Fidelity Investor Center Job as Account Executive

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Sep 14, 2012 4:52 pm

Anyone have any information on the Account Executive job at a Fidelity branch servicing and upselling customers in the 250k - 1MM range? It's called the Premium Services group. Basically, they give you 42K-46K base salary, a 100 households or so, and then you have an open track to run on in terms of calling existing Fidelity customers to have them move into managed money. I had a phone screening, then a face-to-face with all 3 branch managers in my area. They had probably interviewed 10-12 people for 4-5 jobs. The guy before me came out of the interview after 4-5 minutes. I lasted for 15-20, did a good job. Waiting for them to call and make an offer. Here's the weird thing... they didn't let me ask questions, they just kept asking me questions. They all said I did a great job however, this leaves many unanswered questions about the position. I am currently a FA at Chase Bank, and have 18 million in assets but no future here. Being in the bank is getting annoying. I am young (28), have an MBA, and 5 years experience. Would moving to Fidelity be a smart move? Staying at Chase is only getting worse with the introduction of Chase Private Client. Can you guys all share your thoughts on the Fidelity job and maybe some advice on staying or going to Fidelity if I get the offer?

Apr 17, 2015 1:17 am

I am currently in the process of moving over from JPM. Went in for a discussion on their jobs and it ended up being a full fledged interview. They discussed the investment consultant position as the starting point but I pushed for the AE job. Received my offer letter today base 46k, monthly bonus guaranteed for 6 MO, quarter bonus guaranteed for 2 full quarters(so this one will be pro rated) and a second quarter bonus for Customer SAT. Have a book that I’m expected to work approx 90 clients with ~30M to start. Will receive more as soon as I want.

With all the changes to JPM’s comp plan I decided to pull the trigger. Also stuck in an area with a PCA who doesn’t want to move their min up so 50k-250k window is hard to get much business. Speaking with an outside recruiter and a few advisors it sounds like a very good move compared to where I am at. However, that will remain to be seen. Told it’s a lot of work and that’s fine by me. Shoot me a pm and I’ll let you know how things go after the first few months.

Jun 17, 2015 3:47 pm

The job is to meet with a Fidelity client, roll them into a managed platform and then promise to call them in a year. There’s not much relationship building or money managing. … I’m pretty sure they give you a year or two but you still have to perform. … If this interests you, Schwab is probably a better option, I think. … Of course with five years and you’ve proven you can survive, independence is worth looking at for a long-term option.

Aug 31, 2015 1:44 pm

I am looking at Fidelity AE also, what is the bonus percentage? Do you keep the base pay or does that eventually go to straight commission. Any other benefits to consider with Fidelity? Currently with a bank program that has been flat, they do not give referrals for my department. Most of my new clients come from current clients. I have 13 years in the business.

Nov 9, 2015 10:06 am

adamrose and brown1775, just wanted to see if you are with Fidelity and if so, how is it? Pros/cons of the position? I have not changed but will be looking again next year. Still with the local bank, small market but ready to move.