Fidelity Adds More than $100 Billion to Workplace Benefit Platform through the First Half of 2018

Strong Sales Across 401(k), 403(b) and Stock Plan Services Businesses Contribute to Record Sales

  • 401(k)
  • Business Cycle Update
  • Saving for Retirement
  • 401(k)
  • 403(b)
  • Employee Stock Purchase Plan
  • Roth 401(k)
  • Stock Plan Services
  • Stock Plans
  • 401(k)
  • Business Cycle Update
  • Saving for Retirement
  • 401(k)
  • 403(b)
  • Employee Stock Purchase Plan
  • Roth 401(k)
  • Stock Plan Services
  • Stock Plans
  • 401(k)
  • Business Cycle Update
  • Saving for Retirement
  • 401(k)
  • 403(b)
  • Employee Stock Purchase Plan
  • Roth 401(k)
  • Stock Plan Services
  • Stock Plans
  • 401(k)
  • Business Cycle Update
  • Saving for Retirement
  • 401(k)
  • 403(b)
  • Employee Stock Purchase Plan
  • Roth 401(k)
  • Stock Plan Services
  • Stock Plans
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BOSTON — As organizations continue to evolve their workplace benefit plans to help workers address increasingly complex financial needs, Fidelity Investments has added more than $100 billion in sales from new 401(k), 403(b) and company stock plan clients over the past year.1

Sales were driven by several factors, including the growing number of employers who are looking to consolidate multiple workplace benefit plans onto a single platform, streamlining administration and creating a more simplified experience for employees. Fidelity manages multiple types of workplace benefit plans for roughly one third (32 percent) of current clients, and the ability to provide employers with a unified view across their plans has proven to be a key competitive differentiator for Fidelity.

An additional factor driving sales is the broad array of Fidelity products and education designed to help employees with a variety of financial needs and at different levels of financial literacy. Whether an employee needs help paying down their student debt, managing their equity compensation awards, or building a holistic financial plan that goes beyond retirement savings, Fidelity's tools and services are often one of the key reasons an organization selects Fidelity to manage their workplace benefit plans.

Following is an overview of business results, as of June 30, for core product areas:

  • Defined Contribution/401(k) plans. Fidelity's defined contribution (DC) business, which includes 401(k) plans, added a record $88 billion in sales, a 50 percent increase over last year's sales total, and nearly 1,400 new employers to its DC platform, including 1,000 in the small market. New clients include ASICS America Corporation, one of the world's leading international sports companies and a true sport performance brand.
  • Tax-Exempt/403(b) plans. Fidelity added a record of $13 billion in assets and 8 new not- for-profit organizations. New clients in this area include Hartford HealthCare, Connecticut's most comprehensive health care network, and Montefiore Medical Center, ranked among the top hospitals nationally and regionally by U.S. News & World Report.
  • Company stock plans. Fidelity's Stock Plan Services business, which provides companies with a range of equity compensation services for restricted stock plans, performance plans, stock options and employee stock purchase plans, added $21 billion in assets across 46 new clients. Clients who recently chose Fidelity include LogMeIn, Inc., a leading provider of cloud-based remote connectivity services for collaboration, IT management and customer engagement.

"While we're extremely pleased to welcome these new clients to the Fidelity family, we’re just as proud of the number of clients who continue to put their trust in Fidelity every day," said Kevin Barry, president, Workplace Investing, Fidelity Investments. "Despite an ultra- competitive environment, Fidelity has recorded a 99 percent client retention rate over the last year, which we feel is a testament to the industry-leading products, service and overall client experience we're able to deliver."

About Fidelity Investments

Fidelity's mission is to inspire better futures and deliver better outcomes for the customers and businesses we serve. With assets under administration of $7.2 trillion, including managed assets of $2.6 trillion as of July 31, 2018, we focus on meeting the unique needs of a diverse set of customers: helping more than 27 million people invest their own life savings, 23,000 businesses manage employee benefit programs, as well as providing more than 12,500 financial advisory firms with investment and technology solutions to invest their own clients' money. Privately held for 70 years, Fidelity employs more than 40,000 associates who are focused on the long-term success of our customers. For more information about Fidelity Investments, visit https://www.fidelity.com/about.

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Personal Investing

We provide financial planning and retirement options such as IRAs, annuities, and managed accounts; brokerage and cash management products; college savings accounts; and other financial services for millions of individual investors.

Workplace Investing

We work with employers to build benefit programs for their employees, and provide recordkeeping, investments, and servicing in defined contribution, defined benefit, health & welfare, and stock plan services.

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We bring sophisticated technology and highly personalized service together to offer clearing, custody, investment products, brokerage, and trading services to a wide range of financial firms.

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Fidelity Institutional Asset Management is a distribution organization dedicated to the institutional marketplace. It serves consultants and institutional investors, such as defined benefit and defined contribution plans, endowments, and financial advisors.

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