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Fidelity by the Numbers: Fidelity Institutional

Overview

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 more than $1.8 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 more than $1.4 trillion in AUA and service over 3,400 clients and 5.5 million accounts.
    • Fidelity Institutional Wealth Services® provides a comprehensive 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.2
    • National Financial® offers a comprehensive clearing platform, trading capabilities and business process and operations consulting to 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 $3.4 trillion.3
    • Note: On February 24, 2015, Fidelity Institutional Wealth Services and National Financial were combined as Fidelity Clearing and Custody under the leadership of Sanjiv Mirchandani. Fact sheet for Q1 2015 to reflect this change.
    • Fidelity Family Office Services provides custody, brokerage, investment, and reporting services to wealthy families and family offices.4
  • Fidelity Financial Advisor Solutions offers investment management products, including Fidelity Advisor Funds®, Variable Insurance Product (VIP) Portfolios, systematic investment plans, institutional money market funds and a comprehensive line of retirement products and solutions to investment professionals, plan sponsors and consultants at institutions nationwide.
  • 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.5
    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.6
    • 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.
    • The Document Processing team handles all incoming and outgoing mail and all of the firm's print production.

Assets as of December 31, 2014

Total FI assets under administration (AUA) $1,878 billion
Clearing and Custody AUA $1,447 billion
NFS AUA* $2,969 billion
* Includes Fidelity's retail and capital markets businesses, in addittion to broker-dealer, third-party recordkeeper, and family office clients.

FI Business Highlights, as of December 31, 2014

Total FI client firms: 9,662
Total FI Accounts: 8.0 million
Daily Average Revenue Trades (DARTs): 206 thousand

Leadership

President, Fidelity Institutional Gerard McGraw
President, Fidelity Financial Advisors Solutions Scott Couto
President, Fidelity Institutional Wealth Services Michael Durbin
President, National Financial Sanjiv Mirchandani
President, Fidelity Family Office Services Ed Orazem
President, Fidelity Capital Markets Tom Tesauro
Note: On February 24, 2015, Fidelity Institutional Wealth Services and National Financial were combined as Fidelity Clearing and Custody under the leadership of Sanjiv Mirchandani. Fact sheet for Q1 2015 to reflect this change.

Employees

Total Employees: 5,800+

Locations

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.

Our Company

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.

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.

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.

Pyramis is an asset manager focused on developing solutions to serve the needs of institutional investors, including pensions, endowments, and foundations around the world.

Fidelity Charitable is an independent public charity that allows donors to establish a dedicated donor-advised fund to support their favorite charities in the short term and create a systematic plan for longer term philanthropic goals.

Fidelity Labs explores emerging technology and harnesses innovation to benefit Fidelity's businesses and customers.

Careers at Fidelity

Fidelity Careers Sales, relationship management, product, marketing, technology, operations, and corporate functions


Asset Management Careers Investment management and support

1. Fidelity Institutional provides clearing, custody, or other brokerage services through National Financial Services LLC or Fidelity Brokerage Services LLC. Members NYSE, SIPC.
2. Fidelity Institutional Wealth Services is a division of Fidelity Brokerage Services LLC. Member NYSE, SIPC.
3. National Financial is a division of National Financial Services LLC. Member NYSE, SIPC.
4. Fidelity Family Office Services is a division of Fidelity Brokerage Services LLC. Member NYSE, SIPC.
5. Fidelity Capital Markets is a division of National Financial Services LLC. Member NYSE, SIPC.
6. Fidelity Personal Investing is a division of Fidelity Brokerage Services LLC. Member NYSE, SIPC.
The registered trademarks and service marks appearing herein are the property of FMR LLC.
Fidelity Institutional Wealth Services provides brokerage products and services and is a division of Fidelity Brokerage Services LLC. Fidelity Family Office Services is a division of Fidelity Brokerage Services LLC. National Financial is a division of National Financial Services LLC through which clearing, custody and other brokerage services may be provided. Fidelity Capital Markets is a division of National Financial Services LLC. Members NYSE, SIPC.
Fidelity Financial Advisor Solutions (FFAS) provides products and services to investment professionals, plan sponsors, institutional investors, and individual investors through Fidelity Investments Institutional Services Company, Inc., 500 Salem Street, Smithfield, RI 02917.
200 Seaport Blvd., Boston, MA 02210
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