COMPANIES

Fidelity Investments

Office address: 245 Summer Street Boston, MA 02210
Website: www.fidelity.com
Year established: 1946
Company type: financial services
Employees: 75,000+
Expertise: benefits consulting, 401(k), life insurance, IRA, cash management, online trading, HSA, retirement, mutual funds, stock plan services, ETF, business news, investments, stocks, brokerage, bonds, 529 plans, investing, asset management, annuities
Parent company: N/A
Key people: Abigail Johnson (CEO), Rachael Brumund (VP), Bill Thornton (CTO), Kristen Darcy (SVP), Kathryn Condon (EVP), Brian Hurley (SVP), Bill Freitas (head), Amr Abdelhalem (SVP)
Financing status: N/A

Fidelity Investments is a Boston-based multinational financial services firm with over 75,000 employees serving 51.5 million individual investors worldwide. The company operates 216 US Investor Centers and 14 global sites across 11 countries, including India and Ireland. Managing $14.1 trillion in assets, Fidelity offers a broad range of investment, retirement, and financial management services.

History of Fidelity Investments

Fidelity Investments, originally known as Fidelity Management & Research, was formed in 1946 by Edward C. Johnson II to focus on common stock investments. In 1969, the company expanded internationally with the creation of Fidelity International Limited. By 1982, the firm made a significant move into retirement planning by introducing 401(k) products.

Under CEO Abigail Johnson, Fidelity launched the zero-expense Fidelity ZERO Funds and Fidelity Digital Assets in 2018 to support institutional investments in digital currencies. The company celebrated its 75th anniversary in 2021, marking decades of growth and innovation in financial services. The firm was an excellence awardee in the asset manager of the year category at the 2024 InvestmentNews Awards.

Products and Services of Fidelity Investments

Fidelity Investments offers a wide range of financial products and services tailored to meet the needs of individual investors, institutions, and advisors. Key offerings include:

  • retirement plans: 401(k)s, IRAs, and other retirement-focused investment options
  • brokerage services: self-directed trading accounts with access to various asset classes
  • wealth management: personalized financial advisory services for high-net-worth individuals
  • mutual funds: a diverse range of Fidelity-managed funds
  • ETFs: exchange-traded funds for diversified investments
  • financial planning and advice: professional guidance on saving, investing, and retirement planning
  • online trading: a platform for stock, ETF, and options trading
  • cash management: solutions for managing daily cash flow, including Fidelity’s cash management account
  • Fidelity Go®: a robo-advisor offering low-cost, automated portfolio management

Fidelity provides clients with accessible financial services, charging no fees or minimums for retail brokerage accounts. Their team supports customers with financial planning, from daily management to long-term goals.

Culture at Fidelity Investments

Fidelity Investments encourages employees to take smart risks and innovate, fostering a work environment that values diverse perspectives. The company offers flexible benefits that adapt to employees' changing needs throughout their careers. They provide a variety of benefits, including:

  • wealth and savings: 401(k) match, catch-up retirement contributions, student loan assistance, annual profit sharing
  • health and wellness: medical, dental, and vision coverage, prescription drug coverage, 16-week maternity leave, 12-week parental leave
  • work and life: educational assistance, dependent care options, concierge services, a minimum of four weeks paid time off
  • hybrid work schedule: many hybrid roles require onsite work every other week in a Fidelity office

Fidelity Investments is dedicated to creating positive change both within its organization and in the broader community. Through volunteer efforts and sustainability programs, the company promotes social responsibility and environmental stewardship. Its achievements are organized into the following categories:

  • community involvement: completed 1,700 projects, donated over 100,000 school supplies, and supported more than 65,000 students
  • charitable giving: Fidelity Cares® offers employees volunteering opportunities, while Fidelity Charitable® helps donors contribute to over 406,000 charities since 1991
  • education support: pledged $250 million over five years to improve education for underserved communities through the Invest in My Education (ME) initiative
  • sustainability efforts: cut landfill waste by 38%, reduced paper, energy, and water consumption, and added eco-friendly features like green roofs and wildlife gardens to offices

Their diversity and inclusion (D&I) strategy aims to build a truly diverse workforce that strengthens the support offered to employees, clients, and communities. The company helps associates find career paths that align with their unique goals and personalities. Fidelity’s commitment to D&I is reflected in various achievements, including:

  • 42% of new hires in 2023 were people of color
  • $480 million spent with diverse suppliers
  • 84% of employees believe Fidelity fosters an inclusive culture
  • employee groups like ERGs and SIGs support engagement and development

Fidelity offers internships and full-time roles, providing students with the chance to start a fulfilling career alongside top industry professionals. They hire interns across eight key skill areas, ensuring diverse opportunities for growth. They are committed to making a positive impact on its employees and the communities it serves.

About Fidelity Investments CEO Abigail Johnson and Key People

Abigail P. Johnson is chair and CEO of Fidelity Investments, overseeing the firm’s management, brokerage, and other financial services. She started at the company in 1988 in Equity Research and Investments and now manages the firm’s corporate operations and all its business units. Holding a BA from Hobart and William Smith Colleges and an MBA from Harvard Business School, she serves on the boards of Harvard and MIT.

Here are some of the key people leading various departments at Fidelity Investments:

  • Rachael Brumund, VP, manages the Pacific Northwest territory and provides Fidelity Asset Management solutions to financial consultants in the qualified plan business
  • Bill Thornton, chief technology officer, oversees Fidelity's technology strategy and digital infrastructure
  • Kristen Darcy, SVP and head of the asset management board program, manages the processes and resources dedicated to the operation of Fidelity’s fund boards
  • Kathryn Condon, EVP of marketing and advertising channels, leads a team focused on creating innovative marketing experiences for customers
  • Brian Hurley, SVP product lead for conversational AI experiences, focuses on improving digital interactions for customers and associates through AI solutions
  • Bill Freitas, head of technology and global services, leads a global team to develop solutions that improve client and customer experiences
  • Amr Abdelhalem, SVP head of cloud platforms, drives the company’s adoption of cloud computing and advanced digital technologies like AI and DevOps

The Future at Fidelity Investments

Fidelity's research reveals that nonprofit retirement savers have tripled their account balances over the last decade, growing from $70,000 in 2014 to $249,000 in 2023. This steady growth has led to a record number of 401(k) millionaires in Q2, driven by strong markets and consistent contributions. These findings underscore their commitment to enhancing its services and providing long-term financial planning solutions.

Fidelity recently reported that more women are actively investing in stocks, taking greater control of their financial futures through equity investments. Despite this progress, many continue to face financial stress and uncertainty. Fidelity Investments supports women in building lasting wealth by offering customized education and strategies to meet their financial goals.

Displaying 2132 results
Fidelity using eMoney to create custodial competitor's nightmare
FINTECH MAR 17, 2016
Fidelity using eMoney to create custodial competitor's nightmare

Fidelity Investments has set its sights on the ultimate data dashboard for its advisers, likely using eMoney Advisor's technology and the financial planning software's relationships with custodial competitors.

Fidelity study says half of RIAs foresee negative business impact due to DOL fiduciary rule
Fidelity study says half of RIAs foresee negative business impact due to DOL fiduciary rule

Registered investment advisers are already held to a fiduciary standard by the SEC, but many envision higher costs and time spent on compliance-related tasks.

Best junk bond manager of decade says recession fears overdone
MUTUAL FUNDS MAR 03, 2016
Best junk bond manager of decade says recession fears overdone

Fidelity's Mark Notkin sees mid-to-high single-digit returns for 2016

Oracle Corp. 401(k) plan targeted for excessive fees
Oracle Corp. 401(k) plan targeted for excessive fees

Oracle's plan and its fiduciaries are the latest to be targeted in a slew of excessive-fee suits to emerge over the past several weeks.

Fidelity suspends MetLife annuity sales as insurer mulls breakup

The second-largest U.S. mutual fund company stopped sales of MetLife's annuities in light of uncertainty surrounding a possible sale of its retail unit.

How should retirement plans pay their 401(k) fees?
How should retirement plans pay their 401(k) fees?

Helping allocate retirement plan fees to service providers is becoming increasingly important for advisers, with several different mechanisms to consider.

MassMutual enters long-term distribution deal for MetLife fixed indexed annuities
MassMutual enters long-term distribution deal for MetLife fixed indexed annuities

The deal is part of a broader deal announced Feb. 29 between the two insurers, which includes the purchase of MetLife's Premier Client Group.

MUTUAL FUNDS FEB 07, 2016
Edward Jones' success may lead to trouble

With regulators cracking heads over sales of proprietary products, could the overwhelming success of Edward Jones' Bridge Builder program be a problem?

Adviser groups, financial firms keep cash flowing to congressional candidates

Organizations that dominate lobbying expenditures also donate the most to political campaigns. Leading the charge are NAIFA and the ICI, while TD Ameritrade contributed just $9,000.

The case for looking away from your 401(k) when stocks tumble

The rule of thumb for retirement plans during market volatility is, in fact, to do nothing.

Fidelity fields record calls for 401(k) advice as markets tank
Fidelity fields record calls for 401(k) advice as markets tank

As key indexes first started going south earlier this month, almost 4 million people contacted Fidelity on January 4 alone, either online or by phone, to check on their retirement savings.

Fidelity offers service to combat elder financial abuse
Fidelity offers service to combat elder financial abuse

The firm's clearing and custody division is partnering with EverSafe to help advisers protect senior clients from fraud.

EQUITIES JAN 17, 2016
Investing in India is gaining appeal with advisers

The world's seventh-largest economy is gaining appeal with advisers, and investors are salivating over the country's rich demographics.