Fidelity has experienced "record" growth in the past few year.
- Record growth of hiring & promoting inexperienced/under-qualified people into positions to check D&I boxes.
- Record growth of unprofitable accounts that will lose money for the firm (Ex. Accounts from Robinhood)
- Record growth of experienced individuals taking VBO and leaving the firm.
Not all growth is created equal. It seems like Fidelity is biting off more than they can chew. Clients aren't going to give a SHlT how "woke" associates are to social issues when they don't have experience and don't know what they are talking about with their investments.
It's so funny to me to listen to stories from managers about "why they love commuting into work", or how being in the office brings us closer together. LOL they are going to have a serious problem getting people to come back in to the office even half the time. Get ya popcorn ready.