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Topics regarding layoffs at Fidelity Investments
Heard from a reliable source that there were some reps that quit well before being questioned, and they still got marked up even though they no longer worked for Fidelity at the time their names came up in the audit. There are some clear privacy... read more
Fidelity’s sales practices would make the scandals of Wells Fargo pale in comparison if Fidelity were a publicly held company. Extremely high pressure and unrealistic sales goals force reps to slam clients into illiquid investments like income... read more
Like some have said, suing Fidelity for firing you for the reimbursement issue has a lousy chance of success. If you want a lawsuit that has a chance to hurt Fidelity it would be regarding their contributions to the 401k plan. Has anyone noticed how... read more
This is total BS.....from WSJ in my humble opinion. They have locked the comments section down for other reasons.... "Commenting on this article is temporarily unavailable while we update our comments system."
What I find ironic is the fact that Fidelity has a purposeful policy of not paying reps for all of their sales production.Reps easily and repeatedly are robbed of at least 15-20% of their sales production due to the fact that Fidelity simply will not... read more
What I find ironic is the fact that Fidelity for their purposeful policy of not paying reps for all of their sales production? Reps easily and repeatedly are robbed of at least 15-20% of their sales production due to the fact that Fidelity simply... read more
Anyone receive letters about being sent to collections if they don’t “return” the over payment?
Terminated employees should not hold out much hope that these law firms will somehow be able to get you your job back or successfully file any sort of wrongful termination suit against Fidelity. While it feels good to hold on to hope, or to dream... read more
I recommend attorney Neda Ataie from Thomas Law Group to handle the FINRA inquiry. She knows a lot of FINRA exterminators so she definitely has an advantage there. Plus she charges a reasonable fee and handles everything herself instead of dumping... read more
Stop waiting for the next VBO. The last one was a failure as stated from an inside executive. The MAN is all hopped up on the current benefits scam . The company thanks you.
This is the most complete picture: Fidelity has blown this way out of proportion in a very bad way...time will tell what comes of it. But here’s the story... Everything started with a rep in Jacksonville - he helped others get the reimbursement and... read more
Has anyone been laid off for the student loan assistance? That just seems so easy to defraud. They would have to run credit checks from quarter to quarter to see how loan balances were declining .
Going to HR, or your manager, with general questions regarding your individual reimbursement situation, could in itself inadvertently raise a red play and get you fired during this active Witch Hunt. For guidance, post your situation in this thread... read more
If you quit before you are questioned, you should fine. It seems through previous posts that Fidelity notifies FIRNA a week before you are fired that you are under investigation. If you quit in-between Fidelity notifying FIRNA and them actually... read more
Post your contact info here. I assure you that there will be numerous replies from former Fidelity employees impacted by the firings. I would expect the vast majority would be willing speak on the record. Prove to us that you can do more than print... read more
Or is this reimbursement investigation going to continue indefinitely? This is affecting mood and morale at the office majorly. People who genuinely took advantage of the perk as it was offered are scared that they will find a way to make it seem as... read more
It maybe time to fight back. Fidelity is no saint. What is I have proff of fedelity wrong doing? The witch hunt can go both ways. What if a newsreporter got documents leaked to them about wrong doing they covered up hoping the regulators never found... read more
All affected should post their experience on Glassdoor. Let the people looking at Fidelity know the truth about the company. They will screw you over, care more about profits then employee, and call you a criminal for vague policies. It maybe too... read more
So far, is it only apple, Best Buy and Amazon? Is it only online purchases or are store receipts being shown as well?
I wasn't personally affected by the recent reimbursement-related firings, but seeing the perspective outside of the PR-friendly Wall Street journal articles has left a bad taste in my mouth. It's just so shady how Fidelity could fire employees and... read more
Fidelity is not going to allow people escorted off the property to have access to company and/or client information again once walked out. No matter what you produce if sent home. Because then one could come back, get access to company info again... read more
I see some people here actually buy that load of BS. And my, so many people seem to have made this same "mistake." Almost like, oh I dunno, the scam was being passed from one to another, but nah, people aren't like that. People never steal from their... read more
It’s a fact that the terminated employees made a mistake. They shouldn’t pretend it was ok to keep a reimbursement for a returned item. Also a fact, Fidelity wants to reduce workforce in a cost effective and PR-friendly way. They also don’t want very... read more
Any chance those who have been caught in the crosshairs of this have bases for legal action against Fidelity Investments? I'm not talking about people who actually took advantage of the policy just to get cash, I'm talking about people who exchanged... read more
Even something as simple as a fitness reimbursement is harder to process. Got rejected several times, with all paperwork and still not able to process it!
As a Fidelity employee, the policies written are so vague i am not even sure the policy states the products can or can not be returned... some leeway needs to be provided to these employees! At fidelity you are a criminal first. I can not recommend... read more
Two people who I know where let go. Two investors came in met with each separately. One person was fired because after they bought their computer returned it only for a faster upgraded model. The other person moved serveral times and lost the... read more
VP FC and WPA affected
Seriously, there are so many situations in which Fidelity has screwed over its employees, especially the ones who are in their late forties and fifties that there is no doubt in my mind they are capable of anything. But this time, I really can't feel... read more
I know someone who provided pictures and statements. They Just couldn’t locate the receipt (almost two years later). Still terminated. They don’t care what proof you have. If they place you on leave, you aren’t coming back. VBO early 2017, layoffs... read more
This is the sentence that stood out for me: "Regulatory records show a spike in terminations at Fidelity in the past year." Everybody can see what's going on here. Fidelity is trying to have layoffs without having to pay for severance, and they will... read more
Fidelity made it on America's Best Employers' list for 2018 published by Forbes, and not only did we make it on the list but we are among top 100 best employer companies. Am I the only one who finds this to be both funny and sad?... read more
I got let go for admitting I returned computer items from over 3 years prior. Repurchased but eBay goes back only 3 years and PayPal 2 years. Don't think it would of mattered even if I could get them. If you are called into investigation by internal... read more
I heard the Smithfield campus will be a thing of the past soon. Building 100 going on the market this year. Can anyone confirm this?
It seems like many tenured branch reps are flocking to Schwab for what appears to be the same deal (comp, role, etc.) Any idea what’s going on over there?
With mid-year reviews coming up, so you think they’ll forego raises again this year?
For those of you that were caught up in the recent computer and benefit plan debacle administered by Wage Works .....here is an interesting read. The ivory tower is crumbling.....and it is reaching far and wide... read more
Personally I left on my own before getting the axe. After 15 years of dedication to that place the last 2 years I have been treated like dirt with higher expectations and more work load piled on everyday. Management expected us to work 7 days a week... read more