There are newer employer reviews for Fidelity Investments

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Great place to get securities licenses & learn the brokerage business

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

I worked at Fidelity Investments full-time (more than 3 years)

Pros

Fidelity has a great program and support to ensure that over 90% of their customer service reps get their Series 7 and Series 63 plus they pay you while you are studying. After getting their licenses, the Financial Reps then get to use what they learn and more importantly, what they didn't learn, about the real world thru a series of graduated positions covering more complex environments.: Mutual Fund trader, Stock trader, then Full Trader (options, IPO's, etc.).

 Also the people at Fidelity (Westlake at least) are great to work with. They are smart, personable, and care about doing a good job. The management team is also good and works to accommodate personal needs (e.g., medical conditions, personal conditions).

 The fact that Fidelity is privately owed gives it more flexibility to try new things that will payoff longer term.

Cons

1. You need to be comfortable with having everything that you say and do being monitored. Al your phone calls, transactions, emails, chats are monitored due to compliance and also for coaching and management evaluation. You are also supposed to document all your customer interactions in Siebel.
2. You also need to be cognizant about your time/work schedule. Your calls will be timed, your breaks/off phone time, etc. This is a call center; productivity and adequate coverage are important.
3. Creativity and working/thinking outside of the box is discouraged. Procedures are defined for everything. If you get caught not following, you will be coached/reprimanded to do so. E.g., when a new procedure was introduced on how to verify callers, it was gosh-awful that clients and us financial reps were complaining. Despite the feedback, we were told to keep with the new procedures. The President of our division came for a visit a couple of months later and sat in on some customer calls. She told the management that the verification procedures were awful and to fix it. It had to wait for the tops down to make a common sense change? People & managers are rewarded for being good soldiers, not wild ducks.

Advice to ManagementAdvice

Put some serious commitment into cross-functional employee workgroups to make functional operational improvements. Employee input on how to improve things is not encouraged. Just following the broken processes/procedures is not helpful to clients or to the employees.

Recommends
Positive Outlook
Approves of CEO
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  1. Retirement Solutions Representative

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

    I have been working at Fidelity Investments full-time

    Pros

    The benefits are outstanding. Great licensing programs.

    Cons

    Business units operate in silos. Hard to move up if you start in a phone role. Senior management is disconnected from representatives. One year requirement to stay in a phone role each time you change positions. Six sick days per year and only 4 weeks vacation time no matter how long you have been with the firm. Technology is outdated and they layer applications on top of old platforms. Signifcant barrier to doing your job effectively.

    Advice to ManagementAdvice

    Listen to what representatives are actually saying. Rebuild your systems from scratch instead of adding new applications onto outdated, overworked systems.

    Recommends
    Negative Outlook
    Approves of CEO
  2. Best company I've worked for.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Premium Relationship Associate in Salt Lake City, UT
    Current Employee - Premium Relationship Associate in Salt Lake City, UT

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

    Pros

    Great benefits and focus is for sure on clients number 1 and employees 2. The company is privately owned and is ran very efficiently. If you perform your job well you will have opportunities to get promoted.

    Cons

    Some micro management, not a lot of schedule flexibility, low pay.

    Advice to ManagementAdvice

    Look at making pay structure more competitive. Be willing to allow more flexibility to those employees who wish to have days off for religious purposes especially when doing shift bids. This would create for happier employees and happier employees do a better job at work.

    Recommends
    Positive Outlook
    Approves of CEO
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