Fidelity Investments
Headquarters at 245 Summer Street in Boston | |
| Formerly | Fidelity Management and Research Company |
|---|---|
| Company type | Private |
| Industry | Financial services |
| Founded | 1946 (as Fidelity Management & Research) |
| Founder | Edward C. Johnson II |
| Headquarters | Boston, Massachusetts, U.S. |
Area served | Worldwide |
Key people | Abigail Johnson (CEO) |
| Products |
|
| Services |
|
| Revenue | US$32.7 billion (2024) |
| US$10.3 billion (2024) | |
| AUM | US$5.9 trillion (2024) |
| Owner | Abigail Johnson and family (roughly 40%) Current and former employees (roughly 60%) |
Number of employees | 77,000 (2024) |
| Website | fidelity |
| Footnotes / references [1][2] | |
Fidelity Investments, formerly known as Fidelity Management & Research (FMR), owned by FMR LLC and headquartered in Boston, Massachusetts, provides financial services. Established in 1946, the company is one of the largest asset managers in the world, with $5.8 trillion in discretionary assets under management, and $15.1 trillion in assets under administration, as of December 2024.[3]
Fidelity operates a brokerage firm, manages mutual funds, provides fund distribution and investment advice, retirement services, index funds, wealth management, securities execution and clearance, asset custody, and life insurance. It offers brokerage clearing and back office support and software products for financial services firms. It also offers a donor-advised fund, Fidelity Charitable, for clients seeking to donate securities. It processes 3.5 million daily average trades. It is one of the largest providers of 401(k) plans and manages employee benefit programs for more than 28,800 businesses.[3]
Abigail Johnson, granddaughter of founder Edward C. Johnson II, and her family and their affiliates own a roughly 40% interest in the company. The remainder is owned by current and former executives.[4][5][6][7]
The company also makes investments on its own account for the benefit of the founding family and its executives.[8] Investments have included Seaport Center and 2.5 million square feet of office space in Boston;[9] COLT Telecom Group;[10] MetroRed;[11] Community Newspaper Company;[12] Lanoga;[13] Hope Lumber;[13] ProBuild;[14] and Boston Coach.[15]
- ^ "2024 Annual Report" (PDF). Fidelity Investments.
- ^ "Our Heritage". Fidelity Investments.
- ^ a b "About Fidelity - Our Company". Fidelity Investments.
- ^ Gyftopoulou, Loukia (March 22, 2024). "Fidelity's Abby Johnson Tightens Grip on Far-Flung Family Empire". Wealth Management.
- ^ "Johnson still Fidelity successor?". CNN. October 28, 2005.
- ^ Grind, Kirsten (October 13, 2014). "Abigail Johnson Named CEO of Fidelity Investments". The Wall Street Journal.
- ^ "Abigail Johnson". Forbes.
- ^ Leung, Shirley (August 9, 2013). "A heavy loss in Fidelity's pursuit of the perfect tomato". Boston Globe.
- ^ DIESENHOUSE, SUSAN (April 9, 2000). "Fidelity: A Major Investor in Real Estate, Too". The New York Times.
- ^ Kunert, Paul (August 12, 2015). "Colt shareholders grab Fidelity offer, declare 'we're outta here'". The Register.
- ^ Hechinger, John (February 25, 2003). "Fidelity to Give $217 Million To a Number of Top Retirees". The Wall Street Journal.
- ^ BARRINGER, FELICITY (September 29, 2000). "THE MEDIA BUSINESS; Fidelity Sells Newspapers To Boston Herald Owner". The New York Times.
- ^ a b Kerber, Ross; Pressman, Aaron (November 5, 2009). Krasny, Ros; Grenon, Andre (eds.). "Fidelity's ProBuild investment stumbles -- filing". Reuters.
- ^ "Builders FirstSource Completes Acquisition of ProBuild" (Press release). Globe Newswire. July 31, 2015. Archived from the original on October 19, 2017.
- ^ Healy, Beth (May 23, 2013). "Fidelity selling BostonCoach limousine group, launched in 1985 by chairman Ned Johnson". The Boston Globe.