Fidelity® Expands Custody Capabilities to Help Banks and Trust Companies Maximize Efficiency, Lower Costs

Fidelity Now a Full-Service Custodian for all Bank and Trust Asset Classes

BOSTON – Fidelity Institutional Wealth Services® today announced the expansion of its bank custody capabilities to service all asset classes for trust companies and trust departments at banks. Currently a leading custodian for mutual funds offered through banks, Fidelity now has the ability to custody equity and fixed income securities as well as money market funds with same-day settlement, helping banks and trust companies reduce their custodial relationships, maximize efficiency and lower costs.

There are approximately 7,200 bank and trust companies in the United States, servicing more than $14 trillion in assets and typically requiring multiple custodial partners . With Fidelity’s expanded capabilities, bank and trust companies can consolidate with one custodian, capitalizing on a combination of bank services and brokerage capabilities, backed by the experience of Fidelity Capital Markets, the company’s institutional trading arm.

“In listening to our bank and trust clients, we identified the need for a solution that enabled them to custody all of their assets with one partner,” said Meg Kelleher, executive vice president, Fidelity Institutional Wealth Services. “This solution helps our clients reduce risk, increase transparency and lower costs – ultimately driving greater efficiency in their operations.”

Fidelity’s ability to now custody all asset classes for banks and trust companies is supported by an integrated platform and interface that offers firms increased efficiency and risk management benefits. The platform enables firms to place orders in their trust accounting systems and send them electronically to Fidelity, providing a processing environment with no manual component. Banks and trust companies receive complete support for individual securities and benefit from consolidated daily net settlements.

In order to ensure the offering was designed to serve the needs of a wide range of institutions, Fidelity worked closely with bank and trust companies to incorporate their input and feedback.

“We worked with Fidelity from day one to share our day-to-day experience with bank custody,” said April Eden, vice president, trust operations, First American Trust, FSB. “We consider Fidelity’s offering to be best-of-breed because it provides streamlined processing in a brokerage environment, coupled with the hands-on daily contact required in the trust environment.”

For more information on Fidelity’s consolidated bank custody capabilities and to hear what bank and trust companies have to say about the new offering, visit

About Fidelity Investments
Fidelity Investments is one of the world’s largest providers of financial services, with assets under administration of $3.7 trillion, including managed assets of $1.6 trillion, as of August 31, 2012. 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

The registration marks appearing herein are the property of their respective owners.

First American Trust, FSB and First American Financial Corporation are independent companies, unaffiliated with Fidelity Investments, and the opinion expressed is that of First American Trust and First American Financial Corporation and not Fidelity Investments.

Fidelity Institutional Wealth Services is a division of Fidelity Brokerage Services LLC.

Fidelity Capital Markets is a division of National Financial Services LLC.

Clearing, custody, or other brokerage services may be provided by National Financial Services LLC, or Fidelity Brokerage Services LLC, Members NYSE, SIPC.


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