Articles tagged "Fidelity Investments"
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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
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
Grayscale shreds the hype about Bitcoin's power to 'democratize' finance by showing that RIAs really want a dominant Wall Street middleman and are willing to pay hedge-fund-like fees for 'transparency' and an SEC-approved wrapper
The New York City manager landed Schwab, Wealthfront and now the UHNW alts platform, iCapital, to provide a crypto asset that incites exuberant hopes, crippling fears and little between.
September 28, 2021 at 9:50 PM
Vanguard Group becomes second domino to fall in 401(k) recordkeeper detente on plan portability, and the push is on to cajole Fidelity, the DC king, to follow suit
The $8 trillion Malvern, Pa., asset manager signed a deal with Retirement Clearinghouse to address its $1.8 billion of record-kept plan assets, which suffer universally despised pension 'leakage' that drains minority-held accounts.
September 24, 2021 at 1:21 AM
Abby Johnson hires Canadian whiz and possible successor to head up, monetize and automate Fidelity retail to close early digital deficits with Schwab, Robinhood and Vanguard-- and maybe win institutionally embedded 401(k) millionaires
With the $11.2 -trillion Boston giant hiring 9,000 by year end after opening 5 million new retail accounts in six months, Joanna Rotenberg will be asked to rationalize, unify, digitize and monetize low- or no-revenue millennial accounts.
September 21, 2021 at 2:38 AM
Fidelity Investments pulls out stops on perks to raise headcount by 7,000 -- by hiring 9,000 -- to shrug off labor shortages, escalating wages and call center attrition
The 53,000-employee Boston firm is offering Google-type benefits and Merrill Lynch-style training--no financial experience necessary-- to reach 60,000 staffers by Christmas to meet crushing demand for service and still advance mega-projects like crypto and youth accounts
September 4, 2021 at 12:57 AM
Charles Schwab & Co. jacks up mutual fund commissions 50% to $74.95 on retail investors to counter freeloading by Vanguard, Fidelity and Dodge & Cox funds -- but RIAs dodge the crossfire
The $7.6-trillion, Westlake, Texas, firm is also taking TD Ameritrade sell commissions to zero on mutual funds to harmonize with its own price schedule.
August 31, 2021 at 10:30 PM
Envestnet just surpassed $5 trillion in assets and 108,000 advisors on its platform but profits were flatter as rising tide of inflows floats financial services boats
The Chicago-based amalgam of investments and software keeps growing the top line but reaping rewards from its semi-captive audience is still a work in progress
August 18, 2021 at 2:02 AM
Fidelity Investments' new model portfolio launch includes one with a 100/0 mix of stocks and bonds -- the most appealing of the bunch to RIAs
The $10.8 trillion firm in Boston launched its first models in 2018 and with 7,000 advisors using them it has adjusted allocations to reflect preferences it couldn't have foreseen
August 6, 2021 at 4:33 AM
Empower climbs to $1.4 trillion on fifth acquisition--Prudential's record-keeping business-- but Fidelity hit the $1.4-trillion mark in 2014 and is pulling away on organic growth alone
Empower's $3.4 billion deal ups total assets to $1.4 trillion, a distant second to Fidelity's $3.2 trillion in administered assets.
July 24, 2021 at 3:09 AM
Fidelity Investments is paying 2,000 employees to hasten their corporate exits, including high-profile RIA overseer, Sanjiv Mirchandani, as part of its shift to a digital future
The Boston giant offered voluntary buyout packages and the 4% of staff who accepted will leave by June 30 to give other staff room to grow careers and make room for hires.
June 24, 2021 at 5:39 PM
With up to 25% of assets exposed, Schwab, Fidelity and Vanguard add algorithms to spot decreased mental capacity among aging clients, but RIAs are sitting ducks, a new report states
The leading edge of the boomer generation is now 75, near the average for Alzheimer's onset, and up to 25% will suffer diminished capacity, making them vulnerable to poor decision-making or exploitation
June 12, 2021 at 12:25 AM
Fidelity Investments unveils 'Sherlock' -- a dashboard that gives advisors data on 80 digital assets that can be used to justify buying and selling crypto
The Boston giant is plowing ahead with its controversial endeavor even as Bitcoin plummets in value and data analytics firms like Morningstar, BlackRock (Aladdin) and Bloomberg hang back.
June 9, 2021 at 2:34 AM
Fidelity claims the sub-Robinhood segment for itself (among majors) by offering 13- to 17-year-old investors a parent-lite, zero-fee trading app to go with a neobank
The Boston giant -- after the success of Step and others -- is going after this largely virgin market with a hard-knocks philosophy of teaching and a seamless transition to a regular brokerage account when the teen turns 18
May 25, 2021 at 1:25 AM
Fidelity Investments flies past staggering $10T milestone, but Schwab, finally fully loaded with Q1 results from TDA merger, steals some of the Boston giant's thunder
The Boston and Westlake, Tex., companies are both on fire -- even showing surprising strength in the 'Robinhood' sector -- but Schwab's rollup of TD Ameritrade and USAA radically reduced a yawning gap
