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.
The agency lending platform joins a compact group of less than a dozen companies that enable funds to lend securities to be sold short.
CEO James Gorman never could muster much enthusiasm for ETrade Advisor Services, which would have been a direct competitor to the bank's 16,000 financial advisers.
ETF issuers are betting en masse that U.S. regulators will green-light a fund tracking the largest cryptocurrency.
The giant asset manager also intends to add technology workers at operations centers.
The advertisement is just the latest ploy in an industry war over the throngs of retail investors flocking to digital wealth platforms. The new account openings will certainly have repercussions.
Over the past several years, the pace of dealmaking has accelerated, and valuations for desirable RPAs have climbed to earnings multiples that not long ago would have stunned buyers and sellers. That makes the present a very good time to consider becoming part of a larger firm.
In the past week alone, at least three PEPs have been announced. Those include plans from American Trust, Access Retirement Solutions and a new entity from venture capital firm Magis Capital Partners, Sallus Retirement.
The app is focused on capturing the influx of young investors that are now seeking out financial services. Fidelity Spire is 'goal-based' and enables users to track progress on financial goals by linking their accounts.
The company's new Retirement Select service is competing against state-sponsored auto IRAs, and it comes as other firms are exploring the pooled-employer plan market.
The new hires, including former TD Ameritrade and Fidelity execs, are a strategic move by Envestnet to build a digital financial wellness ecosystem.
Merrill’s digital advice platform, which launched in 2017, originally had a minimum investment of $5,000.
The move follows Schwab’s decision to shut down its corporate political action committee following the Jan. 6 violence at the Capitol.
The company's proposed exchange-traded fund would track the cryptocurrency using pricing from U.S.-based exchanges including Bitstamp, Coinbase and Gemini.
A Fidelity study underscores the importance of financial planning, but reveals that the term means different things to people of different ages.
The more fee-based business you do, the more imperative it is to focus on current clients and your ability to hold onto them.
