‘A bull market for advice’ - Fidelity’s Marc Squires reflects on 2025’s lessons and future challenges

For Marc Squires, senior vice president and head of clearing sales and relationship management at Fidelity Investments, 2025 has underscored both the resiliency of financial advisors and the deep philanthropic spirit that runs through the industry. In an interview with InvestmentNews, Squires reflected on Fidelity’s longstanding commitment to the nonprofit Invest in Others, the forces shaping the current year, and what he expects as firms head into 2026.

Squires, who will mark 27 years at Fidelity this December, has worked across retail, workplace, and institutional businesses, ultimately joining the board of Invest in Others in late 2022. He describes the organization as uniquely positioned to bring the industry together around a shared mission of service. “Invest in Others is a really unique organization, sort of at the at the center of so many financial services organizations… It's everyone together focused on the right thing, which is giving back.”

For Squires, the work is personal, and the stories recognized at the annual gala this past September illustrate the breadth of advisors’ commitments to their communities. “It's so moving to see the work that is done, and it's the best of financial services on that evening and throughout the course of the year.”

He believes the philanthropic instinct is deeply intertwined with the advisor mindset. “Financial advisors… are embedded in their communities… They are best suited as they work in those communities, to see opportunities and to see need and to fulfill those needs.”

A defining year for advice
 

Beyond philanthropy, Squires says 2025 has been another year of strong momentum for advisors and firms navigating a shifting market and evolving client expectations.

Within Fidelity’s clearing and custody businesses, he sees continued growth coupled with a rising demand for professional guidance. “We continue to see strong business results that our clients are achieving… there was a great saying - there's a bull market for advice, and that bull market for advice still stands.”

That demand, he says, is driven by the increasing complexity of financial decision-making across generations and life stages. “I think the world is complicated… at different moments of truth in your life, I think you know that need for advice and the role of an advisor can become more prominent.”

Even amid volatility — especially the swings seen this past April — Squires believes advisors have shown strength in guiding clients through turbulence. “We certainly saw volatile markets in 2025… but it's a complicated journey, and that need for advice will not go away anytime soon.”

Looking ahead to 2026

As 2026 approaches, Squires is candid that uncertainty is inevitable — but also manageable. “At the start of every year, there's always going to be hurdles and uncertainties. The problem is, you just don't know what they are.”

He believes Fidelity’s scale and insight-sharing model position the firm well to support institutions, RIAs, and advisors through whatever emerges. “I think no one is better equipped to work with our clients… The thing we can do every day is talk to clients about what we're seeing other clients, and then what's Fidelity's opinion, and if we do that every time we've delivered a home run.”

With thousands of advisor and institutional relationships, Squires says the focus remains on helping firms anticipate challenges while capitalizing on opportunities in alternatives, digital assets, and a still-expanding ecosystem of investment options.

He closed by reaffirming Fidelity’s dedication to Invest in Others and its mission going into 2026. “We're so proud of our involvement with invest in others, which is an incredible organization, and we're looking forward to continuing to grow and invest in others next year.”