Pros
Comp and benefits are solid. Company is less "risky" than other financial institutions. Even with the rough times over the last few months...some areas of the company are doing quite well. Fidelity is also very large, so there are many internal opportunities. Being private is also sometimes a positive since hitting quarterly earning targets is not a requirement and they can spend $$ if needed.
Cons
Last couple of years have been a continual circle of re-organizations and changing priorities, projects are not finished before they are cancelled and the next one begins. As a result morale is pretty low, and most associates are just going through the motions. Many of the Sr. mgt team are from "the outside" so many of the strategies are new.