Fidelity Investments plans to hire 4,000 workers over the next six months as the money manager benefits from this year’s turmoil while some of its rivals struggle.
The Boston-based firm said Tuesday the additions will be in areas including financial advisers and customer-service agents, and represent a 15% increase in associates who focus on clients.
Millions of new and existing customers are opening accounts, increasing trading activity and contributing additional savings, Fidelity said in a statement. Another money management giant, BlackRock, reported record assets Tuesday as investors poured in money across its product line.
“Fidelity’s hiring moves during troubled times is consistent,” said Jim Lowell, editor of the Fidelity Investor newsletter. “During past major market and economic crises it has strived to come out of the difficult period having hired more people and gained overall market share.”