In Q3, Fidelity continued to meet the evolving needs of customers and associates by introducing new products and services for current customers, as well as the next generation of investors.
CUSTOMER, ACCOUNT, AND BUSINESS GROWTH
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TOTAL DISCRETIONARY ASSETS1
$3.6 trillion
⮟ 15% from Q3 2021
ASSETS UNDER ADMINISTRATION2
$9.6 trillion
⮟ 14% from Q3 2021
TOTAL RETAIL ACCOUNTS
35.6 million
⮝ 11% from Q3 2021
NEW RETAIL ACCOUNTS
1.2 million
⮟ 9% from Q3 2021
45% of new retail accounts were opened by investors between 18 and 35 years old.
TOTAL DAILY AVERAGE TRADES3
3.1 million
⮝ 26% from Q3 2021
WORKPLACE PLAN PARTICIPANT ACCOUNTS
40.7 million
⮝ 9% from Q3 2021
CLEARING AND CUSTODY ACCOUNTS
8.1 million
⮝ 8% from Q3 2021
APPOINTMENTS UP
33%
over the previous year for Investor Centers and Regional Centers5.
Q3 business results as of September 30, 2022.
1Includes all Fidelity investment products, such as mutual funds and managed accounts.
2Fidelity Internal Information as of September 30, 2022.
3Retail accounts increased slightly due to a logic change. Previous quarters are restated here for reference. (Q3 2021: 32.0 million, Q4 2021: 33.5 million, Q1 2022: 34.6 million, Q2 2022: 35.5 million).
4Daily Average Trades include retail brokerage and institutional brokerage.
5Investor Center and Regional appointments include all roles taking client appointments.
“Customers of all ages and from all life stages are demanding best-in-class digital experiences and personalized, in-depth planning services. To meet these evolving customer needs, we are expanding Fidelity’s digital tools and launching new investment products and services.”
- ABIGAIL P. JOHNSON, CHAIRMAN AND CEO
ENHANCING OUR DIGITAL EXPERIENCE AND ENGAGING NEW CUSTOMERS
We are creating products, services, and education that help customers plan for and meet their financial goals.
Digital Enhancements and Education
Continued to educate institutions and associates on digital assets
Fidelity Digital Assets’ research team released six new pieces of thought leadership, featuring original research and insights about bitcoin, ethereum, and the digital assets ecosystem.
Fidelity Digital Assets expanded trading and client service hours
Institutional clients on Fidelity Digital Assets' custody and trading platform are now able to trade assets 20/7 and access client service support 24/7.
Thought leadership explaining the value of benefits
Compensation alone isn’t enough to keep employees engaged. Employers are reimagining their workplace culture and benefits programs to best support their employees’ unique needs.
Launched a Fidelity server on Discord
Having a presence on this prominent social media platform allows us to meet customers where they are and provide a new channel for service and educational content.
Launched season 3 of “Fresh Invest”
Our popular investing podcast, produced in concert with Morning Brew, dives into everything from thematic investing and crypto to finding financial confidence.
FI announced a new integration with Salesforce
This integration is designed to save time and deliver a more streamlined and connected platform experience.
New and Products and Services
Developed loan forgiveness resources for public sector employees
Fidelity teamed up with Summer, a company serving student loan borrowers across the country, to provide software and expert support to millions of doctors, teachers, and physicians to apply for student debt loan forgiveness.
Launched Guaranteed Income Estimator in NetBenefits
To help workplace retirement plan participants quickly determine what income solutions are available to them and how much a lump sum investment may generate in guaranteed income.
Expanded liquid alts lineup
Announced the expansion of its alternative investment product lineup with the launches of Fidelity Macro Opportunities Fund, Fidelity Risk Parity Fund, and Fidelity Hedged Equity Fund.
Launched fractional certificate of deposit offering
Clients can purchase a fraction of a CD for as little as $100. Fidelity is the first in the industry to break the $1,000 minimum barrier for CDs.
Customer Growth and Engagement
Introduced Bright Ideas
A new video series, in partnership with Insider and social media influencer Rod Thill, that strives to provide next gen investors with relatable approaches to understanding financial situations.
Collaborated with the WNBA’s Connecticut Sun
Fidelity’s year-long relationship provides financial education and access to this talented generation of women.
Youth Account nominated as one of the Best Financial Apps and Services in Real Simple’s Smart Money Awards ***
The Fidelity Youth Account is a brokerage account managed by parents and their kids to help teens learn to save, spend, and invest.
Worked with Starbucks to roll out “My Starbucks Savings” ***
This new, short-term savings benefit will allow employees to contribute a portion of after-tax pay via payroll deduction to their personal savings leveraging Fidelity’s Goal Booster.
Continued to support Financial Education for the next generation
As young individuals are just beginning to take charge of their own finances, Fidelity is offering education opportunities that are relevant and accessible.
Published the 13th edition of the Plan Sponsor Attitudes Study
Plan sponsor engagement is set to heighten, while competition and increasing expectations for plan advisors rise.
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Expanding Dynamic Working and growing our diverse associate base
Fidelity is committed to creating an inclusive company culture both virtually and in the office.
Launched the next phase of Dynamic Working,expanding collaborative onsite experiences to most U.S. associates. To support associates as they return to the office, we improved the Onsite Hub Mobile App and bolstered onsite support from Real Estate and Hospitality, Security, Associate Experience and Technology teams.
Hired and onboardedmore than 5,400 new hires, * and more than 8,000 associates experienced internal job mobility in Q3.**
Supported Fidelity associates who were impacted by Hurricane Ian with additional resources including emergency funds, disaster relief loans, emergency shelter and additional paid time off.
*Fidelity has hired a total of 16,000 Global, U.S., and TalentSource external hires year-to-date as of September 30, 2022.
**Nearly 26,000 Global and U.S. associates have experienced internal job mobility as of September 30, 2022. Mobility can be req or non-req, including lateral, reduction and promotion events.
AWARDS AND RECOGNITION***
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In September, Fidelity’s Health Savings Account offerings were rated #1 in the industry by Morningstar for the fourth consecutive year. |
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Fidelity Institutional won a Wealthie Award for its work on enhanced technology offerings. |
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Kiplinger ranked Fidelity #2 for Best Online Brokers and Trading Platforms. |
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Fidelity recognized by Financial Advisor’s Gold Star Award as the top cybersecurity and privacy record keeper for the third year in a row. |
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Investor’s Business Daily/MarketWatch reader-sourced survey ranked Fidelity the most trusted for wealth managers and 4th overall for ETF/fund managers. |
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Investopedia ranked Fidelity #1 “Best Overall”, as well as Best Broker for Low Costs. |
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Julia Pei recognized as one of Insider’s “Rising Stars of Wall Street.” |
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FidelityGo finished #3 out of 33 providers in Barron’s annual robo advisor rankings (up from #5 last year). |
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Fidelity Investments was named the Best Investment Company in Europe. |
*** You are leaving Fidelity.com for another website. The site owner is not affiliated with Fidelity and is solely responsible for the information and services it provides. Fidelity disclaims any liability arising from your use of such information or services. Review the new site’s terms, conditions, and privacy policy, as they will be different from those of Fidelity’s sites.
