Assets under administration at Fidelity increased 42.6% on a year-over-year basis in the first quarter to $10.4 trillion, the company said in a release.
The investment giant also saw a wave of younger new clients, with 1.6 million accounts out of the 4.1 million total number of retail accounts opened across Fidelity in the first quarter — up 156.3% compared to the first quarter of 2020 — being accounted for by investors 35 years old or younger. The increase in the number of younger investors was 223%, the company said.
Fidelity’s total number of accounts in the first quarter were 83.4 million, up 12.1% compared to the comparable period a year ago, and of those, 9.7 million were with Fidelity Institutional. Of those, 400,000 were net new accounts.
The firm's multiyear sponsorship agreements with Duke and Oregon athletics put it in front of a new generation of high-potential NIL earners.
The move follows earlier dealmaking and leadership changes as the Overland Park-based hybrid RIA builds toward a nonprofit-focused institutional platform.
From building multigenerational relationships to entering new adult planning areas and building healthy financial habits, higher education can be a gateway for advisors to become trusted partners to families.
The wirehouse-focused aggregator's rollout to more than 100 advisors lands as financial advisors race to add tax and estate planning tools.
Also, Orion has added BlackRock, Fidelity, and Vanguard to its custom portfolios suite, and RedBlack has set up a new headquarters after crossing a trillion-dollar milestone.
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
