Articles tagged "Fidelity Investments"
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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
May 14, 2021 at 11:25 PM
Fidelity and Schwab oddly take opposite sides on issue critical to money market funds as an SEC, alarmed by systemic risks, puts NAVs under spotlight
The Boston and Westlake, Tex., providers disagree about whether the once sacred $1 net asset value should now float accross prime money market funds -- and potentially municipal money market funds.
May 10, 2021 at 5:28 PM
Fidelity Investments is set to make 4,000 new hires at the same time senior staff may accept buyouts, an arbitrage to match talent with digital needs
The Boston giant is now advertising approximately 2,500 'client-facing' roles, in addition to the 5,150 it filled last year. It will also bump its technology headcount by 10% and hire 1,000 new financial planners.
April 20, 2021 at 9:06 PM
Envestnet, Orion and Schwab will all launch crypto capabilities soon enough, insiders say, but Damon Deru just beat them all to market with more than a hack
AdvisorPeak launched a virtual means for RIAs to trade, rebalance and custody cryptocurrencies with Prime Trust; Fidelity will soon add Ethereum
April 15, 2021 at 6:04 PM
Brooke's Bits: Charles Goldman's SPAC has a 'unicorn' pitch• Why Fidelity's bitcoin ETF application might have a shot • Investment bank to RIAs makes amends with staff who cranked out deals in overwrought 2020
The ex-AssetMark CEO says his new gig is anchored by a well-oiled team • Fidelity has crypto heft and bitcoin's history moved a decade in a year • Moelis pays $10,000, in installments
