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.