Opinion on a Financial Representative Career With Fidelity

If you’ve arrived at the idea of working in a finance career with no prior banking experience, a Financial Representative position at Fidelity may be right for you.

Over the last week I’ve browsed the job market for entry-level careers in finance. My goal was to target trusted companies that offer products and services that you believe would actually help clients. You know, products and services that, at the end of the day, leave you feeling good about representing and selling, instead of a feeling like a guilty slime-ball.

After wading through the many different job listings I found that a career at Fidelity, specifically their Financial Representative position stood out the most.

A career with Fidelity offers financial and mentor support in getting FINRA licenses, they provide flexible living opportunities thanks to their many locations and technology, and they offer an extremely generous benefits package.

What Makes The Financial Representative Position so Attractive

There are many reasons why the Financial Representative position at Fidelity stands out.

Here are the highlights (from my personal perspective) I’ll be covering in this post:

  • Helps you obtain FINRA licenses
  • Flexible living options, should you wish to relocate
  • Access to Fidelity’s excellent, comprehensive benefits package

Of course, a highlight that I feel need not be mentioned is that a position like this is a rewarding one that allows you to help people improve their financial situations while getting to learn more about the industry. For me, and I think most people interested in a finance career, I think this is a given.

Fidelity Helps You Obtain FINRA Licenses

What makes this position so attractive to a person interested in a finance career but has no prior experience is that Fidelity actually helps you obtain licensure required for this position. Fidelity states this right at the top of their Financial Representative listings under the Job Description section.

We will help you obtain your FINRA series 7 and series 63 licenses allowing you to provide fundamental financial guidance and mentorship.

Fidelity’s Financial Representative Job Listing

FINRA (Financial Industry Regulatory Authority) oversees U.S. broker-dealers, such as Fidelity, to ensure that securities and licensure requirements are met. FINRA issues many exams that must be passed in order to become a licensed financial professions

The FINRA series 7 and series 63 licenses seem to be standard requirements for entry-level financial professions.

The Series 7 License 

The Series 7 exam is also known as the General Securities Representative. The Series 7 examines the competency of an entry-level registered representative as a general securities representative.

Series 7 Exam Highlights

  • Cost: $245
  • Format: Multiple Choice
  • Number of questions: 125
  • Duration: 3 hours and 45 minutes
  • Passing score: 72%

The exam measures the degree to which each candidate possesses the knowledge needed to perform the critical functions of a general securities representative, including sales of corporate securities, municipal securities, investment company securities, variable annuities, direct participation programs, options and government securities.

FINRA on the Series 7 Exam

It should also be noted that prospective Series 7 exam takers must also take and pass the FINRA Securities Industry Essentials (SIE) exam in order to obtain General Securities Representative registration.

Learn more about the Series 7 Exam on FINRAs website.

The Series 63 License

The Series 63 exam is also known as the Uniform Securities Agent State Law Exam. 

Series 63 Exam Highlights 

  • Cost: $135
  • Format: Multiple Choice
  • Number of questions: 60
  • Duration: 75 minutes
  • Passing score: 72%

The Series 7 is actually an exam from the North American Securities Administrators Associates (NASAA) but is administered by FINRA. 

This license is required by each state and authorizes license holders to do business within the state.

Fidelity helps Financial Representatives obtain these licenses during the first six months of employment. And from what I’ve read on Glassdoor, an anonymous employee feedback website, Fidelity supports you with paid training and material that covers Series 7 & 63 exams.

Flexibly Living Opportunities

Another benefit to snagging a job up at Fidelity is that they have locations in over 38 states across the country (and counting).

According to Wikipedia, Fidelity has 140 locations.

According to Wikipedia, Fidelity has 140 locations.

This means that as you grow in life and your career, you’ll likely have flexible living opportunities available, should you wish to uproot and live somewhere else.

Personally, I deem this as a huge benefit to Fidelity employees. It’s not that I’m a nomad, but the idea of being able to just pick up and go is attractive.

This may come in handy if your spouse gets a job in another city or state, or your child gets accepted into a university across the country and you want to move there. Or maybe you’ve just wanted to try living somewhere new.

Whatever your reason, the thought of being able to move around and not stay tied down to one location is enticing.

In addition to Fidelity’s several physical locations, I see that Financial Consultants, the next career step up for Financial Representatives, also have the flexibility to work from home while having access to their tools of operation. This was specifically stated in Fidelity’s Financial Consultant job listings.

Excellent Benefits Package

And of course, as a Financial Representative with Fidelity you’ll have access to their excellent benefits package. 

A glance at Fidelity’s employee benefits page will show you that this is a company that takes care of their employees by offering comprehensive benefits and programs.

Here are some highlights.

Retirement

  • Traditional and Roth 401(k)
  • Up to 7% employer 401(k) match
  • Profit sharing contributions (this is kind of like a 401(k) match but with profit sharing

Health & Insurance

  • Dental coverage
  • Vision coverage
  • Medical coverage
  • Disability coverage
  • Life insurance coverage
  • Fitness reimbursement program 
  • Group auto & homeowner’s insurance
  • Group personal excess liability insurance
  • Health care flexible spending account
  • Pet insurance (this is the first company I’ve come across that offers pet insurance. Talk about going the extra mile!)

Visit Fidelity’s benefits page to learn more about their benefits that also include work/life programs, and training & development offerings.

What the Internet Is Saying About Fidelity

A user from Join And Shake answers the question:

In your opinion, is Fidelity Investment’s good place to kickstart a career? 

Absolutely, they care about you as an employee and they offer some of the greatest benefits that you will find at any big company nationwide. They have a super high employee satisfaction ratio and because of this they have tons of people who started working there after college and then retire there 30 years later. 

app.joinandshake.com

A contributor on Glassdoor titles their review, “Great career-starting company”:

Benefits including profit sharing and bonuses are great. The breadth of this company provides a great opportunity to try out different career paths or boost your current one.

Glassdoor

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