Throughout Q2, we met the evolving needs of our customers and associates by providing exceptional support and expanding our innovative products, offerings, and experiences.
Customer, Account, and Business Growth
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TOTAL DISCRETIONARY ASSETS1
$3.7 trillion
⮟ 11% from Q2 2021
ASSETS UNDER ADMINISTRATION2
$9.9 trillion
⮟ 10% from Q2 2021
TOTAL RETAIL ACCOUNTS
34.4 million
⮝ 13% from Q2 2021
NEW RETAIL ACCOUNTS
1.3 million
⮟ 20% from Q2 2021
41% of new retail accounts were opened by
investors between 18 and 35 years old.
CLEARING AND CUSTODY ACCOUNTS
8.0 million
⮝ 10% from Q2 2021
WORKPLACE PLAN PARTICIPANT ACCOUNTS
39.6 million
⮝ 8% from Q2 2021
TOTAL DAILY AVERAGE TRADES3
2.8 million
⮝ 8% from Q2 2021
INVESTOR CENTER APPOINTMENTS WERE UP
17%
over the previous year.
Q2 business results as of June 30, 2022.
1Includes all Fidelity investment products, such as mutual funds and managed accounts.
2Fidelity Internal Information as of June 30, 2022.
3Daily Average Trades include Total Fidelity (retail brokerage and institutional brokerage).
“Clients have let us know that they appreciate the opportunity to talk with a Fidelity representative. Throughout the pandemic and the ongoing market challenges, we have been hiring thousands of new customer-facing and technology associates to help us meet this demand. In uncertain and volatile economic environments, we know there is a need for in-depth financial planning conversations, which is why the human element remains critical. Despite the market decline and ongoing economic uncertainty, we continued to invest in people and technology because our commitment to delivering superior customer service is not going away and something that we believe differentiates us.”
- ABBY JOHNSON, CHAIRMAN AND CEO
Modernizing our technology and growing our core
Our commitment to innovation has helped us grow during periods of market volatility, industry disruption, regulatory changes, and shifting customer preferences.
Digital Enhancements and Education
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Fidelity’s scan, try, scale approach
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Metaverse milestone: The Fidelity Stack
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Educated clients on crypto
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Introduced Catchlight from Fidelity Labs
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Launched Retirement Strategies Tax Estimator, help customers understand how specific tax strategies like Roth conversions might impact their current year tax bill. |
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Introduced Portfolio Quick Check
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New Products and Services
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Introduced Fidelity Managed FidFoliosSM and Fidelity Solo FidFoliosSM
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Announced digital asset solution for 401(k) plans
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Launched Fidelity BloomSM
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Expanded sustainable investment products lineup with the launch of Fidelity Healthy Future Fund. |
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New ETFs offer access to crypto and metaverse industries, part of the company’s expanding thematic fund lineup. |
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Expanded model portfolio suite for advisors
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Creating a more inclusive customer experience
We are dedicated to helping people live better lives by making financial expertise broadly accessible and effective.
Shared our latest Diversity and Inclusion (D&I) Report in April, outlining the deliberate steps we are taking to strengthen our commitment to diversity and inclusion and sharing more information about how Fidelity is impacting the associate and customer experience in the communities we serve.
April was National Financial Literacy Month, a designated time for greater financial understanding for all. At Fidelity, we value supporting the financial health of communities by creating access and opportunities that encourage saving for the future, investing, and building generational wealth.
Celebrating our associates and community
What allows our business to thrive is our ability to attract, retain and grow a diverse associate base who are stepping up every day.
Fidelity is bringing in new talent at an accelerated pace, with a goal of hiring 12,000 new associates by the end of the third quarter.
Hired and onboarded more than 5,800 new hires in Q2*.
Welcomed more than 1,000 interns, representing nearly 300 colleges and universities, with 134 different majors, and working across 34 business units in 12 regions.
In June, we launched the next phase of re-entry with the start of Dynamic Working, providing associates with the best hybrid working experience. Since we began our re-entry programs, more than 33,000 associates have returned onsite.
May was also Mental Health Awareness Month. Bringing awareness to this topic is an important step in reducing stigma and arming our associates with the tools and resources they need to maintain their emotional well-being.
In April, we announced Juneteenth National Independence Day as a paid company holiday at all Fidelity U.S. locations. Associates across the enterprise observed Juneteenth in its first year as a Fidelity holiday on June 20, 2022.
*Fidelity has hired a total of 11,000 Global, U.S., and TalentSource external hires as of June 30, 2022.
AWARDS AND RECOGNITION*
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Fidelity recognized as a Top Workplace: Albuquerque Journal and Cincinnati Enquirer. |
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Three WI corporate DC clients named PLANSPONSOR magazine’s Plan Sponsor of the Year: Delta Air Lines, Forward Bank, and True Value Company, LLC. |
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Mona Vernon, Head of Fidelity Labs, recognized by TABB Group as a Top 40 Innovator in the financial markets. |
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Brooke Forbes, Head of Technology, Personal Investing, named the Boston ORBIE CIO of the Year. |
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Tom Jessop, Head of Fidelity Digital Assets, named one of The Boston Globe’s Tech Power Players 50. |
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