Fidelity continues to invest in the people and technology to modernize and deliver the best customer experience in the industry. We are making investing more accessible to the next generation of customers by providing education, support, and exceptional value.
TOTAL DISCRETIONARY ASSETS1
⮝ 22.1% from Q3 2020
ASSETS UNDER ADMINISTRATION2
⮝ 26.1% from Q3 2020
DAILY AVERAGE TRADES3
⮝ 12.1% from Q3 2020
Customer, Account, and Business Growth
TOTAL RETAIL ACCOUNTS
⮝ 22.9% from Q3 2020
WORKPLACE PLAN PARTICIPANT ACCOUNTS
⮝ 5.9% from Q3 2020
CLEARING AND CUSTODY ACCOUNTS
⮝ 12.7% from Q3 2020
NEW RETAIL ACCOUNTS
⮝ 16% from Q3 2020
44% of new retail accounts opened in Q3 were by a customer between the ages of 18-35.
NEW RETAIL ACCOUNTS OPENED
BY INVESTORS 18-35 YEARS OLD
⮝ 28% from Q3 2020
HSA GROWTH TO 12% MARKET SHARE
#3 in the U.S.
Based on assets, according to Devenir Research
Q3 business results as of September 30, 2021.
1Includes all Fidelity investment products, such as mutual funds and managed accounts.
2Fidelity Internal Information as of September 30, 2021.
3Daily Average Trades include Total Fidelity (retail brokerage and institutional brokerage).
“We know that the next generation of investors wants tools that are easy to use and reflect the digital experiences they are using in other parts of their lives, so we have teams dedicated to creating more intuitive digital experiences across all our platforms. We believe that Fidelity’s differentiators are our strength, stability, and customer support, which enable us to be a partner for these customers throughout their lifelong financial journeys.”
- ABBY JOHNSON, CHAIRMAN AND CEO
MODERNIZING THE CUSTOMER EXPERIENCE
We put our customers at the center of everything we do. That's why we are available 24/7 to answer your phone calls, provide answers via our personalized mobile and digital tools, or on social media. And our customer experience is only getting better. In Q3, we announced 9,000 new roles across our customer-facing teams, technology groups to enhance our digital experience, and we're growing our investments in emerging areas like digital assets, which has increased in headcount by 180% since 2018.
For Individual Investors:
Integrated PayPal and Venmo into the Fidelity app experience to make it easier to transfer money to and from Fidelity.
Introduced SimpliSpeakSM which allows customers to use their voice to securely login to their Fidelity account on a smartphone, tablet, or laptop.
Ongoing enhancements to our digital experience on mobile and desktop, including a new beta experience with simplified navigation, watch lists, and more. Downloads of the Fidelity app increased 93% through September 2021 compared to the same period last year.
52% year-over-year increase in digital planning tools usage as a result of a simplified experience and expanded tools for spending, savings, and debt planning.
Launched real-time fractional share trading of stocks and ETFs for advisors to offer more personalized portfolios to their clients.
Expanded lineup of Model Portfolios with more target allocation mixes to deliver more flexibility to advisors and help them better serve their investors.
Announced access to cybersecurity solution via Armorblox, a third-party cybersecurity company, to help protect advisors and their clients’ business emails from fraudulent activity.
For Workplace Clients and Participants:
To help private companies prepare to go public, Stock Plan Services teamed up with Shoobx® to offer equity management support. This comes during a record number of IPOs in the past 18 months.4
Defined Contribution (DC) Client Service Operations accuracy reached a record high of 99.993% amidst historically high volumes and executed 5.6 billion financial transactions on behalf of participants.
Maintained nearly 100% client retention across all segments.
4Ernst & Young, “Global IPO market: 2021 expected to be a good year for new issues,” January 5, 2021
IMPROVING ACCESS TO FINANCIAL SUPPORT
We added resources and tools to help new investors get started and manage the life events that can affect their financial well-being. We also expanded our financial literacy programs to help students of any age, whether they are learning from home or in the classroom.
Meeting New Investors Where They Are:
Launched the official Fidelity TikTok channel to help make saving and investing feel accessible and relevant by presenting financial services in a more approachable way.
Continue to engage with customers on Reddit to answer questions and use direct feedback to influence Fidelity’s products and services.5
Enhanced the Apple Watch® experience, which includes new features such as the ability to see top account movers, detailed positions within each account, market indices, charts, customer watchlists, and relevant market news directly from the Apple Watch®.
Launched Modern Life, a new podcast and newsletter where we share real stories about life, money, and redefining what matters. Subscribers gain personal and practical insights to help live their best financial life.
Advancing Financial Literacy in Our Communities:
Reached 1,100 educators through virtual financial literacy Learning Lab events, in partnership with the Council for Economic Education so far in 2021.
Served 102,000 students through Fidelity Cares programming in 2021.
CONTINUING TO BUILD AN INDUSTRY-LEADING
EXPERIENCE FOR ASSOCIATES
Delivering the best customer experience starts with delivering the best associate experience.
Introduced benefits enhancements including increased student loan assistance, parental leave, work-from-home allowance, and more paid time off for some employees.
Welcomed 10,500 more employees to Fidelity's U.S. offices through voluntary re-entry programs.
AWARDS AND RECOGNITION5
2021 Top Workplaces for New Mexico, Denver and 2021 Best Places to Work for North Carolina.
Named to America's Best Employers for Women by Forbes.
2021 Women in Asset Management Awards recognized Kelly Lannan, Di Chen, and Morgan Peck as finalists, and 11 other Fidelity associates were nominated for awards.
Karin Fronczke, head of Private Equity Investments in Fidelity’s Asset Management group, was named to Fortune’s 40 under 40 list for her work in helping deliver more value to Fidelity’s shareholders.
Fidelity won four 2021 WealthManagement.com Industry Awards.
Kiplinger's Review ranked Fidelity #1 for Investment Choices, Advisory Services, Tools, and #1 overall for Top Online Brokerage.
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