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Fidelity Hiring Spree Continues With Plans to Add Another 12,000 Employees

Edited excerpts from the Wall Street Journal Article:
Fidelity Investments said it plans to hire another 12,000 people by September. The Boston financial firm expects to end the year with as many as 68,000 employees, up about 19% from the start of 2022, building on a hiring spree that began in late 2020. Fidelity hired 7,200 associates that year and another 16,600 in 2021. The bulk of the new hires will be in client-facing and technology roles.

Fidelity, a private company controlled by the Johnson family, reported an operating profit of $8.1 billion in 2021. Revenue rose 15%.

Fidelity said it ended the first quarter with 33.4 million brokerage accounts, up 3% since December and more than 40% since the end of 2019, when individual accounts numbered 22.5 million.
Free link to WSJ Article

Comments

  • Yes, I’ve been trading a lot since moving in …..:)
  • From what I've been reading on MFO Vanguard seems to have a lot of well-trained and helpful customer service people. Maybe Fidelity can steal some of those folks.
    :)
  • edited April 29
    Old_Joe said:

    From what I've been reading on MFO Vanguard seems to have a lot of well-trained and helpful customer service people. Maybe Fidelity can steal some of those folks.
    :)

    Hope they stay away from those at TRP …. :)

    And yup - a lot of complaints about VG as well.

    It’s hard to imagine 12,000 people working for one company, yet alone being added to an existing workforce. Thanks for the post @Old_Joe
  • They must be beefing up their customer service either at their branch offices, phone and online services. Now that the pandemic has eased up, reliable and consistent service are the key to hold on to your customers while gaining few more from their competitors.

    Some brokerages did not fared as well as Fidelity and we do hear the dissatisfaction often here, and T. Rowe Price and Vanguard are some of them unfortunately. Honestly, we learned to use Fidelity live chat online and they are surprisedly quite good with short waiting time.
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