Fidelity Investments is on a hiring binge, looking to fill about 4,000 new roles by midyear as rival asset managers winnow their staffs.
The additional positions will focus on customer service and technology, the company said in a statement Wednesday. It follows a year of record hiring that brought Boston-based Fidelity’s head count to 68,000, according to an annual report.
Other big investment companies have been trimming head count amid economic uncertainty and softening financial markets. BlackRock Inc. announced plans last month to cut about 500 jobs, or 2.5% of its global workforce. And AllianceBernstein Holding LP eliminated more than 100 jobs, Bloomberg reported earlier this month.
Fidelity’s annual revenue of $25.2 billion was 5% higher than in 2021, despite net flows that were more than fifth lower than they were the prior year, according to the report.
Voya Financial adds private equity, credit and real estate options to its AMA program, building on support for looser federal investment rules in retirement accounts.
Shannon Reid, president of Osaic and the network’s number two executive, has plenty of challenges, industry executives said.
Auditors flagged the commingling. The COO allegedly knew. Investors kept getting the pitch
The advisors on the move include two brothers leading a family practice in Connecticut, and a husband-and-wife tandem working with business owners in the West Coast.
Business owners and their heirs may be making assumptions instead of having conversations, creating challenges for succession planning, according to new research.
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
Direct indexing is on pace to outgrow ETFs and mutual funds. Northern Trust's Ken Lassner explains why the advisors who get it wish they had started sooner.
