Fidelity Institutional offers clearing, custody, investment products, brokerage and trading services to a wide range of financial intermediary firms. Nearly 10,000 financial advisory firms rely on Fidelity Institutional’s innovative technology and deep expertise to help more than 4 million investors make some of the most complex, important decisions of their lives. Fidelity Institutional's goal is to help clients thrive by supporting the growth of their businesses, enhancing their operational efficiency and delivering insights that help to drive confidence, clarity and results.
Under the umbrella of Fidelity Institutional are several distinct business units with $1.9 trillion in assets under administration (AUA). The group also supports all technology platforms, infrastructure, operations, risk management and management designed to benefit Fidelity Institutional’s clients.1
- The Fidelity clearing and custody businesses have $1.4T in AUA and service over 3,500 clients and 5.8 million accounts.
- Fidelity Clearing and Custody provides a comprehensive clearing and custody platform, brokerage services, trading capabilities and practice management and consulting to registered investment advisors (RIAs), including strategic acquirers and professional asset managers, as well as retirement recordkeepers, broker-dealer firms, banks and insurance companies. In addition to providing services to third-party institutions, the National Financial Services LLC (NFS) brokerage platform supports all the clearing and custody businesses at Fidelity, including Fidelity’s retail, and capital markets businesses, bringing NFS assets under administration to $3.0 trillion.2
- Fidelity Family Office Services Fidelity Family Office Services is the business unit that provides custody, brokerage, investment, and reporting services to wealthy families and family offices.3
- Fidelity Institutional Asset Management is dedicated to the institutional marketplace and serves consultants and institutional investors, such as defined benefits and defined contribution plans, endowments and financial advisors. Fidelity Institutional Asset Management is a gateway to Fidelity’s broad and deep institutional investment management products and capabilities in equity, fixed-income, high-income and global asset allocation. With more than $540 billion in assets under administration and over 750 institutional and 50,000 financial advisors clients, Fidelity Institutional Asset Management is one of the largest organizations serving the U.S. institutional marketplace.
- Fidelity Capital Marketsis the institutional trading arm of Fidelity Investments®, providing trading products and services to a wide array of clients, including buy-side institutions and hedge funds, as well as to Fidelity®’s own businesses. Fidelity Capital Markets offers a suite of electronic brokerage products and execution services across multiple asset classes, including equities, fixed income, options, and FOREX, as well prime brokerage, securities lending, and municipal and bank issued brokered CD underwriting.4
Fidelity Institutional also includes large-scale service organizations:
- The Technology group develops and supports the technology backbone of the entire Fidelity brokerage platform; handles all advisor workstation technology, including the group’s work in mobile apps and interfaces. This group is responsible for leveraging Fidelity’s significant enterprise-wide investment in technology and innovation-oriented culture for the benefit of all FI clients, as well as the clients of Fidelity Personal Investing.5
- The Operations and Services Group opens new accounts, settles trades, manages the margin book, examines client risk and handles most back office operations;
- The Client Experience team handles back office customer interactions, ensuring that every action and decision is handled with integrity and a personal attention to detail; and
- The Document Processing team handles all incoming and outgoing mail and all of the firm’s print production.
Assets as of September 30, 2015
|Total FI assets under administration (AUA)||$1,856 billion|
|Clearing and Custody AUA*:||$1,412 billion|
|NFS AUA**:||$2,914 billion|
* Includes Fidelity Clearing and Custody and Fidelity Family Office Services.
** Includes Fidelity's retail and capital markets businesses, in addition to broker-dealer, third-party recordkeeper, and family office clients.
|Total FI assets under management (FI only)||$489 billion|
FI Business Highlights, as of September 30, 2015
|Total FI client firms:||9,845|
|Total FI Accounts:||8.3 million|
|Daily Average Revenue Trades (DARTs):||234 thousand|
|President, Fidelity Institutional||Gerard McGraw|
|President, Fidelity Institutional Asset Management||Jeff Lagrace|
|President, Fidelity Clearing and Custody||Sanjiv Mirchandani|
|President, Fidelity Family Office Services||Ed Orazem|
|President, Fidelity Capital Markets||Tom Tesauro|
FI Headquarters are in Boston, MA with several regional centers across the United States and Canada, including: Cincinnati, OH/Covington, KY; Westlake, TX; Raleigh, North Carolina; Merrimack, NH; New York/New Jersey; Smithfield, RI; and Toronto, Canada.