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Abby Johnson wins RIA respect by articulating her bold vision for Fidelity's future at the company's Executive Forum

Hillary Clinton gave a great speech in Naples but the chairman's daughter gave a glimpse of her determination to attack channel insularity -- and what kind of a successor she might be

Authors Brooke Southall and Lisa Shidler and Brooke Southall May 23, 2013 at 2:12 AM
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Mike Durbin (with Sanjiv Mirchandani) says that Abby Johnson signaled her intention to meld the efforts of Fidelity's various business units.

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Fidelity Investments loses Kathleen Murphy who largely caught up Fido to Schwab (near $4T) on the retail side by reversing net promoter scores

The 'no whining allowed' leader of the Boston giant's retail business, who oversaw $2 trillion in net new assets, was ready to exit but hung in through a year dominated by COVID-19 challenges

January 23, 2021 at 2:02 AM

Fidelity Institutional looks like a big TAMP after Mike Durbin removes last internal walls between products and advisors after 'meteoric' 2019 leap; two Fido RIA sales legends depart amid the shift

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March 13, 2020 at 10:36 PM

Cetera hiring Mike Durbin as CEO -- overseeing its existing 'CEO' -- completes Genstar's stellar HR week after it put Charles Goldman atop Orion's board -- with 'exponential' growth in mind for the 'middle market' companies

The Los Angeles broker-dealer nabbed the Fidelity legend to take its $118-billion AUM and 8,000 advisors higher, just as Orion -- also majority owned by Genstar -- makes a similar move.

May 18, 2023 at 1:46 AM

Biz Briefs: The sorry scene at my local First Republic branch • Schwab launches new (smaller) lay-off round • Schwab hoovers pennies passing FINRA fee to clients • Gensler pleas for funds • Fidelity owner's private equity pres. retires • an Orion-Envestnet staff switcheroo • LPL dumps FutureAdvisor

Range Rovers screeched in and drivers joined a grim queue to get their cash, and cookie • The Schwab-TDA deal cull count now stands at roughly 3.5% of its staff • FMR's hockey star president has stepped down • SEC chief wants more enforcers • An Envestnet executive proves joining a rival is good business • LPL now has an in-house robot.

April 29, 2023 at 1:36 AM

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Mentioned in this article:

Parallel Advisors
Consolidator/Roll-up Firm
Top Executive: CJ Rendic

Elmer Rich III

Elmer Rich III

May 23, 2013 — 8:58 PM

Aren’t advisors competition for Fidelity’s direct business, 401k business and theri proprietary fund business asset gathering?

Doug Dannemiller

Doug Dannemiller

June 18, 2013 — 1:19 PM

It looks like Fidelity has taken the monumental steps to achieve Abby Johnson’s vision. The announced launch of a “Z” share class (low expenses) and the reorganization of defined contribution sales and support show Fidelity’s experience and expertise in managing multi-channel distribution. Bravo.

Also, Bravo to advisers. These moves would not have happened if advisers had not demonstrated strong results in the sale and formulation of defined contribution plans.



June 25, 2014 — 9:07 PM

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June 25, 2014 — 10:39 PM

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