Fidelity announces high-level job shifts

Fidelity Investments’ vice chairman and chief operating officer, Robert Reynolds, announced his retirement today and Ellyn McColgan was named president of distribution and operations.
APR 19, 2007
Fidelity Investments’ vice chairman and chief operating officer, Robert Reynolds, announced his retirement today Ellyn McColgan was named president of distribution and operations. Fidelity chairman Edward C. Johnson III said Mr. Reynolds has made “tremendous” contributions to Fidelity during his “extensive” career at the firm. “Through the 1980s and 90s, he led the growth of our 401(k) business to the market leadership position it enjoys today,” Mr. Johnson said in a statement. “Bob then guided the expansion of that business through various outsourcing and payroll initiatives and, for the past several years, has provided the broader firm with dynamic leadership.” Fidelity also announced a realignment of the firm’s distribution, operations and administrative functions. As president of distribution and operations, Ms. McColgan will oversee distribution of the company’s products and services directly sold to individual investors and through third-party intermediaries -- as well as a group of the firm’s other operations. Ms. McColgan has served as president of Fidelity Brokerage Company since 2002. In her new role, she will continue to oversee that business, and her position at Fidelity She will share the distribution leadership with Abigail P. Johnson, who will continue in her role as president of Fidelity Employer Services Co.

Latest News

Retirement dream looking more like a luxury as cost-of-living squeezes savings
Retirement dream looking more like a luxury as cost-of-living squeezes savings

New research reveals rising expenses, forced early exits, and a widening gap between how long people live and how long their money lasts.

Advisor moves: LPL, Raymond James, Brighton Jones raid the talent pool
Advisor moves: LPL, Raymond James, Brighton Jones raid the talent pool

Firms continue their quest to attract and retain the best advisor teams.

Most advisors say AI portfolio construction is worth $500 a month
Most advisors say AI portfolio construction is worth $500 a month

A survey from TacticalMind AI found 69% of advisors say a high-quality AI platform that makes investment recommendations and constructs portfolios is worth $500 monthly, while research-only tools are valued closer to $250.

CAIS embeds Claude AI into advisor workflows for alternatives intelligence
CAIS embeds Claude AI into advisor workflows for alternatives intelligence

The alts tech provider's latest integration lets advisors query fund data and surface portfolio insights without leaving their primary workspace.

FINRA puts structured product supervision under the microscope
FINRA puts structured product supervision under the microscope

The regulator is scrutinizing how some firms oversee concentrated positions in complex "worst-of" notes – and wants answers.

SPONSORED Beyond wealth management: Why the future of advice is becoming more human

As technical expertise becomes increasingly commoditized, advisors who can integrate strategy, relationships, and specialized expertise into a cohesive client experience will define the next era of wealth management

SPONSORED Durability over scale: What actually defines a great advisory firm

Growth may get the headlines, but in my experience, longevity is earned through structure, culture, and discipline