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Articles tagged "Fidelity Investments"


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Bernie Clark: [The final integration] won't be without incident, unfortunately.

RIA recap: Bernie Clark promises to 'be there' for coming TDA-Schwab system snafus; Fidelity gets custody win; Vanguard dishes out big tax bill to investors

Schwab RIA chief petitions for 'patience' for coming merger inconveniences but 'repapering' is no culprit; Carrie Pomerantz gets Schwab board seat; Addepar wins $65 billion AUM contract.

November 3, 2022 at 1:59 AM

Chip Roame: Difficulty in assimilating if, it ever comes, would be the reason to slow down hiring.

Fidelity Investments' plan to hire 12,000 by October hit wall of macro-headwinds; no problem, it landed at 15,000; Schwab keeps hiring, too

The Boston giant's people grab could be derailed by indigestion -- the inability to assimilate staff -- an analyst says; but it has yet to materialize so the hiring spree rolls on.

October 29, 2022 at 12:02 AM

Louis Harvey:  You could say the DOL is at the root of the problem.

Fidelity Investments reveals 'all-time high' 401(k) plan sponsor discontent, thanks to DOL monkey wrench that creates 'race to bottom,' key expert adds

Some 47% of plan sponsors are considering a new advisor, up from 34% last year, and 48% are considering a change of recordkeepers.

September 13, 2022 at 1:51 AM

Stuart Silverman: 'We've got a great relationship with Fidelity... I wouldn't say anything is malicious or intentional.'

The 48-hour mystery of David Canter's Fidelity departure gets solved when RIA custody client steps forward with claim to his future but the headhunter lost his job to the headhunted

Now we know that Bluespring sprang Canter from the Boston giant and that the rollup's co-founder, Stuart Silverman, was the protagonist in the high stakes hire, and the guy who needs to make room for Canter as day-to-day chief.

July 15, 2022 at 2:05 AM

Abby Johnson: 'We are not pulling back.'

Fidelity--late to its own Ethereum party--hires 110 engineers to hurry up launch; it may have avoided both had it not made a 'strange strategic decision,' analyst says

The Boston company pledged to add the second digital token to its crypto custody service by year-end 2021, but 'complexity' stalled the project, even though a third-party solution was available.

June 30, 2022 at 8:40 PM

Stephen Greco is taking on the RIA superpowers using mafia law to attempt to level the playing field.

Stephen Greco's six-year quest to prove Creative Planning, Schwab, Fidelity and TD Ameritrade engaged in a 'conspiracy' against his RIA has even the experts baffled

In his latest move, the Spotlight Asset Group founder files a 'RICO' civil suit in federal court that one defendant calls 'ludicrous.'

June 7, 2022 at 4:27 AM

Chip Roame: Wow, that is a crazy lot of people!

Fidelity's strategy to own the financial advice business by owning 'a crazy lot of people' is heading for 28,000 hires in two years

Hiring 16,600 people last year just whetted the $11-trillion Boston company's appetite to make 12,000 more hires in a play to be a category killer in finance.

May 12, 2022 at 3:14 AM

David Gray: There is growing interest from plan sponsors for vehicles that enable them to provide their employees access to digital assets in defined contribution plans.

Fidelity shrewdly side-steps DOL 's 401(k) crypto guidance--and ERISA -- to pioneer profit center by adding Bitcoin to plan menus, knowing plan sponsors are game to shoulder the liability if need be

The $12-trillion Boston firm shocked everyone with the timing of the 'seminal' move, the Labor Dept.'s tut-tutting 'guidance' not withstanding, after concluding Bitcoin's volatile days are behind it.

April 29, 2022 at 2:08 AM

Ned Johnson could be counted on to have a contrarian view on  everything.

Ned Johnson, who built Fidelity Investments into a family financial services empire and inspired countless others in the industry with his energy and integrity, has died at 91

Edward 'Ned' Johnson III put aside his Brahmin pedigree in favor of a low-key, personable style but he also had a keen 'contrarian' instinct to step up aggression in downturns, which helps explain Fidelity's recent dazzling hiring spree

March 26, 2022 at 2:05 AM

Lisa Salvi: Firms can ensure they have a compelling compensation strategy.

Oisin's Bits: RIAs are slow to raise wages to reflect revenue and inflation • Robertson Stephens doubles AUM, making three a charm • SEC finally explains Bitcoin ETF application failures • Tenev, Bhatt get billion dollar haircuts in Robinhood stock slump

Schwab report shows RIAs hire at bargain rates but maybe not for long • 'Robertson Stephens' third go-round, second as RIA, gains steam • SEC reveals spot BTC concern--fraud • Robinhood founders lose $3.4 billion, $3.9 billion in stock slump

February 4, 2022 at 8:21 PM

Larry Fink: It's just a number.

Five RIA Doubletakes: BlackRock AUM tops $10 trillion as active funds make comeback • Schwab has killer quarter and Wall Street sells its shares • DFA is now the largest active ETF manager • SEC flummoxes RIAs with "inaccurate" guidance • Fidelity pulls in $146 billion in workplace assets

After record AUM high, BlackRock chairman and CEO Larry Fink brushes off a milestone • SchwabSchwab hits records; Wall Street wants more • Mutual fund giant's ETF conversion yields bragging rights • Regulation Best Interest headaches unnecessary, despite SEC brouhaha, lawyers say • Workplace scheme wins big for Fidelity.

January 21, 2022 at 3:16 AM

Kirsten Kuykendoll: We expect that Fidelity will continue to hire thousands of people throughout 2022.

With no-holds-barred perks, Fidelity Investments hit bullseye on its 'monstrous,' single-quarter, 9,000-employee hiring spree and keeps recruiting on overdrive

The $11-trillion-plus giant will also likely achieve its overarching task to net 7,000 employees but growth means the hiring machine needs to keep churning.

January 11, 2022 at 2:04 AM

Fidelity Canada operates largely from this building in Toronto.

Fidelity gets its crypto ETF --albeit Made in Canada -- giving RIAs a way to buy 'physical' Bitcoin

After Fidelity was rebuffed by the U.S. Securities and Exchange Commission, Fidelity Canada had more luck by turning to its own securities cop with a more abiding outlook on crypto currency as an investible asset

December 4, 2021 at 4:12 AM

Tim Buckley: Vanguard will continue to innovate for clients.

After Fidelity and BlackRock target date funds attract bigger inflows, Vanguard promises to move a minor mountain next February to make its TDF prices more competitive

The Malvern, Pa., giant maintains a towering lead in managing 401(k) assets in TDFs, but it'll take a merger and not a flick of the pen to post prices that could keep it near 37% market share.

October 12, 2021 at 2:01 AM

Matt Goulet: Why would we not want to do this?

Fidelity gives RIAs real-time fractional trading despite little evident demand, while rival Schwab demurs, yet just filed to launch $100k-minimum direct indexing in 2022

Like with digital assets, the Boston giant is dangling the nascent service with faith that RIAs will seize the opportunity but its Westlake, Texas, rival wants to see better evidence of demand before prioritizing such a big push on its institutional platform.

October 6, 2021 at 9:34 PM

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