Fidelity Background Check: Everything You Need to Know

What is Fidelity Background Check?

A Fidelity Background Check refers to the comprehensive vetting process conducted by Fidelity Investments, one of the largest financial services corporations globally. This background check is part of Fidelity’s hiring process to ensure that potential employees meet the high standards of integrity, reliability, and professionalism expected by the company.

What Does Fidelity Look for in a Background Check?

Fidelity Investments, like many other financial institutions, conducts comprehensive background checks on potential hires to ensure they meet the company’s standards for integrity, reliability, and professionalism. While specific criteria may vary depending on the position and level of responsibility, there are several key areas that Fidelity is likely to examine in a background check:

1. Employment History. Verification of previous employment, including positions held, duration, responsibilities, and reasons for leaving, to confirm the candidate’s experience and integrity in professional settings.
2. Educational Background. Verification of educational credentials claimed by the candidate, including degrees obtained, institutions attended, and dates of attendance, to ensure qualifications are accurately represented.
3. Criminal Record. Checking for any criminal history that might affect the candidate’s suitability for the role, especially given the sensitivity and trust required in financial positions. This includes both felony and misdemeanor convictions, although the relevance of findings may vary based on the nature of the crime and how long ago it occurred.
4. Credit History. Examination of the candidate’s credit history, particularly for roles that involve financial responsibilities. Poor credit might raise concerns about a candidate’s ability to manage finances, which is crucial in the financial sector.
5. Regulatory Checks. For positions that require licensing or are subject to regulatory oversight (e.g., financial advisors, brokers), checks to ensure compliance with federal and state financial regulations, including any past disciplinary actions or sanctions.
6. Identity and Legal Working Status. Verification of the candidate’s identity and eligibility to work in the jurisdiction where they will be employed, which is standard for all types of employment.
7. Professional References and Character Assessment. Contacting provided references to gain insights into the candidate’s work ethic, professional accomplishments, and character. This can also include questions about the candidate’s integrity, reliability, and compatibility with Fidelity’s corporate culture.
8. Social Media and Online Presence. In some cases, an examination of the candidate’s presence on social media and online may be conducted to identify any potential red flags or behavior that could reflect poorly on the company.

How Long Does Fidelity Background Check Take

It’s important to note that Fidelity is likely to tailor the depth and scope of the background check to the specific requirements of the job. High-level positions or roles with significant financial responsibility might warrant more detailed investigations compared to other roles. Additionally, all background checks are conducted in compliance with applicable laws and regulations, including the Fair Credit Reporting Act (FCRA), which governs how background checks must be conducted and how information can be used in the hiring process.

The length of the background check process performed by Fidelity Investments can vary significantly, depending on a number of key factors. Generally speaking, this process can take anywhere from a few days to several weeks. To provide a more detailed Manuel-style perspective, it is crucial to understand the elements that can influence the time needed to complete these checks:

Complexity of Candidate History. Candidates with extensive international experiences, multiple previous employers, or educational credentials obtained outside the country may require more in-depth verifications and therefore more time to validate their information.

Regulatory Requirements. Positions that are under specific regulatory oversight may require additional checks or certifications, which could lengthen the duration of the process.

Hiring Volume. Periods of high hiring demand or delays from external agencies tasked with performing parts of the verification may affect how quickly these checks are completed.

Common Mistakes in Fidelity Background Check

Common Mistakes	Potential Causes	Solutions
Incorrect employment history details	Inaccurate dates of employment, job titles, or responsibilities listed on the resume.	Double-check your resume for accuracy. Verify employment dates, job titles, and responsibilities with past employers if necessary.
Discrepancies in educational background	Listing degrees not earned, incorrect graduation dates, or institutions.	Ensure your resume accurately reflects your educational achievements. Obtain transcripts or diplomas as proof of your credentials.
Unresolved financial issues	Overlooked debts, bankruptcies, or poor credit score not disclosed upfront.	Review your credit report for accuracy and resolve any disputes or discrepancies before applying. Disclose any significant financial issues during the interview process.
Criminal record misunderstandings	Failing to disclose a criminal record or misunderstanding the impact of a record on employment eligibility.	Be honest about your criminal history if applicable. Understand that not all criminal records disqualify you from employment, depending on the nature and relevance.
Miscommunication of regulatory compliance	Assuming compliance with financial regulations without proper documentation or misunderstanding the requirements.	Obtain and organize all relevant certifications, licenses, and proof of compliance with financial regulations.
Identity or legal working status issues	Incorrect or outdated personal information, such as name changes not legally updated or visa issues.	Ensure all personal documentation is current and accurately reflects your legal name, work eligibility status, and any other relevant information.
Negative references or character issues	Poor choice of references or unresolved disputes with former employers.	Select references who can positively attest to your work ethic, accomplishments, and character. Attempt to resolve any outstanding disputes with former employers if possible.
Inappropriate social media content	Publicly accessible content that may be considered unprofessional or in conflict with Fidelity’s values.	Review and adjust your social media privacy settings. Remove or address any content that could be viewed as unprofessional or inappropriate.

How to Dispute Fidelity background Check?

To dispute errors in a background check conducted by Fidelity, it is crucial to proceed in a structured and methodical manner to ensure that any inaccuracies are properly corrected. Below I present a detailed Manuel-style procedure, focused on precision and clarity in each step:

1. Request for Copy of Background Check Report

Under the Fair Credit Reporting Act (FCRA), you have the right to obtain a copy of your background check report if any adverse action (such as denial of employment) has been taken based on your results.

Request this copy from both Fidelity and the background report provider to identify incorrect information.

2. Error Identification

Please carefully examine the report for any inaccuracies, errors, or outdated information that may have negatively impacted your employment prospects.

3. Collection of Supporting Documentation

Gather documents that demonstrate that the reported inaccuracies are errors. This may include pay stubs, employment records, court documents, educational certificates, or identification documents.

4. Communication with Background Report Provider

The FCRA requires the background check company (also known as a consumer reporting agency) to investigate any disputed information within 30 days of submitting the dispute.

Contact the report provider directly, in writing, to dispute any inaccuracies. Provide a clear explanation for each error and include copies of your supporting documentation.

5. Follow up with Fidelity

Inform Fidelity’s HR department or hiring manager about the dispute process. Please provide a summary of the identified inaccuracies and evidence to support your claims.

Ask Fidelity to reconsider your request while the dispute is resolved.

6. Contact with Relevant Agencies or Institutions

If the error comes from incorrect information provided by other institutions (such as credit bureaus, courts, schools), you may also need to contact these entities to correct your records.

7. Record Keeping

Please retain copies of all correspondence and documents relating to your dispute, including emails, letters and documents sent or received during the process.

8. Waiting for the Result

The background report provider is required to investigate your dispute and report the findings to you. If your dispute results in changes to your report, they must provide you with an updated copy of your background check at no cost.

9. Request for Reevaluation

If the dispute leads to corrections to your background check, request that Fidelity reevaluate your application with the corrected information.

10. Legal advice

If you encounter difficulty disputing errors or if the background report provider does not adequately address your dispute, consider seeking legal advice. An attorney specializing in employment law or consumer rights under the FCRA can offer guidance on next steps.

Disputing a background check report is your right under the FCRA, and following these steps can help ensure that employment decisions are based on accurate and up-to-date information.