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The wealth tech platform says its newly secured patent represents crucial advances in digitizing outdated manual processes.
Financial advisors offer their thoughts on the President's widely anticipated executive order to open retirement accounts to private market assets.
The SEC says First Liberty lured investors with high-yield promissory notes, then used fresh cash to cover defaults and interest owed to earlier investors.
The agency's decision to stay the approval process just hours after signing off highlights ongoing ambiguity for new crypto-focused ETF offerings.
Meanwhile, Cetera has boosted its own recruitment numbers with new additions from LPL and Osaic.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
