career Opportunities
Current Employee - Audit Manager in Boston, MA
Current Employee - Audit Manager in Boston, MA

I have been working at Fidelity Investments full-time (more than 8 years)

Pros

Good benefits, intelligent employees and entrepreneurial spirit for a large company.

Cons

Moving company to many areas of the country that are not appealing to current employees.

Advice to ManagementAdvice

Greater transparency for lower level relocations. Incentives aren't as good for the lower levels and they make up the majority of the positions required to relocate.

Recommends
Neutral Outlook
Approves of CEO

1939 Other Employee Reviews for Fidelity Investments (View Most Recent)

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  1. 2 people found this helpful  

    Horrible experience

    • 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 5 years)

    Pros

    Pay was better than former employer, variable compensation can be good if your manager likes you

    Cons

    Very salesy, lots of red tape, very limited career potential outside of sales

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  2. 1 person found this helpful  

    Great place to begin a career in Financial Services

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

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

    Pros

    Fidelity 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.

    Cons

    As 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 ManagementAdvice

    In 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.

    Recommends
    Positive Outlook
    Approves of CEO
There are newer employer reviews for Fidelity Investments

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