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 plaintiffs maintained that Fidelity was a fiduciary to the plan in respect to the selection of investment options, but courts did not buy that argument. Separately, New York Life and USI Insurance face new 401(k) lawsuits.
Wealthtech has finally graduated from forcing adoption to focusing on innovative ways to bring financial advice into users' pockets.
Morningstar data show women are making little progress breaking into the ranks of portfolio managers.
The financial services industry relied on technology and innovation to adapt and keep business running throughout the pandemic, and should continue to embrace much of what was learned.
Companies that compensate workers with stock have a big incentive to get those employees to consider the holdings in the context of their overall financial plan, according to Fidelity.
The companies are the latest that work with thousands of financial advisers to make plans for employees or work with local officials to ease the introduction of vaccines.
Local governments have begun reaching out to Fidelity to explore a potential role to assist with the logistics of distributing the vaccines, according to a spokesperson.
More than half are seriously considering leaving the profession or retiring early. A third of those thinking about leaving for other fields were tenured professors.
Most of the new PEPs clients have not previously offered a retirement plan to their employees, often because of the administrative burden of setting up a 401(k).
Abbott Labs and Genentech won dismissals in cases against them, although plaintiffs can refile their complaints. Cerner Corp. and BlackRock have reached settlements in class-action cases against them.
Despite new figures showing higher savings rates and account balances, just over half of people said they are worried about how the pandemic will affect their financial security in retirement.
More than 1,300 comments from Redditors flooded the discussion, yet trading education was largely outshined by comments comparing Fidelity’s mobile app interface to Robinhood's.
Fidelity's new technology is designed to help advisers create ESG model portfolios and engage clients with impact investing.
Fidelity Investments became the latest to register with the Department of Labor as a pooled plan provider. The PEP, which appears to target small businesses, could significantly boost the company’s presence in that market – the bulk of Fidelity’s defined-contribution plan business is with large employers.
After 12 years as president of the division, Kathleen Murphy, 57, will depart this summer; her successor has not yet been named.
