Fidelity Investments® Reports 78 Percent Client Growth in Workplace Managed Account Business in 2013

Nearly 800 new clients, representing 740,000 new eligible workers

BOSTON – Fidelity Investments® today reported that Fidelity Portfolio Advisory Service at Work (PAS-W) – the company’s proprietary managed account offering for workplace retirement accounts – experienced significant growth in 2013, underscoring the growing demand for professional investment services among workplace savings accounts, such as 401(k) plans.

Fidelity added 784 new plan sponsors in 2013, which adds an additional 740,000 eligible workers to Fidelity’s PAS-W platform. These new plan sponsors represent a 78 percentage increase from new sales reported in 2012, and bring total eligible assets to $180 billion for all PAS-W clients, a 65 percent increase over 2012.

Fidelity also reported enrolled participants in PAS-W grew by 51 percent in 2013 to 94,500, and assets under management grew by 54 percent to $7.3 billion. New clients represent organizations of various sizes across a wide variety of industries, including technology, manufacturing, telecommunications, higher education, health care and others.

“For many American workers, their retirements savings is going to be the biggest investment in their life – more than they’ll invest in a house, a college education for their children, or any other investment,” said Sangeeta Moorjani, senior vice president of Fidelity’s Professional Services Group. “As a result, an increasing number of workers are turning to Fidelity PAS-W to help them tailor a retirement plan that meets their specific investment needs as well as adjusts to their level of risk and changing financial circumstances.”

Managed accounts provide average workers professional financial help with their savings
Many American workers realize the importance of saving for retirement, and they understand it’s their responsibility, but they may lack the confidence to manage their own savings. Recent Fidelity research1 found that 77 percent of respondents admitted they did not have the skill, will or time to manage their own investments. And among Fidelity participants who did take an active role in managing their savings, another study2 showed that more than half (53 percent) did not have the appropriate asset allocation for their age group – 33 percent held more than 90 percent equities in their 401(k), while 12 percent held less than 10 percent in equities. And nearly 9 out of 10 (87 percent) had not made a change to their asset allocation in the past year.

“Fidelity realizes that managing money is not something that comes naturally to many people – especially in uncertain economic conditions,” added Moorjani. “And given that everyone’s financial situation is unique -- and each person has a variety of responsibilities and financial considerations -- a workplace managed account can be a valuable choice for investors who want a professionally managed option that is tailored to their individual needs and retirement goals.”

Managed accounts such as PAS-W provide participants with a team of investment professionals who actively manage their retirement savings account. The offering integrates Fidelity’s extensive resources to attempt to balance growth and control risk by actively managing investments that are matched to an individual’s financial situation and risk tolerance. Participants receive support and guidance from Fidelity through multiple channels, including in-house seminars at their workplace, through Fidelity’s network of Investor Centers, and via online and phone guidance interactions. And for many PAS-W participants, their managed account services are closely linked with the services and support provided through their 401(k) account.

For more information on PAS-W, employers may contact their Fidelity representative.

About Fidelity Investments

Fidelity Investments is one of the world’s largest providers of financial services, with assets under administration of $4.5 trillion, including managed assets of $1.9 trillion, as of January 31, 2014. Founded in 1946, the firm is a leading provider of investment management, retirement planning, portfolio guidance, brokerage, benefits outsourcing and many other financial products and services to more than 20 million individuals and institutions, as well as through 5,000 financial intermediary firms. For more information about Fidelity Investments, visit

1 Based on results of online survey of more than 3,000 Fidelity participants via NetBenefits. Survey conducted September, 2013.
2 2013 Fidelity Building Futures data

Fidelity Portfolio Advisory Service at Work is a service of Strategic Advisers, Inc., a registered investment adviser and a Fidelity Investments company. This service provides discretionary money management for a fee.

Performance of the model portfolios depends on the performance of the underlying investment options. These investments are subject to the volatility of the financial markets in the U.S. and abroad and may be subject to additional risks associated with investing in high yield, small cap and foreign securities.

Guidance provided by Fidelity is educational in nature, is not individualized and is not intended to serve as the primary or sole basis for your investment or tax-planning decisions.

Fidelity Brokerage Services LLC, Member NYSE, SIPC
900 Salem Street, Smithfield, RI 02917

Fidelity Investments Institutional Services Company, Inc.
500 Salem St., Smithfield, RI 02917


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