After a tumultuous year and the ongoing economic uncertainty and market volatility, many big investment firms have been decreasing their headcount. Some firms have already announced their plans to cut up to 500 jobs.
Despite industry-wide cutbacks, Fidelity Investments is going against the wave and is planning on increasing its numbers. Only a few months into the new year, Fidelity recently announced their hiring plans for the first half of 2023. Following another year of record-level hiring, the firm is looking to hire for 4,000 positions over the course of the first six months of the year.
While the focus of their hiring efforts will be directed toward customer service and technology roles, many of the hires will include client-facing roles. In fact, they’ve reported that 45% of the open roles will be client-facing, which includes advisors.
The firm also continues to find new ways to promote long-term retention of its staff. As a means for investing in their team, they’re rolling out new benefits, including a fully funded undergraduate degree benefit. They have also revised their employee onboarding experience which has been designed to offer different career pathways and promote experimental learning.
As Fidelity ramps up their hiring, advisors will have an intriguing opportunity to join a firm that is looking to make long-term investments in their people. After a record-setting hiring year and a 5% increase in revenue compared to 2021, advisors looking to move should take a long, hard look at Fidelity.
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