35 Fidelity Interview Questions & Answers
Below is a list of our Fidelity interview questions. Click on any interview question to view our answer advice and answer examples. You may view 8 answer examples before our paywall loads. Afterwards, you'll be asked to upgrade to view the rest of our answers.
Table of Contents
- 1. Ask The Interviewer Questions
- 2. Behavioral Questions
- 3. Career Goals Questions
- 4. Communication Questions
- 5. Compatibility Questions
- 6. Competency Questions
- 7. Customer Service Questions
- 8. Diligence Questions
- 9. Direct Questions
- 10. Discovery Questions
- 11. Diversity Questions
- 12. Education Questions
- 13. EQ Questions
- 14. Experience Questions
- 15. Job Satisfaction Questions
- 16. Organizational Questions
- 17. Problem Solving Questions
- 18. Salary Questions
- 19. Teamwork Questions
Ask The Interviewer
1. Do you have any questions about this job or Fidelity?
What You Need to Know
Remember, the interviewer will not think better of you if you have no questions. Many candidates feel that by saying they do not have questions, they show they have researched the job and fully comprehend the requirements. Don't fall into that trap. One of the biggest interview mistakes you can make is not having questions prepared. By asking an insightful question, you show the interviewer full engagement and interest. Be sure that your queries are not mundane or redundant.
Written by Kevin Downey on March 8th, 2023
Tips
The last thing an interviewer wants to hear is a question that can be answered by simple research. Before your interview, thoroughly explore their website, including their FAQ pages, where they answer many questions regarding applying for a job, their hiring process, their recruitment efforts and internships, and other topics. Further research on their site should clue you in to the company's goals and generate poignant questions to ask your interviewer.
Written by Kevin Downey on March 8th, 2023
Answer Example
"While I've already shared with you the 90-day plan that I've drawn up to ensure that I'll hit the ground running, I'm curious to learn more from you about if there are any steps in particular that you think I could take to be successful in this role. Are there any specific actions not encompassed by the position description that you think are important?"
Written by Rachelle Enns on September 28th, 2021
Experienced Example
"Thank you for asking! A couple of questions come to mind. What is the biggest challenge Fidelity will face in the next 12 months? Also, what is your employee turnover rate for this exact role? Lastly, could you tell me about the retention plan you currently have in place?"
Written by Rachelle Enns on September 28th, 2021
Behavioral
2. Do you prefer to work independently or with partners?
What You Need to Know
This teamwork-based question will give the interviewer an idea of your preferred work style and whether you are an introvert or an extrovert. How you answer this question will reveal how you interact with others. "If you're a 'people person,' there's a place for you at Fidelity." Either way, be honest with the interviewer about your preferences while demonstrating flexibility in your work style.
Written by Kevin Downey on March 8th, 2023
Experienced Example
"I understand that this role requires me to work independently and with the partners and team at Fidelity. About 75% of my work in my current role is independent, and I appreciate the autonomy. With that said, when collaborating with the team, I feel encouraged, challenged, and refreshed. It's great to have a balance of independence and teamwork."
Written by Rachelle Enns on September 28th, 2021
Answer Example
"Being newer to my career, the more I can learn from partners and teammates, the better I will become. So, although I can certainly work on independent tasks, I prefer at this time to have more interaction with others, giving me opportunities to learn."
Written by Rachelle Enns on September 28th, 2021
Career Goals
3. Why do you want to work at Fidelity?
What You Need to Know
Your interviewer is gauging whether you are trying to compete for a job with them specifically or trying to land a position anywhere. Fidelity offers classroom and online courses focused on your "training and development so you can continue to grow. Constant learning and clear opportunities for career growth are ingrained in how we work. With mentors and management committed to your success, you can build the career you've always imagined, or discover something entirely new. Video-based training for technology, leadership, management & more. Access to thousands of relevant business books with summarized content. Rotational programs for exposure to new areas of our business. An open atmosphere of knowledge sharing and collaboration."
Written by Kevin Downey on March 8th, 2023
How to Answer
You'll want to tailor your career goals to how Fidelity specifically can help advance your career. So you must do your homework beforehand, ensuring you're well-versed in the position and what Fidelity has to offer. When this is done effectively, you'll showcase the value you will bring to them.
Written by Kevin Downey on March 8th, 2023
1st Answer Example
"I'm excited about this opportunity to work with Fidelity given my deep experience in financial planning at XYZ company and the opportunity to use these skills I've gained to contribute to ABC project at Fidelity. I have all the skills needed to succeed in this position. Still, what's more, my experience in product management and sustainable investing will allow me to exceed expectations in this role and bring great value to Fidelity's wealth management division."
Written by Rachel Hills on August 8th, 2021
2nd Answer Example
"From a young age, I've believed in the importance of financial literacy, early retirement planning, investing, and using money as a tool to get what we most want out of life. For this reason, I'm passionate about financial advising and would be honored to have the opportunity to use my experience to help improve Fidelity clients' financial well-being, which I know is central to your mission here. I'm drawn to Fidelity's no-nonsense, straightforward approach to financial wellness, and I think I have the skills and values necessary to thrive as a financial advisor here."
Written by Rachel Hills on August 8th, 2021
Career Goals
4. Why do you want to work in the financial space? Where would you like your career to take you?
What You Need to Know
The interviewer wants to hear the reason you are passionate about the industry and why you got into it in the first place. With its strong company culture and access to comprehensive training opportunities for new employees, Fidelity is known for being an excellent place for young professionals to begin their careers in finance. "Connect your skills to solutions for our customers. As our business has grown, we've expanded our reach, built new capabilities, and discovered opportunities for employees to pursue their passions. All so you can find a career that works for you."
Written by Kevin Downey on March 8th, 2023
How to Answer
Share your history in the industry, what propelled you into this career, or how your experiences piqued your interest in finance. Think about how you want to grow with Fidelity. Study the natural career path, from the role you are currently interviewing for to any senior positions that follow. Discuss where you want your career to take you, showing enthusiasm for potential job promotions and opportunities at Fidelity.
Written by Kevin Downey on March 8th, 2023
1st Answer Example
"I obtained my master's degree in finance thinking I would join a corporate banking environment. That is until I met a seasoned financial investment advisor who told me about her career path and successes. I loved the flexibility she had in her career and that her income potential was never capped as mine would be in many professional environments. It was history from there! Today, I would like to grow my career to include branch management or a regional position for Fidelity."
Written by Kevin Downey on March 8th, 2023
2nd Answer Example
"Growing up, my parents instilled in me the importance of actively planning for my financial future, so I believe the seed was planted from a young age. During university, I was the go-to person for other students who wanted to become involved in penny stocks, and from there, my interest flourished. As a recent finance graduate, I am ready to start my career as a junior advisor and work my way into a senior advisory role with Fidelity when the time is right."
Written by Rachelle Enns on September 28th, 2021
Communication
5. Wealth management is a general term. How would you explain what we do at Fidelity to someone unfamiliar with our company?
What You Need to Know
There are many interpretations of the term 'wealth management' and a plethora of companies that offer similar services and products. Your interviewer wants to gauge your scope of the wealth management industry and assess your communication skills, especially in how you would represent their company to their clients. "Our people are as important as our investments. At Fidelity, we're looking for people who see things differently, who think big and deliver bigger. With Asset Management professionals around the globe, we offer opportunities that are attractive to individuals with diverse sets of skills and experiences." Remember, while Fidelity offers wealth management and financial planning services geared at their high net worth clients, Fidelity is primarily a brokerage firm for investing. Demonstrate your familiarity with the various financial products that Fidelity offers. And be mindful of your choice of words and how you communicate this to your interviewer.
Written by Kevin Downey on March 8th, 2023
Experienced Example
"For someone unfamiliar with Fidelity or even the term wealth management, I would describe wealth management as a collection of services (particularly for higher net worth individuals) that includes financial planning, portfolio management, retirement, estate planning, and investment guidance. Of course, Fidelity is more than just wealth management services. You're well known for your brokerage platform that allows individuals to trade with low fees. Traditionally, Fidelity has been known for its family of mutual funds, which many investors buy to have a well-diversified portfolio. And finally, Fidelity provides financial advising to clients, whether individuals or institutions."
Written by Rachelle Enns on September 28th, 2021
Communication
6. Do you have experience preparing and delivering presentations?
What You Need to Know
Part of what you're expected to do at Fidelity may be planning, preparing, and delivering presentations to clients or other stakeholders. As most of us know, public speaking can be intimidating. It's natural to feel some nerves, but the interviewer wants to see that these nerves do not impede your preparation and ability to communicate well.
If applicable, discuss any courses or training you have taken related to public speaking and presentations, or explain your informal experience in this capacity. Assure the interviewer that you are capable by reviewing times when you successfully prepared and gave presentations to a group of people.
Written by Rachelle Enns on September 28th, 2021
Experienced Example
"In my current role, I regularly present to my clients and my team of twenty advisors. To help me gain confidence as a speaker and presenter, I became a Toastmasters member two years ago. Since joining, I have taken courses such as 'The Better Speaker' series, 'Beginning Your Speech,' and 'Concluding Your Speech.' I also have training in PowerPoint, Prezi, and Keynote, ensuring that my presentations are visually engaging."
Written by Rachelle Enns on September 28th, 2021
Answer Example
"The bulk of my presentation experience comes from my time in university, where I prepared a variety of speeches and decks. I am a confident public speaker and presented to a group of my peers without any issues. I look forward to gaining even more experience preparing and delivering professional presentations for clients and internal stakeholders."
Written by Rachelle Enns on September 28th, 2021
Communication
7. How would you explain mutual funds to someone unfamiliar with the concept?
What You Need to Know
Fidelity strives to create straightforward investment products and tools for its clients. You'll see highlighted on Fidelity's website that a central goal for the company is to 'make the complex, simpler.' As a wealth manager or advisor, an important part of your job will be explaining financial products and strategies to your clients in a way that is accessible and straightforward. The point of the question is for the interviewer to determine how well you can explain products like mutual funds to the average person who's not a financial expert. Before they consider you as a representative of their company they'll need to ensure you can effectively communicate this to someone without a financial background.
Written by Kevin Downey on March 8th, 2023
How to Answer
Try to align your language with theirs. "Mutual funds are a practical, cost-efficient way to build a diversified portfolio of stocks, bonds, or short-term investments. Our extensive resources allow Fidelity's fund managers to look deeply across different regions and sectors to find investment opportunities that others may miss."
Written by Kevin Downey on March 8th, 2023
1st Experienced Example
"I understand that the world of wealth management can be overwhelming and complicated, which is why it's imperative that I can explain concepts and products very simply. All clients want to know is if the product is right for them, why it's right, and what kind of results they can expect. For that reason, I would explain mutual funds as a professionally managed money pool. In other words, various investors pool their money together to buy stocks, bonds, or other assets. For the past century, the market return has been about 10%, meaning that these investors, on average, will get a 10% annual return by investing in these assets. I highly recommend mutual funds (as well as index funds) to my clients as an easy way to diversify their portfolio without taking too much risk."
Written by Rachelle Enns on September 28th, 2021
2nd Experienced Example
"Mutual funds are a basic financial concept, so every one of my clients must have a solid idea of how they work. I would tell clients that when they buy a mutual fund, they pool their money with many other investors. This pooled money lets them invest more widely for a lower cost. A professional manager decides where to invest this money pool. Mutual funds are flexible, allowing a client to buy or sell their funds at any time."
Written by Rachelle Enns on September 28th, 2021
Compatibility
8. How will your skills complement Fidelity?
What You Need to Know
This question is an excellent opportunity to highlight the hard and soft skills that make you a standout candidate. Be sure that your answer aligns nicely with Fidelity's values. "Find Your Fidelity... Our commitment to helping people lead better lives starts with you." Remember that Fidelity's mission centers on making complex financial issues simple to help individuals and families with their unique financial needs.
Written by Kevin Downey on March 8th, 2023
Experienced Example
"I understand that your mission is to help your clients achieve financial independence and freedom in retirement. My skills in retirement planning are strong, and my portfolio of work attests to this fact. I care about my clients in a way that they notice, which is why I gain such a high referral rate year after year. Lastly, because I have twelve years of experience in the wealth management industry, the time to train me will be significantly reduced, ensuring that I begin making a positive impact with Fidelity immediately."
Written by Rachelle Enns on September 28th, 2021
Answer Example
"I am a highly technical and analytical person; I pick up on numbers and systems quite quickly. I have already crafted a 90-day plan from the position description to exceed expectations in this role, which I would be happy to share with you. The plan includes doubling up on my cold calls and booking more in-person client meetings. These activities, along with my speed and eagerness, will ensure that I make an impact on the Fidelity bottom line as soon as possible."
Written by Rachelle Enns on September 28th, 2021
Compatibility
9. We've found that our team members who are active in their community tend to see more success. Tell me about an organization or group your are involved with outside of work.
What You Need to Know
The interviewer would like to know if you are giving your time and being involved in your community. As a financial professional, networking and getting your name out into the community is an important part of your job. "Our products and services are delivered in a welcoming and equitable environment. Within Fidelity, you'll find many employee-run networks that bring people together based on shared passions, backgrounds, and hopes for change we can make, together." Volunteer work and community involvement showcase strong character and selflessness, all qualities that make a great advisor.
Written by Kevin Downey on March 8th, 2023
How to Answer
Describe how you are active and involved outside of work. Fidelity is known for its friendly coworkers and positive corporate environment, so demonstrating your community involvement is one way to show that you'll be a good fit for Fidelity. Especially early in your career, you may not have many examples of boards or outside organizations you are involved with. That's OK. You can use this question to discuss your community interests and where you could see yourself becoming more involved. Or, you might point to an experience volunteering in college, demonstrating what you took from the experience and how you've gained skills relevant to a role with Fidelity.
Written by Kevin Downey on March 8th, 2023
Experienced Example
"I recently began sitting on the business commerce board for our city. We raise funds for local schools and other needs for the community while also providing helpful resources to local business owners. I have thoroughly enjoyed my experience and plan to dedicate myself more often to giving back to others."
Written by Rachelle Enns on September 28th, 2021
Answer Example
"Aside from being a financial advisor, I am also the parent of three young children. Their schools and sports groups are often running community fundraising events. This year I volunteered to be a school committee treasurer. It doesn't take up much of my time, but it does feel great to be an active parent helper."
Written by Rachelle Enns on September 28th, 2021
Competency
10. What do you believe is the biggest challenge facing the wealth management industry today?
What You Need to Know
The interviewer at Fidelity wants to see that you're an experienced wealth management professional and can provide critical analysis of current hot topics and challenges. But, your interviewer is also curious to know whether you've explored Fidelity's insights on their blog or their sources and whether your insights align with theirs.
One topic they cover on their website in a few locations is student debt; "A foundation of firsts. We bring new thinking to the modern workplace, with a Student Debt Employer Contribution benefit that helps employees tackle their biggest financial stressor, student debt, exploring the impact of student debt on underrepresented communities, and how student debt repayment benefits can help support Diversity, Equity, and Inclusion and boost employees' financial wellness."
Written by Kevin Downey on March 8th, 2023
How to Answer
Whether you're a seasoned financial planning professional, a fresh-faced college graduate, or somewhere in the middle, it's essential that you know the challenging side of the trade before joining. Share what you believe to be a significant challenge in the wealth management industry today and why. Bonus points if you have a plan prepared for overcoming these challenges!
Written by Kevin Downey on March 8th, 2023
Answer Example
"I believe that one of the biggest challenges that the finance and wealth management industries face today is cybercrime in the form of data breaches and fraud. I recently read that financial cybercrime has increased by almost 500% over the last two years, causing a lot of mistrust between customers and their financial service firms. To combat this, I always send a copy of our data security action plan and agreement to my customers, ensuring they understand what my firm and I do to keep their information safe and secure."
Written by Rachelle Enns on September 28th, 2021
Experienced Example
"From my experience in the industry, I've observed that FinTech companies will become even bigger and fiercer competitors to traditional financial and wealth management firms. I believe it's important that we begin to look at partnering with these tech-savvy startups rather than completely opposing them. This goes along with a common challenge that wealth managers have faced in the 21st century with the advent of robo-advisors. I believe wealth managers need to up their services to continue competing with robo-advisors, giving clients more options for digital management while meeting the needs of clients who prefer brick-and-mortar financial advising."
Written by Rachelle Enns on September 28th, 2021
Competency
11. How do you deal with client rejection or objections?
What You Need to Know
Part of working in a client-facing or sales-oriented position is facing rejection and objections from clients regularly. Be prepared to discuss how you handle -- and most important, bounce back from -- rejection. You'll want to demonstrate that you have thick skin and don't take rejection or pushback personally.
Written by Rachelle Enns on September 28th, 2021
Experienced Example
"I love the quote by sales trainer Tom Hopkins that says 'Begin always expecting good things to happen.' This quote encompasses my approach to sales and even client rejection. I know that my offerings are strong, and I stand behind my work and maintain integrity in everything that I do. The 'right' client for me will see these qualities right away and be willing to hear me out, at the very least. When I hear the word 'no,' I understand 'not right now.' No is not forever, and I will continue to massage even the 'no' relationships until they turn into a 'yes.'"
Written by Rachelle Enns on September 28th, 2021
Answer Example
"To be a successful professional in the wealth management industry, I must rely on my reputation, referrals from others, and professional follow-up. For these reasons, no matter how a customer rejection might make me feel, I always remain professional. I am a positive person by nature, so when rejection comes my way, I will ask more questions to see if I can find the true source of the objection."
Written by Rachelle Enns on September 28th, 2021
Customer Service
12. In an initial client meeting, how do you first assess a client's financial position?
What You Need to Know
When it comes to a client's financial position and risk tolerance, wealth managers and financial planners must know how to accurately and carefully assess their financial status. "When you do well, we do well. As a privately held company, we use our investor mindset to make sound judgments for the long term for our customers and our business." Demonstrate to the interviewer that you have the soft skills necessary to get to the crux of a client's financial situation, such as active listening and asking the right follow-up questions.
Written by Kevin Downey on March 8th, 2023
Experienced Example
"As a responsible wealth management professional, it is essential to me that my clients know their bandwidth when it comes to the risk they are willing to take as well as their most important financial goals for the future. I saw a lot of pain during the economic downturn as so many investors overestimated their ability to stomach the risk when investing. When first assessing a client's financial position, I ask a lot of discovery questions. I also perform time horizon tests such as NestEgg Estimates and other stress tests to ensure they understand where they are as far as their financial future and the risk they are willing to take."
Written by Rachelle Enns on September 28th, 2021
Answer Example
"There are many ways to assess my client's financial position. I am analytically minded and know that the truth is always in the numbers, so I rely on a lot of data from stress and tolerance tests. I ask many questions regarding future planning and their level of comfort with risk. Everyone is different, and I must treat each client as a unique case."
Written by Rachelle Enns on September 28th, 2021
Customer Service
13. Fidelity is client-centric. How do you continually strengthen relationships with your existing client base?
What You Need to Know
Many employees in the financial industry are motivated by commissions to build excellent relationships with their client base. But Fidelity wants to ensure all their representatives embrace their mission "to strengthen the financial well-being of our customers and deliver better outcomes for the clients and businesses we serve." They consider themselves "a financial services company that puts people and relationships first. Being committed to helping people lead better lives starts with our employees." For these reasons, it's in your best interest to have a solid strategy for building strong relationships with new clients and building upon your existing client base at the same time. Discuss some steps that you take to ensure you have profitable client relationships.
Written by Kevin Downey on March 8th, 2023
1st Experienced Example
"It's important to me that I take time out of every day to strengthen relationships with my prospective customers as well as my existing client base. It's all about adding value to my offering. This value could be in the form of my monthly newsletters or the market reports that I publish quarterly. I spend the time crafting interesting downloads, whitepapers, and other PDFs focused on educating my contacts. This way, they become more comfortable with me and begin to see me as a thought leader in wealth management. Because of these frequent touchpoints, I am often the first name they think of when they are ready to build a stronger financial future."
Written by Rachel Hills on August 8th, 2021
2nd Experienced Example
"One of the keys to client connection as a Financial Advisor is an approachable, professional brand. I learned in business school that humanizing your brand was essential for client engagement. Everyone wants to feel a connection with their advisor built on trust and loyalty. I plan to approach client engagement in a hands-on manner that includes as many phone calls, follow-ups, and in-person meetings as possible."
Written by Rachel Hills on August 8th, 2021
Customer Service
14. How would you build a relationship with demanding or intimidating clients?
What You Need to Know
Within finance, you may come across a wide variety of personalities, some of which may be intimidating or overbearing. Your interviewer wants to see whether you possess the emotional intelligence and maturity to deliver consistent customer service, regardless of your customer's character or background. "When it comes to supporting our customers, it's all about building relationships. Connecting with customers, listening, and acting with empathy as you work to understand their long-term goals. You'll make an impact on their financial futures every day, with the support and resources of one of the world's largest financial firms." Share your approach while showcasing your emotional maturity. If you have encountered a situation like this, discuss how you communicated and built a relationship.
Written by Kevin Downey on March 8th, 2023
Answer Example
"Many of my clients are wealthy business professionals who do not have time to fuss around. I'm accustomed to working with these clients and do not feel intimidated by them. I've learned to adjust my approach as a financial advisor depending on the client I'm working with. Some come to me because they want to talk through every aspect of their portfolio, while others want quick, concise advice. I am proud of the work I deliver to meet the unique needs of different clients."
Written by Rachelle Enns on September 28th, 2021
Diligence
15. Analytical skills are critical to success at Fidelity. How are you analytically-minded?
What You Need to Know
Fidelity looks for team members who can provide logical answers to clients' biggest questions. "Our people are innovators and creative thinkers, leaders in defining investment strategies, and pioneers. At Fidelity, you'll find a culture of collaboration that empowers you to grow and do your best work as we work together to build better financial futures for everyone." Share your approach to analytical thinking through your research skills, outside-of-the-box thinking, attention to detail, or the systems you've implemented.
Written by Kevin Downey on March 8th, 2023
Experienced Example
"As a financial advisor, I use my analytical skills when detecting patterns in financial trends, observing and interpreting data, theorizing about where the market is going, or brainstorming ideas for my clients when their decisions depend on multiple market factors. I take pride in my analytical abilities because they help me do my job exceptionally well while benefitting my clients greatly."
Written by Rachelle Enns on September 28th, 2021
Answer Example
"Given my university experience, I think of my analytical skills as one of my strong suits as a finance professional. As a computer science and finance double major, I regularly engaged in projects that allowed me to gather and organize data, perform various analyses to draw conclusions, and finally communicate how these data-informed trends would impact solutions to the project. I was able to learn R, Python, and MatLab to aid in this process. As a result, I consider myself an analytical and logical thinker, which I think will be helpful in working with clients to make well-thought-out and data-informed financial decisions."
Written by Rachelle Enns on September 28th, 2021
Diligence
16. As a financial professional, have you ever been asked to act unethically? If so, how did you handle the situation?
What You Need to Know
"Fidelity Investments has built its business and reputation on the highest standards of customer service, integrity, and personal responsibility." Fidelity takes pride in their reputation and their part in ensuring those they hire are operating ethically and according to their values. If you have ever been asked to act unethically, talk about the situation without speaking poorly of another finance professional or past employer. If you haven't, spend time determining how your values align with theirs and share how you would navigate such a situation should it arise.
Written by Kevin Downey on March 8th, 2023
1st Experienced Example
"In my career, I have been offered gifts from clients, and although this is not a direct crime, it never feels right to accept anything lavish from a client. I do everything that I can to keep my relationships strictly professional. You can rest assured that I would act with utmost honesty and integrity, representing Fidelity with pride every day."
Written by Rachelle Enns on September 28th, 2021
2nd Experienced Example
"I am newer to my career and have never been asked to act unethically on behalf of the firm or client. I would never do anything to jeopardize my company, career, or professional reputation. Should a situation be serious, I would immediately report it to my employer or governing board."
Written by Rachelle Enns on September 28th, 2021
Direct
17. Have you ever broken a non-disclosure, privacy, or confidentiality agreement?
What You Need to Know
As a professional in the financial industry, you will be privy to sensitive or confidential information relating to your clients and Fidelity. Fidelity will likely have various confidentiality agreements for you to sign during your onboarding, and you will also regularly engage with confidentiality agreements in your client-facing work.
"Fidelity recognizes the importance of maintaining personal information about you, and when we use it, we do so with respect for your privacy. We implement and maintain physical, administrative, technical, and organizational measures designed to protect personal information, and we regularly adapt these controls to respond to changing requirements and advances in technology. At Fidelity, we restrict access to personal information to those who require it to develop, support, offer, and deliver products and services to you and to operate our business."
Written by Kevin Downey on March 8th, 2023
How to Answer
Assure your interviewer that you approach your job with integrity and professionalism. Share your approach or experiences with safeguarding sensitive or confidential information.
Written by Kevin Downey on March 8th, 2023
1st Experienced Example
"I have signed NDAs and confidentiality agreements with my former employers and every client with whom I've worked. As a professional in the wealth management industry, I understand the importance of communicating the importance that I and the firm place on confidentiality and protecting sensitive information. I take these conversations seriously to instill trust in my clients."
Written by Rachelle Enns on September 28th, 2021
2nd Experienced Example
"Before starting my internship, I was asked to sign a confidentiality agreement, which made complete sense to me considering the sensitive information I was privy to throughout that time. I see the importance of discretion within this industry, and I am happy to comply with any matters of confidence on behalf of Fidelity."
Written by Rachelle Enns on September 28th, 2021
Discovery
18. Which factors do you believe impact the growth of the wealth management industry the most?
What You Need to Know
The interviewer would like assurance that you understand how the wealth management industry works and understand Fidelity's unique approach. Thoroughly research everything you can, on and off Fidelity's website. Such as, "Insights from Fidelity Wealth Management is your go-to source for the latest economic news and thinking on the current markets from top Fidelity thought leaders and our partners." Your answer will inform them of your work ethic and whether you have thought leadership potential within the wealth management realm. Be prepared to discuss any items you have recently read in the news or the reputable sources you turn to when looking for reliable and up-to-date information on wealth management.
Written by Kevin Downey on March 8th, 2023
Experienced Example
"I follow blogs and publications from various companies such as your own, Charles Schwab, Vanguard, and Edward Jones, among others, to stay in the know regarding the industry and Fidelity's competitors. The factors and topics touched on the most include previous financial crises, adapting to quickly changing markets, shareholder expectations, industry regulations that change often, and milestones in tech. I believe that together, these topics shape the wealth management industry in a sometimes unpredictable way."
Written by Rachelle Enns on September 28th, 2021
Answer Example
"According to a very intriguing report released recently by Deloitte, there are ten primary factors that impact the wealth management industry. These include a higher intensity of competition, increased regulatory burdens, a new generation of investors who think entirely differently, and the introduction of artificial intelligence and machine learning into the wealth management industry. These are to name a few. It's important to me that I keep up with these rising trends as they directly impact my career."
Written by Rachelle Enns on September 28th, 2021
Discovery
19. Do you have a personal or professional mission statement?
What You Need to Know
Think of your professional mission statement as an abbreviated elevator pitch that highlights who you are, where you come from, why you are here, and where you are going. For insights on how to go about this, examine Fidelity's mission statement, "We Are Fidelity. Since Fidelity's founding in 1946, our focus has been on strengthening and securing our clients' financial well-being through exceptional service and innovative solutions." Use this opportunity to highlight what makes you unique professionally and what motivates your work.
Written by Kevin Downey on March 8th, 2023
Experienced Example
"I work to better the lives of each client. That is my mission. I want my clients to truly feel that I care about their financial wellness and long-term financial plan. They should always know and be able to see that I will do what it takes to ensure they are set up for success for their short and long-term financial goals."
Written by Rachelle Enns on September 28th, 2021
Diversity
20. What's your approach to working with individuals with different backgrounds or points of view than your own?
What You Need to Know
Your interviewer is curious about your level of cultural competence and how well you would be able to collaborate in a diverse and inclusive work environment, and how well you would be able to serve their diverse clientele. As they state on their careers site, they are interested in "hiring and developing employees that reflect who we want to be. You can't serve customers from all walks of life without employees that understand how they live. That's why we believe diversity and inclusion are two of the most important words in business today, not as boxes to check, but as the insights, experiences, and perspectives that help drive innovation and results. We are committed to building an enduring culture of inclusion and belonging that will attract, develop and retain a diverse workforce."
Written by Kevin Downey on March 8th, 2023
Answer Example
"Well, when it comes to addressing their unique needs and approach to finance, I would try to reach a respectful and mutual understanding of how I can serve them best. If their upbringing, walk of life, or cultural background factors into their financial planning, I would respect their wants and needs. Otherwise, I would approach everyone the same."
Written by Kevin Downey on March 8th, 2023
Education
21. How do you stay current on developments and trends in wealth management?
What You Need to Know
When serving their clients, they want to make sure you can uphold their reputation as a trusted resource. Share with your interviewer what sources you turn to for your industry knowledge. Spend time exploring their site, such as their "Fidelity Newsroom," where they offer press releases and cover topics from digital media, social media, and hot topics from thought leaders. Mention the reputable publications you lean on, and feel free to ask the interviewer for a recommendation, too! Asking for recommendations or talking shop can break the ice, open up a conversation, and make you a more memorable candidate.
Written by Kevin Downey on March 8th, 2023
Experienced Example
"I rely on a variety of resources to ensure that I get a broad scope of opinion and information. The sources I rely on most include The Wall Street Journal, CNBC, Barron's, and Financial Advisor Magazine. If there are any resources not mentioned that Fidelity advisors use most frequently, I would love to hear!"
Written by Rachelle Enns on September 28th, 2021
Education
22. Do you have your Certified Financial Planner (CFP) designation? If not, is this something you would like to achieve?
What You Need to Know
Being a Certified Financial Planner (this may be called something else depending on your region) is a prestigious designation because it shows your clients that you can meet their needs despite the evolving requirements in the financial planning realm. You'll study various topics during your certification, including financial analysis, retirement plans, education, disability plans, economics, credit and debt, investments, law, insurance, and more.
Written by Kevin Downey on March 8th, 2023
How to Answer
If you possess certifications, go into deeper detail than what is listed on your resume. Take the time to discuss what you learned and express the importance of continued education. If you are not yet certified, let the interviewer know you are eager to work towards industry designations. One of the benefits Fidelity offers is assistance with licenses and certifications. "Pursue your FINRA Series 7 and/or Series 63 licenses working in our Regional Centers to take your career to the next level as a licensed financial broker. Tuition reimbursement for online or in-person course work in pursuit of new certifications."
Written by Kevin Downey on March 8th, 2023
Experienced Example
"I believe it's imperative to be part of a national body that educates professionals in the wealth management industry. I am a Certified Financial Planner and enjoy the benefits of having the CFP letters behind my name. They signify trust and knowledge, two things an investor should always look for. I will continue to educate myself past the CFP designation as my career continues."
Written by Rachelle Enns on September 28th, 2021
Answer Example
"I have registered for my first information session and plan to earn my CFP designation in the next two years once the board approves my application. I look forward to offering additional knowledge to my clients, and this designation is an important first step. Other than the CFP, are there any designations you recommend obtaining for Financial Advisors at Fidelity?"
Written by Rachelle Enns on September 28th, 2021
Education
23. Walk me through your education and how it relates to a career in wealth management.
What You Need to Know
While your formal education and industry training will surely be on your resume, the interviewer would like you to dig deeper and bring this education to life by discussing how your education has prepared you for this job with Fidelity. Also, spend some time exploring how Fidelity supports continuing education and training. On their careers page, they advertise you can "assess, build, and align your development plan through resources like our skill-building classroom and online courses. Video-based training for technology, leadership, management & more. Your facilitator, manager, and business partners will give you ongoing support as you develop in your role and provide personalized feedback and coaching. A range of talent development programs to support career mobility."
Written by Kevin Downey on March 8th, 2023
How to Answer
If you have a finance-specific post-secondary degree, this answer will be straightforward. You can list completed coursework applicable to the products and services offered at Fidelity. If you do not have an applicable degree, consider what you learned at your highest levels of education and how that knowledge applies (or will apply) to your work. Some of these skills could include:
- Proposal Writing
- Public Speaking
- Presentation Building
- Independent Learning
- Academic Research
Written by Kevin Downey on March 8th, 2023
Experienced Example
"I earned my MBA from XYZ University. My degree allowed me to delve into econometrics, economics, corporate finance, individual investment, statistics, and portfolio management. Perhaps most importantly, my MBA has also allowed me to vastly expand my professional network, which I foresee being quite useful in this role with Fidelity. I am grateful for my education and how well it has supported my career."
Written by Rachelle Enns on September 28th, 2021
EQ
24. How do you react to setbacks in portfolio management?
What You Need to Know
Working in wealth management can be a bumpy ride as the market ebbs and flows and financial regulations shift. For this reason, the interviewer at Fidelity would like to know that you can handle the ups and downs of the industry. Be prepared to discuss how you respond to setbacks and maintain a sense of calm and direction amidst a potentially volatile market.
Written by Rachelle Enns on September 28th, 2021
1st Experienced Example
"As a commission-driven Financial Advisor, I am competitive with myself, my past performance, and hyper-targeted when it comes to achieving my goals. I become internally frustrated when I do not meet my goals or a 'done deal' with a client falls through. When this happens, I do a rundown of what I could have done differently, trying to pinpoint where things could have gone wrong. I aim to learn from the situation so that it doesn't hold me back again."
Written by Rachelle Enns on September 28th, 2021
2nd Experienced Example
"I allow myself a moment to be frustrated when a setback occurs, but never in front of a client or colleague. I am very good at keeping my cool and maintaining positive energy. I've lost clients before, from what I perceived to be closed business, and it sometimes hurts, especially financially; however, I never let a situation like that hold me back. In fact, setbacks fuel me to work even harder the second time around."
Written by Rachelle Enns on September 28th, 2021
EQ
25. What is your greatest strength as a finance professional?
What You Need to Know
Take advantage of this opportunity to showcase any unique talents or strengths you feel would be of value to Fidelity and set you apart from the herd. Demonstrate your self-awareness by pointing out a strength you've honed over the years. As they state on their site, they want their employees to "Bring Your Whole Self to Work and Thrive." Ideally, you'll discuss a skill directly relevant to the role you're applying for. Having a tangible example will strengthen your answer.
Written by Kevin Downey on March 8th, 2023
Answer Example
"My colleagues often comment on my communication skills. They appreciate that I'm true to my word and follow up with any questions if I'm not sure about something. I'm not afraid to ask clarifying questions and discuss the next steps and deadlines to make sure everyone is on the same page."
Written by Rachel Hills on August 8th, 2021
Experienced Example
"I have been told by previous supervisors that I take the initiative in my work. I proactively work to sort out problems when they arise and work effectively in a team when necessary to fix an issue. During an end-of-year review with my boss last year, she commented on how much she appreciates my initiative and leadership when a stressful situation pops up."
Written by Rachel Hills on August 8th, 2021
EQ
26. What is your greatest weakness as a finance professional?
What You Need to Know
This common interview question is an opportunity to demonstrate your self-insight and emotional intelligence. Honesty and self-awareness are key to this question. Give an honest answer with a real weakness you have been focusing on and the actions you've taken to take charge of your professional development. Furthermore, choose a weakness that this opportunity with Fidelity can help you overcome, like building upon an underdeveloped skill set that this position uniquely offers. As Abby Johnson, Fidelity's chairman, and CEO, says, "We are committed to helping drive meaningful change and progress." Fidelity states on their career pages that they have "dedicated mentors to help you grow into new areas of Fidelity's business as you develop new skills."
Written by Kevin Downey on March 8th, 2023
Answer Example
"I've been working on finding my voice when meeting with upper-level management. While I know the ideas I bring to the table are valuable, I've always been introverted and have been working on feeling more confident with pitching ideas in these meetings. This has been my primary area of focus for improvement in the last few months. One of my colleagues even recently commented that he had noticed a difference in the frequency of my contributions."
Written by Rachel Hills on August 8th, 2021
Experienced Example
"I take a lot of pride in my work and often struggle to delegate tasks to other members of my team. Even though I trust my coworkers and know what fantastic work they do, I've gotten into the habit of seeing tasks through from start to finish. Eventually, this was no longer feasible with the new responsibilities I had taken on, so I've been working on feeling more comfortable asking for help from my colleagues when necessary. While this weakness is still a work in progress, I've learned how important it is to communicate effectively with and rely on my team."
Written by Rachel Hills on August 8th, 2021
Experience
27. How do you show potential clients that you are a trusted source of information on wealth management and other financial topics?
What You Need to Know
An advisor or professional in the financial industry must instill confidence in their clients. Your clients have to trust that you are in the know and up-to-date, able to protect their interests and grow their wealth. Describe how you show potential clients that you should be their go-to source concerning their financial future. Take this further by sharing resources they would find of value to increase their loyalty to your offerings. Such as suggesting the Fidelity resource library, where they can find articles, information, and insights. Also, Fidelity "Launched two new newsletters, Smart Money for young investors, and Wealth Insights Weekly for investors with more complex needs, and more than 300,000 customers and prospects subscribed in the first year."
Written by Kevin Downey on March 8th, 2023
1st Experienced Example
"As a wealth management professional, it's most important that I show my clients the value they would receive from working with me long before they officially hire me. Every quarter, I provide my clients and prospective clients with an in-depth market report. I research and write the report myself, ensuring that I am a thought leader and someone they can trust. If big news comes out, I aim to be the first person in the inbox to demonstrate that I'm on top of important news that could affect their assets. I make myself available through phone calls and Zoom meetings, even by putting in extra hours. My clients' trust and peace of mind are my top priority."
Written by Rachelle Enns on September 28th, 2021
2nd Experienced Example
"Showing that I am with them every step of the way is crucial. I will give reading recommendations to my prospective clients and do everything I can to empower them. When a potential client sees that I am looking out for them, even when they haven't committed to working with me, I bring trust and value to the equation."
Written by Rachelle Enns on September 28th, 2021
Experience
28. What skills did you learn in your current role that will help you succeed at Fidelity?
What You Need to Know
Make sure you review the position description before the interview, taking note of the skills that seem the most important, as well as those with which you are most aligned. "At Fidelity, we're looking for people who see things differently, who think big and deliver bigger, we're seeking difference-makers. Compassionate, hard-working innovators." Many job postings are repetitive, and you should see which skills come up more than once or twice. Focus on those keywords when answering this question, relating them to the responsibilities and achievements in your current role with examples.
Written by Kevin Downey on March 8th, 2023
Experienced Example
"I have learned a lot from my current organization and have gained many valuable new skills. In the Fidelity job posting, I noticed that you are seeking someone with solid results in cold calling, gaining referrals, and networking. These are skills that I have worked very hard to master over the past few years. I make around 100 cold calls per week, and my referral rate is well above 40%, nearly double that of my co-workers. These are just some of the skills that will help me succeed with Fidelity."
Written by Rachelle Enns on September 28th, 2021
Answer Example
"During my internship, I learned a lot about the art of conversation and getting to know clients by asking the right questions and being unafraid to dig deeper. Your job posting mentions looking for a junior advisor who is curious by nature, knows how to ask the best discovery questions, and is great with research. These are just some of the skills I have recently developed, and I am eager to apply them in this role with Fidelity."
Written by Rachelle Enns on September 28th, 2021
Experience
29. Would you cold call for a year if it meant you had a steady client list afterward?
What You Need to Know
This question addresses your approach to working smarter versus working harder. It also tests how familiar you are with Fidelity's approach and methodologies. "Financial planning is a little different at Fidelity. There's no cold calling or prospecting. Everyone from Financial Consultants and Private Client Specialists, to Branch Office Managers and Wealth Management Advisors are all focused on making sure our customers get the most out of their investments and their relationship with Fidelity by providing needs-based financial planning and wealth management expertise."
Written by Kevin Downey on March 8th, 2023
Experienced Example
"I am more than willing to put in time and sweat equity into building my book of business via cold calling; My years of experience in client development within wealth management give me a good amount of latitude. However, I will never stop trying. I am fully prepared to roll up my sleeves and make as many cold calls as needed to maximize success. Upfront investment in the long-term health of my job is an approach that I can get behind."
Written by Rachelle Enns on September 28th, 2021
Job Satisfaction
30. How do you balance your work life and personal life?
What You Need to Know
Your interviewer is curious about how you maintain a healthy work-life balance and ensure job satisfaction without burning out. They offer several benefits in this regard but want to make sure you contribute equally. As they advertise under the benefits section on their careers pages, "WORK/LIFE PROGRAMS THAT WORK FOR YOUR LIFE. The complexities of modern life continue to evolve along with the work we do each day, so Fidelity offers programs tailored to the ever-changing needs of our associates to empower them to live their best lives at work and home."
Written by Kevin Downey on March 8th, 2023
Answer Example
"I make sure my professional life is thoroughly prepared for and organized. Doing so optimizes my downtime and reduces my stress. I like to have flexibility with my downtime. I unwind by working out, hiking, watching t.v. and reading."
Written by Kevin Downey on March 8th, 2023
Organizational
31. Tell me about the systems and tools that you lean on to do your job.
What You Need to Know
If Fidelity mentions any tools or tech in their job posting, be prepared to discuss your exposure to those during your interview. Perhaps they use specific software or programs to help analyze trends in the financial market. Talk to the interviewer about the tools you currently use and others you have used in the past. Share your methodology, any systems you've implemented for yourself or the workplace, and how you shore up your success. "If you're the type that's always looking for ways to improve performance and efficiency, Fidelity's team is for you." If you are new to your career, you can mention any programs you used at university or during your internship. Show the interviewer that you are eager and willing to learn.
Written by Kevin Downey on March 8th, 2023
1st Answer Example
"First and foremost, I use my CRM all day long and rely heavily on it when it comes to my pipeline of business and existing client portfolio. I use Capsule because it's a CRM that allows me to share progress with my team should we work on larger investment accounts together. Aside from my CRM, I also use email marketing automation software, allowing me to keep my leads warm with an email funnel that I have automated. A new tool I love is NestEgg Estimator, a Google app that takes my client's finances and breaks them down into income, taxes, assets, and debt, better helping me calculate their retirement needs. The app allows me to play out various scenarios, such as changes in job, expenses, and spending."
Written by Rachelle Enns on September 28th, 2021
2nd Answer Example
"I have been teaching myself a few new tools in anticipation of my first job in wealth management. These tools include Salesforce CRM, where I have been taking their free webinars and tutorials. I have used YouTube channels to learn additional tech, such as Black Diamond, a cloud-based portfolio management platform. I understand that Black Diamond will help me with information aggregation, customizing reports, and other tasks required as a junior advisor."
Written by Rachelle Enns on September 28th, 2021
Problem Solving
32. What is your approach to risk taking?
What You Need to Know
Your interviewer is curious whether you are risk-averse or are willing to take informed, calculated risks when lacking all the necessary information. As Edward C. Johnson the 2nd, Fidelity's founder once said, "Take intelligent risks rather than follow the crowd." So share how you approach taking calculated risks and how you would increase their clients' wealth.
Written by Kevin Downey on March 8th, 2023
Answer Example
"My approach to taking risks is taking them only when necessary. But when action needs to be taken, I won't lose my only commodity - time. I gather all the information I have according to what time allows and take the most conservative and cautious risks possible. But I won't stand around waiting for the right moment or the right conditions, and I will always have the client's interest at heart."
Written by Kevin Downey on March 8th, 2023
Salary
33. What are your salary expectations?
What You Need to Know
Answering this question can be tricky, so research and practice what you want to convey beforehand. Answering this question tactfully requires a balance between knowing your professional worth and understanding what Fidelity can realistically offer you for compensation. "All jobs have a broad salary range that accommodates those employees who are becoming proficient at their positions and those who are already quite skilled. Your starting salary will depend upon your experience and perceived proficiency at your job. Fidelity reviews its salary structure regularly to ensure we remain competitive with market conditions." Rather than giving a specific number, it's best to provide a realistic range that allows room for negotiation.
Written by Kevin Downey on March 8th, 2023
Experienced Example
"I'm looking for compensation aligned with my qualifications and experience. Given my graduate degree and six years of experience at (XYZ) company, I'm seeking compensation in the range of $75,000 - 80,000."
Written by Rachel Hills on August 8th, 2021
Answer Example
"Thanks for asking. I was hoping to get more information first about the salary range you're offering for this position. Would you be able to share that information with me?"
Written by Rachel Hills on August 8th, 2021
Salary
34. In this role, your compensation is tied to your productivity. How do you feel about working in a highly commissioned role?
What You Need to Know
Your interviewer is trying to gauge your confidence and ambition. Working on commission is not for everyone. While various roles at Fidelity are paid a base salary, most have the opportunity to earn additional compensation. "In addition to base pay, representatives can be eligible to receive Variable compensation based on one or more factors for a particular role. Or, annual bonus, a percentage of base salary, determined through a manager assessment which takes into consideration the representative's performance related to client and organizational business objectives."
Written by Kevin Downey on March 8th, 2023
Experienced Example
"I have worked in a commission-driven environment inside and outside the wealth management industry. I have made a fantastic living doing so because I believe in my capabilities, reach my goals, and keep the promises I make to myself and my clients."
Written by Rachelle Enns on September 28th, 2021
Answer Example
"Commission-driven environments are new to me; however, I like the idea of earning money based on how hard I work. I am not afraid of hard work, so, for that reason, I believe I can flourish in a highly commissioned role."
Written by Rachelle Enns on September 28th, 2021
Teamwork
35. How do you build relationships with your teams?
What You Need to Know
Your interviewer is curious about your approach to building relationships with coworkers and clients and earning their trust. "Our teams are driven, collaborative, and focused on making an impact for our customers. Full of growth opportunity, you can build relationships and develop the career you've always wanted." So share your approach to building a strong foundation, especially when onboarding at a new job.
Written by Kevin Downey on March 8th, 2023
Experienced Example
"I go in with transparency and strive to learn about those I will be working with. I ask for their insights, ask questions, learn what I can from them, and offer my help or services when appropriate. I try to build bridges anywhere I can and make it known my bridges are toll-free."
Written by Kevin Downey on March 8th, 2023