Fidelity staffs up to advise clients amid 'unprecedented' interest in investing
Company cites market volatility, complex economic environment for growing interest in stock market
BMO Capital Markets chief investment strategist Brian Belski on the performance of the markets.
Fidelity Investments is hiring new employees to advise clients amid "unprecedented" interest in investing.
The financial service corporation is increasing its number of U.S. client-facing associates by 4,000, or 15%, in 2020 and over the next six months, according to a Tuesday announcement.
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“We continue to see very strong growth, both in new accounts to Fidelity, as well as deeper engagement from our existing client base,” Kathleen Murphy, president of personal investing at Fidelity, said in a statement.
She added that Fidelity will continue to add more associates "and invest in the long-term development" of its people so that the company is "well-positioned to deliver the best customer experience possible – both now and in the future."
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The company cited market volatility and a complex economic environment as part of the reason millions of new customers have opened new accounts with the intent to trade and save more. Fidelity is expecting to fill half of the 4,000 new client-facing associate jobs by the end of the year.
Additionally, Fidelity is seeking 1,500 people for internship or post-graduate training program opportunities for 2021.
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"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, head of Fidelity's human resources, said in a statement.
He continued: "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. Overall sentiment from our employees is high, and we’re focused on keeping it that way."
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