Articles tagged "Fidelity Investments"
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New Vanguard CEO sends mixed signals in NYC media tour • Arch assets counted soar after $20 million RIA-intensive raise • Fidelity 401(k) business now home to half-a-million millionaires • Grayscale repeats fee-fumble, losing $1.8 billion of Ether in a week • Fixed-income start-up nabs BlackRock vet
Salim Ramji is high on alts, low on IPO and is piloting AI for service • Arch now serves 270 clients, up from 200 in January • Nearly 2% of Fidelity's 401(k) clients have $1 million or more • Dave Antonelli leaves BlackRock for start-up after 21 years • Grayscale's Ethereum 'mini-trust' inflows of $130 billion fall far short of main-trust outflows nearing $1.8 billion
August 10, 2024 at 1:41 AM
Fidelity Investments picks Advyzon to tackle small RIAs, with shades of beloved Orion-TD Ameritrade package, but is Fido's small really 'small'?
The deal with the Chicago up-and-comer all came together in 2024 as part of Fidelity's quiet hire of ex-Vanguard talent to head emerging RIA unit.
August 9, 2024 at 3:50 AM
The minor 20-year Fidelity and Envestnet collaboration just got major as FMAX begins to take off and the two companies seek to press the advantage
The Boston clearing and custody giant has been using the Berwyn, Pa., TAMP/SMA giant for managed accounts, but now Fidelity is making Envestnet a big software partner to make its own TAMP a 'category killer.'
July 11, 2024 at 12:09 AM
Focus triggers Moody's by fighting debt with debt • Fidelity's new ETF fees work magic • Schwab opens Milwaukee 'flagship' • RIAs may lose billions to 'widowgedden,' says Krawcheck
Focus leverage ratio rose again; Moody's dings • Fidelity shores-up ETF marketplace revenues • Schwab backs brick-and-mortar • Krawcheck claim puts $53 trillion in question
June 5, 2024 at 2:21 AM
Fidelity, Voya and BoA smooth BlackRock's launch of guaranteed-paycheck ETFs but 401(k) plan participants may yet balk at high, unseeable fees and intangibility of benefits
Big recordkeepers greenlit Wall Street asset manager's novel 'Paychecks' product, with BlackRock expressing ambitions to also expand the product to non-retirement accounts
May 11, 2024 at 3:31 AM
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
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
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 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
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 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
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
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
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 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.
