Fidelity says its “sustained client growth” means the firm will hire thousands of people in client-facing positions — including financial advisors.
Fidelity’s recent growth has already prompted the company to hire thousands of staff this year. During the second quarter, when its assets under management reached $3.3 trillion — thanks to the addition of 1.2 million retail accounts during the quarter — the company hired more than 2,000 people, including financial consultants and customer service agents.
“Recent market volatility and an increasingly complex economic environment has driven millions of new and existing customers to open accounts, increase trading activity and contribute additional savings, resulting in an overall need for increased financial support and guidance,” the company says.
Fidelity says it plans to grow the number of its client-facing associates by 15% in 2020. That means it’s looking to fill 4,000 new positions around the U.S. over the next six months, including financial advisors, licensed representatives and customer service representatives, the company says.
Fidelity says it plans to fill half of these positions before 2021 .
Moreover, Fidelity says it intends to hire “thousands” in various other roles, such as technology and operations, as well as recruit 1,000 college and university students for summer internships and 500 students graduating in 2021 for post-graduate training programs.
“Fidelity has continued to act on associate needs by providing benefits enhancements to help them navigate these challenging times, including a working caregiver subsidy, access to expert elder- and child-care coordinators, more flexible work options, matching gifts to different causes and a work-from-home expense allowance,” Bill Ackerman, Fidelity’s head of human resources, says in a statement.
“We’ve also innovated several pre-hire, onboarding and new associate assimilation processes so that new hires have a great experience starting on their very first day," he adds.
Do you have a news tip you’d like to share with FA-IQ? Email us at firstname.lastname@example.org.