,"Fidelity Investments, the largest provider of 401(k) plans, is planning to expand its workforce by 4,000 in the first half of 2023..."
Fidelity Investments is planning to expand its employee base by 4,000 in the first half of 2023, a spokesperson for the financial firm has revealed. The company is looking to fill customer service and technical positions, with 734 of those hires being tech-related. This news follows several years of record-breaking hiring, and Fidelity's new hires will be based in select cities across the United States, including Westlake, Texas.
The investment firm has been hiring in order to meet the increasing demand for their services and the tech talent market. This is in contrast to other asset management firms, such as Goldman Sachs and JPMorgan Chase, who have been cutting down on staff due to a decrease in investor activity.
Fidelity has been expanding its technology teams in recent years, and is looking to hire individuals with experience in artificial intelligence, machine learning, cloud computing, and data science. The company also plans to hire a number of customer service representatives, IT professionals, and financial advisors.
The investment firm is also looking to increase its headcount in the field of investment stewardship, which involves evaluating shareholder proposals on a case-by-case basis, and analyzing the potential risks posed to the firm's investors.
Fidelity is also expanding its legal department in order to prepare for the arrival of fintech startups, which may pose a threat to the company's business model. Fidelity's legal team is looking to hire attorneys who specialize in financial technology and intellectual property.
The investment firm is also planning to expand its 401(k) services. According to a report by Fidelity, the average balance of 401(k) accounts rose 23% from the previous year, to $103,900. The company is looking to hire more financial advisors and customer service representatives to meet the growing demand for its 401(k) services.
Fidelity is also increasing its hiring of cyber security experts, as the financial giant prepares for the ever-present threat of cyber attacks. The company is looking to hire experts who specialize in incident response and cybersecurity risk management.
In summary, Fidelity Investments is planning to hire 4,000 new employees in the first half of 2023, with 734 of those positions being tech-related. The company is looking to expand its workforce to meet the increasing demand for its services, as well as the tech talent market. Fidelity is also looking to hire cyber security experts, investment stewards, attorneys, and customer service representatives.
