Fidelity Wealth boasts $325B in assets

Fidelity Institutional Wealth Services' total client assets reached $325 billion, up 50% from last year.
NOV 14, 2007
By  Bloomberg
Fidelity Institutional Wealth Services today reported that total client assets under administration reached $325 billion, up more than 50% from the prior year. Fidelity’s client assets have increased at a compound annual growth rate of 40 % over the past five years. The Boston firm also reported $28 billion in net new client assets in the third quarter, a 300 % year-over-year increase, and it has realized $65 billion in net new client assets year-to-date. Fidelity Institutional Wealth Services provides trading, custody and brokerage services to registered investment advisers, trusts and third party administrators. The growth in assets over the past couple of years has resulted from the addition of new advisers through a joint offering with SunGard and the continued growth of existing clients, said John Callahan, president, Fidelity Institutional Wealth Services, in a statement. Fidelity and SunGard, a financial software firm based in Wayne, Pa., launched a variety of services available on an integrated trading and custody platform for trust institutions and third party administrators more than a year ago. Since that time, more than 200 firms have joined the platform. Several initiatives were introduced in the past year focused on growing the company. In October, the company launched its Retirement Income Evaluator, a web-based planning tool for advisers. More educational resources were added to the company’s trust platform last year, enhancing Fidelity’s Trustee Services Program. Fidelity Institutional Wealth Services custodies more than $325 billion in assets on behalf of nearly 4,000 clients, as of Sept. 30. Fidelity Investments of Boston of had custodied assets of $3.3 trillion, including managed assets of more than $1.5 trillion as of Sept. 30.

Latest News

Married retirees could be in for an $18,100 Social Security cut by 2032, CRFB says
Married retirees could be in for an $18,100 Social Security cut by 2032, CRFB says

A new analysis finds long-running fiscal woes coupled with impacts from the One Big Beautiful Bill Act stand to erode the major pillar for retirement income planning.

SEC bars New Jersey advisor after $9.9M fraud against Gold Star families
SEC bars New Jersey advisor after $9.9M fraud against Gold Star families

Caz Craffy, whom the Department of Justice hit with a 12-year prison term last year for defrauding grieving military families, has been officially exiled from the securities agency.

Navigating the great wealth transfer: Are advisors ready for both waves?
Navigating the great wealth transfer: Are advisors ready for both waves?

After years or decades spent building deep relationships with clients, experienced advisors' attention and intention must turn toward their spouses, children, and future generations.

UBS Financial loses another investor lawsuit involving Tesla stock
UBS Financial loses another investor lawsuit involving Tesla stock

The customer’s UBS financial advisor allegedly mishandled an options strategy called a collar, according to the client’s attorney.

Trump's one big beautiful bill reshapes charitable giving for donors and advisors
Trump's one big beautiful bill reshapes charitable giving for donors and advisors

An expansion to a 2017 TCJA provision, a permanent increase to the standard deduction, and additional incentives for non-itemizers add new twists to the donate-or-wait decision.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

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.