Throughout the quarter, Fidelity delivered the education and support needed by our customers and clients during a period of increased market volatility. A spirit of innovation propelled new products and experiences, helping us to serve both our current and future customers.
Financial Results
TOTAL DISCRETIONARY ASSETS1
$4.3 trillion
⮝ 9% from Q1 2021
ASSETS UNDER ADMINISTRATION2
$11.3 trillion
⮝ 9% from Q1 2021
Customer, Account, and Business Growth
.
TOTAL RETAIL ACCOUNTS
33.5 million
⮝ 14% from Q1 2021
NEW RETAIL ACCOUNTS
1.5 million
⮟ 54% from Q1 2021
42% of new retail accounts were opened by an investor between 18 and 35
TOTAL DAILY AVERAGE TRADES3
3.1 million
⮟ 12% from Q1 2021
WORKPLACE AND HEALTH CARE GROUP PLAN PARTICIPANT ACCOUNTS
38.8 million
⮝ 7% from Q1 2021
CLEARING AND CUSTODY ACCOUNTS
7.8 million
⮝ 10% from Q1 2021
INVESTOR CENTER APPOINTMENTS WERE UP
7%
over the previous year
Q1 business results as of March 31, 2022.
1Includes all Fidelity investment products, such as mutual funds and managed accounts.
2Fidelity Internal Information as of March 31, 2022.
3Daily Average Trades include Total Fidelity (retail brokerage and institutional brokerage).
“When my grandfather asked my father if he wanted to take over the company, his only question was, ‘Will you take good care of our fund shareholders?’ My father had an innovative spirit, curious mind, and customer obsessed outlook. He was an inspirational leader who cared deeply for the firm, associates, and customers—he created the culture we have today and will continue to foster in the years to come. We have and will always put our customers at the forefront of everything we do.”
- ABBY JOHNSON, CHAIRMAN AND CEO
Driving Innovation
Technology is changing what our customers need and how they expect solutions to be delivered. In Q1, we continued to push Fidelity forward with innovative offerings that are helping us win in the marketplace.
For Individual Investors:
Launched Fidelity Managed FidFoliosSM, an industry leading, fully digital direct index offering available at a low investment minimum of $5,000.
As part of Women's History Month, Fidelity shared new research through the Money Moves Study, including details about how young women are making strides to break down financial boundaries and begin their investment journeys.
Entered the metaverse, hosting a virtual discussion on cryptocurrency, and tapping into expertise across the firm.
To encourage participation in Fidelity’s Youth Account, a new initiative offered a $50 cash reward at account opening.
For Wealth Management Firms and Institutions:
Added four new broad ESG funds, now offering investors and advisors a total of 15 actively managed and sustainable index mutual funds and ETFs.*
Fidelity Tactical Bond Fund expanded the fixed income lineup, extending the Fidelity lineup of fixed income strategies across the risk spectrum.*
Fidelity Institutional (FI) introduced new features on our bond trading platform, Bond BeaconSM, now available to all wealth management firms.
FI upgraded the technology offering for advisors and their clients, with enhancements to the WealthscapeSM user experience.
Fidelity Digital Assets is helping investors understand bitcoin, with new thought leadership that helps to explain why bitcoin is unique.*
SaifrTM launched out of Fidelity Labs, is helping financial institutions with the creation, review, approval, and filing of compliant public communications with regulatory organizations.
For Workplace Clients and Participants:
Workplace Consulting launched the Benefits Equity Scorecard, a tool designed to help employers create a more inclusive benefits program.
Launched Social Security Benefits Calculator on NetBenefits, a self-led digital experience that optimizes a customer's Social Security claiming strategy.
*Available to both advisors and individual investors.
Supporting Associates as they Support our Success
Delivering the best customer experience starts with delivering the best associate experience.
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Fidelity Foundation enhanced the Fidelity Foundation’s Matching Gifts to Education program for associates, making the match 2:1 and matching associate contributions up to $3,000 per associate ($7,000 match) per calendar year. |
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Fidelity hired, welcomed, and onboarded more than 5,100 new associates in Q1.* |
*Global, U.S., and TalentSource external hires as of March 31, 2022.
Meeting the Needs of our Customers
With many factors leading to increased market volatility, our businesses offered support and educational opportunities through thought leadership, webinars, and more.
Cybersecurity
Fidelity’s Information and Cybersecurity teams provided expertise around cyber topics to help clients prepare for resiliency.
Access to Experts
Fidelity experts partnered with Fidelity channels to reach our clients with perspectives and insights on the geopolitical environment and its impact on the markets. This plan included proactively reaching out to our wealth management and institutional clients, as well as providing client-facing resources delivered through webinars, podcasts, videos, newsletters, and client-specific portfolio commentary.
Education
To help customers navigate volatility, Asset Management helped 2.6 million retail customers with podcasts, videos, articles, and special edition newsletters focused on market and portfolio insights, as well as perspectives through webinars that reached over 6,000 institutional and intermediary attendees.
AWARDS AND RECOGNITION4
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Fidelity announced that our actively managed funds won a leading 35 Refinitiv Lipper Fund Awards, which recognize funds and fund management firms that have excelled in providing strong risk-adjusted performance and consistent returns over three-, five-, and 10-year periods. |
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Bloomberg named Adam Benjamin the top stock picker of 2021 for the Fidelity Select Semiconductors Portfolio fund. Adam is the fourth Fidelity portfolio manager to receive this honor in the last seven years. |
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Several WI clients were among finalists for PLANSPONSOR magazine’s “Plan Sponsor of the Year” award, with winners announced in Q2 2022. |
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Ramona Persaud was recently named one of the 27 "Best Female Portfolio Managers to Invest With" by Morningstar. |
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Fidelity led all fund families with 40 funds in Investor's Business Daily special report, Best Mutual Funds 2022. |
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Pam Holding Co-Head of Equity, was named one of Barron’s 100 Most Influential Women in U.S. Finance. |
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Jean Park was spotlighted in Investor's Business Daily special report Best Mutual Funds 2022, for Fidelity Fund (FFIDX). |
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Fidelity was named a top 10 Fund Family in Barron’s annual Best Fund Families ranking and rated #1 over five years. |
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StockBrokers.com rated Fidelity #1 Overall Broker 2022. |
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Investor’s Business Daily rated Fidelity the Best Online Broker Overall and #1 in several other categories. |
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NerdWallet rated Fidelity Best Online Broker for Beginning Investors and Best App for Investing. |
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