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.
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.
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:
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.
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:
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:
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:
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.
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:
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.
State Street's product is far from being the first in the DC market — but the plans using it are potentially the largest to opt for a target-date series paired with an insurance feature.
Guaranteed Income Direct is integrated into Fidelity’s employee benefits portal and offers workers immediate income annuities at institutional pricing from the insurance company of their choice.
The law firms that filed the case point to record-keeping fees that were higher than those for other plans they identified.
A revamped model could offer new options for advisers who want to pay a more straightforward fee.
The asset manager is expanding into private equity with the acquisition of Lexington, which is a big player in the booming secondaries market, which involves buying maturing portfolios from PE investors.
This year's awards recognized 13 winners in categories such as Advocate of the Year, Outstanding Leader of the Year and ESG Investment Manager of the Year.
The London-based firm, which manages more than $785 billion, plans to give portfolio companies time to adopt to its tougher CO2 requirements.
Fidelity is increasing its limit for student loan contributions for its employees, and MassMutual is letting people apply vacation time to payments.
Gen XYZ investors have been the most likely to drop their financial professionals during the pandemic, according to Fidelity Institutional research.
The new offering, called Pershing X, is headed by Ainslie Simmonds and will enable RIAs to outsource almost all of their practice management needs, like client relationship and investment management tools.
The financial services firms that people identified as their main source of retirement advice tended to be those with the biggest 'share of wallet,' consumer research firm Hearts & Wallets found.
The biggest players are getting bigger, with the top four increasing their share of the health savings account market from 56% to 60%, according to a recent report by Morningstar Inc.
He succeeds Pamela Norley, who is retiring after a 25-year career at Fidelity.
The son of a man murdered by a Colombian guerrilla group had sued for access to a 401(k) account connected to the perpetrators.
Looming over the RPA Record Keeper Roundtable and Think Tank was the convergence of wealth, retirement and health at work.
