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Articles tagged "Fidelity Investments"


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Scott Smith: “The opportunity to engage your current provider in an advisory capacity is the path of least resistance to financial planning.”

The RIA services of Vanguard, Schwab and Fidelity -- for two big reasons -- are cutting into RIA (and wirehouse) market share, Cerulli says

The Big Three, with $30 trillion of AUA, are cross-selling like crazy and have figured out a call center business model that the mass affluent finds appealing.

April 23, 2024 at 2:29 AM

Adam Grealish: As we are near the end of the rate cycle, we need to offer a very attractive rate.

Altruist ups its game with new 5.1%, FDIC-backed cash accounts to lure RIAs, but the digital custodian is still a couple clicks shy of cash management disruption

Near to break even, the young LA custodian will sacrifice some revenue to compete and 'stand out,' but sweep accounts will remain cash cows.

March 28, 2024 at 2:00 AM

Stephanie Cohen (pictured) has left Goldman Sachs after 25-years, following its failed retail banking bid.

Breen Blitz: Mercer seals Vanguard OCIO buy • Goldman[Sachs] & Cohen split • PIMCO joins ETF shift • AdvisorEngine-Schwab bond grows • Ellevest milestone • Lonsdale nets new chief • Fidelity leaks data & staff move • Collation wins RIAs • Justin Wisz returns as investor • LPL nets CMO & Tifin a CEO

OCIO sale to Mercer may be Buckley's last act • Goldman's retail lead departs • PIMCO latest to convert mutual funds • Software firm upgrades Schwab data • Krawcheck preaches wisdom of naps • Fidelity hit by data snafu, but D&I on track • New Lonsdale tech shop imminent • Vestorly founder now funding start-ups • Eight month wait for CMO ends at LPL.

March 21, 2024 at 4:41 AM

Fidelity is 'still hiring talent in critical business areas with nearly 2,000 open roles.'

Fidelity lays off 700 -- not for costs or [bad] performance -- but to shift headcount and hire more client-facing and tech staff, touching off 'panic posting' on job board

The $12.6 trillion Boston investments eyes 2,000 new hires to speak directly to clients or develop more tech products, but lack of clarity jars some staffers

March 12, 2024 at 1:08 AM

Walt Bettinger never mentioned Bitcoin at Schwab's annual update, but may just be keeping his powder dry, analysts say.

Schwab only platforms third-party spot Bitcoin ETFs, mostly Fidelity and BlackRock, but don't be surprised if it 'shocks the world' with deep-cheap ETF, analyst says

The Westlake, Texas $8.5 trillion giant avoids conflicts and marketing costs, but could it go 'big and disruptive' at any time in a fee-sensitive market

January 27, 2024 at 2:59 AM

Fidelity is making sure more cash flows into Boston by default.

Fidelity reveals it switched its RIA sweep default to a much lower-yielding FCash product, on new accounts, during Schwab's very pre-occupied week; new yield still beats Schwab's by about 300%, but advisors are sure to be irked

The No. 2 Boston custodian will jack up the revenue it gets from RIA custody because it can pay their clients much less for cash -- as long as RIAs are too lazy to do cash sorting.

November 4, 2023 at 2:12 AM

Figen Cecili is masterminding Fidelity's weaning of screenscrapers.

Fidelity just dropped the hammer on screen scrapers to cheers, but some firms, like Plaid, are holdouts and the CFPB may wield the final gavel

The near $12-trillion Boston firm is already weaning Yodlee, FIS, Intuit, Fiserv, and Morningstar off their scraping habit by paying their fees to get cleaned-up, but stripped-back data.

October 19, 2023 at 9:32 AM

Mihir Shah: The differentiation will be in combining first-party data with public data.

Fidelity Investments is suddenly fending off a fresh wave of AI suitors for its vast recordkeeping data trove, knowing it's like owning a lithium mine in 2000 -- and not knowing how clients, the SEC and others might see a sale

With 42 million customers and the nation's largest record-keeping business, Fidelity is sitting on oodles of now in-demand client data; so far, it's rejecting every bidder.

July 28, 2023 at 9:38 PM

Ric Edelman: Gensler realizes he's backed himself into a corner.

BlackRock believes that 33 is the charm as it applies to sell a spot Bitcoin ETF, after 32 prior attempts met failure at the SEC -- part of a new gold rush of applications

The $9-trillion asset management giant is betting its Bitcoin application -- the 33rd lodged with the SEC -- will finally clear all hurdles.

June 23, 2023 at 10:38 PM

Fidelity's new 245 Summer Street, Boston headquarters is now the nerve center for a soon to be 72,000 people business.

Fidelity Investments may finally throttle down its 'crazy,' two-year-plus hiring binge in August after it added a 'Schwabitrade' worth of staff and grew to 42 million plan participants -- more than Canada's population!

CEO Abby Johnson acting upon the fire of 'demand' and 401(k) 'leadgen funnel' combined to fuel her Boston firm's 32,000-strong staffing spree, widening its gap over 'Schwabitrade' from 10,000 to more like 37,000 staff.

June 21, 2023 at 1:55 AM

Aaron Schumm: 'We are the only platform in the country that can do what we do.'
June 13, 2023 at 1:55 AM

Ken Fisher's firm is Texas-bound from Camas, Wash., where it already lives.

With 15,000 Fidelity, Schwab and Vanguard staffers there, Dallas metroplex notches Fisher Investments headquarters almost as a formality; Ken Fisher and 1,200 staff are already Lone Star denizens

The $189-billion national RIA of Camas, Wash. evinced being incensed over a Washington state court ruling upholding a state capital gains tax--the final straw behind the move.

April 1, 2023 at 3:42 AM

Larry Fink didn't not get Credit Suisse added to BlackRock's trophy case because, maybe, it didn't try.

Biz Briefs: Vanguard's tax-loss harvest yields a caveat• Vermont green with envy ... of red states? • CFP Board spends $12 million on bungee metaphor • BlackRock isn't neutral on Credit Suisse • Women are the Goliath of 'David' in UK finance

Tax-loss harvest gains may have some home assembly required, says Jeff DeMaso • Adrian Johnstone is now in the driving seat at Practifi • CFP Board spending just topped $150 million • and Vermont shares some Texas thinking on ESG investing.

March 25, 2023 at 1:32 AM

Joe Lonsdale: Opto's marketplace helps RIAs 'preserve and grow client capital.'

Biz Briefs: Fidelity says humans beat robots, even for Gen Z • Joe Lonsdale's Opto starts signing RIA test-drivers • Vanguard launches oddly delayed fund • Wealthbox hires, and Dynasty buys

Fidelity wins Delta Airlines business with sweetener • Opto pairs-up with Riskalyze and Merchant • Moonfare raises $15 million • CAIS bucks real estate trend • Vanguard launches "curious[ly]" delayed fund • WealthBox, Dynasty, and others buy and hire.

March 8, 2023 at 3:28 AM

Fidelity is seeking to chill would-be brand pirates seeking to capitalize on the foggy rules of metaverse commerce.

Fidelity files for vast trademark protection as it readies Fidelity 3.0 for the Wild West metaverse -- whatever and wherever it may be

The Boston giant wants to sell in the three-dimensional world, but it wants the U.S. government to confirm its can still win in a real court on brand infringement if all that green pops into 3-D.

February 16, 2023 at 4:14 AM


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