The constant reshuffles and unclear future make any retirement plan a joke. At this point I’m planning for options outside the company.
6 replies (most recent on top)
all companies are the same. Nothing new here. People are never happy.
Fidelity gets a little, or sometimes a lot, worse every year. Feels like circling the drain for a once great company. At least we're private and profitable. The SVP+ will do whatever it takes to get their share and keep everyone else in check. Watch your back, and trust no one.
I’ve been here a long time and I’m proud and rich from my time at Fidelity. Only reason I haven’t retired yet is I’m still relatively young and I love my job.
I don’t know anyone that retired from Fidelity….the higher you go the shorter your career there. Most are there for the money and benefits then one day someone has a look at your salary, bonus and share programs then your out. Worked like this for many years. That said, used to be staying for 20 or more years depending on your ambition and compensation plans could change your family tree. Those days are gone. Fidelity no longer grooms their own but rather hires toxic talent from other firms or worse from the government that destroyed the culture. HR played a role in this. HR should be eliminated and replaced with AI.
100% with you.
I completely understand where you are coming from. It's shame there has been this much of a culture shift within the past couple of years. I used to be proud of working for Fidelity now I am becoming disgusted with the lack of caring paid to the employees and the amount of greed being displayed in how we treat clients- I was proud because I always felt we were better than a lot of the turn & burn other firms and banks out there but now we have become them. Standards of care, ha! preaching out both sides of the mouth. Maybe as a firm Abby & Co feel this is the model you have to follow to remain relevant in the industry & willing to alienate some employees & clients in the process as collateral turnover damage. After the curtain was pulled down on the Wells Fargo treatment of staff and customers and the fact this company still has employees and clients after all that tells the industry you can get away some of this culture while walking the compliance line.
When you look back on your career in retirement you want to say I did some good and had a positive impact and was proud of where I retired from. I speak to a lot of retired clients and a lot of them are very proud of where they worked and that is why you still see so many clients holding onto their company stock. Quite honestly as someone on the sales side I am feeling like a wh--e more than an advisor out to do what is best for my clients. Maybe I was disillusioned for many years but I doubt it- I feel the culture is more about revenues then people now and it is only getting worse. I understand your interest seeking outside employment so I wish you luck but also, I suspect it will be difficult not finding more of the same.