At Think Advisor, Dinah Wisenberg Brin reports on Fidelity’s ability to attract new customers. Fidelity CEO Abigail Johnson explains, “The economics of the financial industry continue to reward efficiency and demand faster speed to market.” Wisenberg Brin writes:
Fidelity Investments posted significant growth in assets, trading and client planning sessions for the third quarter.
Assets under administration reached $15 trillion for the period ended Sept. 30, growing 30% from $11.5 trillion a year earlier, the financial services giant announced recently.
Discretionary assets, which include all Fidelity investment products like mutual funds and managed accounts, grew by 31% to $5.8 trillion from $4.4 trillion a year earlier, according to Fidelity.
Daily average trades in the third quarter rose 35% year over year to 3.5 million.
“The economics of the financial industry continue to reward efficiency and demand faster speed to market,” Fidelity Chairman and CEO Abigail Johnson said in a statement.
“We view these challenges as energizing opportunities to harness the scale of Fidelity’s business to offer a broad range of digital tools, education, product choices and personalized experiences,” she said.
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