Fidelity

What Fidelity does

Fidelity Investments (FMR LLC) is a privately-held, Johnson-family-controlled diversified financial services firm founded in 1946 and headquartered in Smithfield, Rhode Island. The firm operates across retail brokerage, retirement plan recordkeeping, wealth management, institutional custody, and digital assets, managing over $5 trillion in assets across more than 53 million retirement accounts and millions of individual brokerage relationships. Customers span individual retail investors, high-net-worth households, employers and plan sponsors, registered investment advisors, and institutional clients, with multi-channel service through fidelity.com, mobile apps, physical Investor Centers, and dedicated advisors.

The platform spans self-directed brokerage accounts, IRAs (Roth, traditional), HSAs, 529 plans, annuities, term life insurance, and workplace plans via the NetBenefits recordkeeping platform. Advisory offerings include Fidelity Go (robo), Fidelity Managed FidFolios, Fidelity Wealth Management, and direct indexing with tax-loss harvesting. On the digital assets side, Fidelity operates Fidelity Digital Assets (institutional custody), Fidelity Crypto (retail trading), and a growing suite of spot cryptocurrency ETFs - FBTC (#2 spot Bitcoin ETF at ~$13.4B AUM), FETH (Ethereum), and FSOL (Solana) - each at a 0.25% expense ratio. Proprietary passive ETFs (e.g., FHLC, FNCL at 0.08%; FDVV at 0.15%) leverage scale to compete aggressively on fees.

Revenue is generated primarily through asset-based management and advisory fees, brokerage and transaction fees (with commission-free U.S. stock/ETF trading online), workplace plan recordkeeping services, and custody fees from RIA and institutional clients. Distribution is anchored by the largest RIA custody position among aggregators like Concurrent, deep workplace plan penetration, and strategic alliances such as the Morgan Stanley 'Integrated Firm' initiative for the $6.5T RIA channel.

Name

Fidelity

Legal name

FMR LLC

Website

https://fidelity.com

Company type

Private

Founded year

1946

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Fidelity Investments is a privately-held, diversified financial services firm managing over $5 trillion across retail brokerage, retirement recordkeeping, wealth management, and digital assets, serving individual investors, workplace plan sponsors, RIAs, and institutions through direct, advisor, and digital channels.

Ownership category

akta.pro rank

Product category

Investment Management

NAICS

Portfolio Management and Investment Advice (523940), Portfolio Management and Investment Advice (52394)

SIC

Investment Advice (6282)

akta.pro primary industry

Portfolio Management–Led RIAs (Discretionary/Model-Based) (FSAAACAC)

Keywords

• Investment management services
• Retirement plan administration
• Wealth management advisory
• Brokerage and trading
• Asset custody services

Headquarters

HQ city

Boston

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Infrastructure, Marketing or Sales

Revenue model

1. Asset Management Fees: Fidelity earns management fees from its proprietary mutual funds, ETFs, and separately managed accounts. These fees are typically calculated as a percentage of assets under management (e.g., Fidelity MSCI Health Care Index ETF at 0.08%, Fidelity High Dividend ETF at 0.15%, Fidelity Nasdaq Composite Index ETF with $10.60 billion market cap)
2. Brokerage Commissions and Fees: Fidelity generates revenue from brokerage services including trading commissions (though US stocks and ETFs trade commission-free online), options trading, and other transaction-based fees. The firm also charges account fees and transfer fees.
3. Advisory Fees: Fidelity charges advisory fees for professional wealth management services including Fidelity Go (robo-advisor), Fidelity Managed FidFolios, and full-service wealth advisory through Strategic Advisers LLC and Fidelity Wealth Services
4. Workplace Retirement Plan Services: Revenue from providing 401(k), 403(b), and other workplace retirement plan administration and recordkeeping services to employers through NetBenefits platform
5. Custody Services: Fidelity serves as a custodian for RIA firms and institutional clients, earning custody fees for holding and administering client assets. Fidelity remains the largest custodian among major RIA aggregators including Concurrent

Pricing tiers

Go-to-market motion4 records

Distribution channels5 records

Marketing channels8 records

Core offering

Fidelity is a diversified financial services firm that sells self-directed and advisor-assisted brokerage accounts, retirement accounts (IRA, 401(k), 403(b), HSA, 529), wealth management services, proprietary mutual funds and ETFs, annuities, life insurance, and digital asset products. It also provides workplace retirement plan administration to employers and custody services to RIAs, generating revenue through management fees, brokerage and advisory fees, custody fees, and workplace plan services.

Product overview

Fidelity Investments is a diversified financial services company offering a comprehensive platform of investment products, retirement accounts, and wealth management services. The core offerings include self-directed brokerage accounts for trading stocks, ETFs, mutual funds, options, bonds, and CDs with commission-free US stock and ETF trading. The retirement ecosystem encompasses Roth IRAs, traditional IRAs, 401(k) rollovers, HSAs, 529 college savings plans, and workplace retirement plans managed through NetBenefits. Fidelity has expanded into digital assets through Fidelity Crypto for trading and Fidelity Digital Assets for institutional custody, with a product suite that includes spot cryptocurrency ETFs (FBTC for Bitcoin, FETH for Ethereum, and FSOL for Solana) with identical 0.25% expense ratios. The company serves individual investors, wealth management clients, and institutional investors through digital platforms, mobile apps, and a network of Investor Centers, while also providing dedicated advisor relationships through Fidelity advisors. Additional services include managed accounts, direct indexing, charitable giving through Fidelity Charitable, annuities, life insurance, and employer-sponsored workplace plans. Fidelity's scale is demonstrated by its position as the largest custodian among RIA aggregators and its role in SpaceX IPO distribution.

Differentiator

Problem solved

Functional benefit

Brands

• Fidelity Digital Assets: Cryptocurrency custody and trading services for institutional investors
• Fidelity Charitable
• Fidelity Go
• Fidelity Viewpoints
• Fidelity Wealth Management
• NetBenefits
• Fidelity Crypto

Products and services

• Fidelity Brokerage Account Self-directed investing account for individual investors to trade US stocks, ETFs, mutual funds, options, bonds, and CDs with $0 account fees and commission-free online US stock and ETF trading.
• Fidelity Roth IRA Tax-advantaged retirement account for individual investors offering tax-free growth on investments and tax-free withdrawals in retirement, with access to contributions anytime without penalties.
• Fidelity Health Savings Account (HSA) Triple-tax-advantaged account for healthcare expenses with no account fees or minimums, enabling customers to earn interest on cash, invest funds, or both.
• Fidelity 529 College Savings Plan Tax-advantaged education savings plan offering federal income tax-deferred earnings and tax-free withdrawals for qualified education expenses including college, trade school, and K-12 tuition nationwide.
• Fidelity Crypto Platform enabling cryptocurrency trading and investment within Fidelity accounts, offering exposure to Bitcoin and other digital assets through a regulated brokerage experience.
• Fidelity Wise Origin Bitcoin Fund (FBTC) Spot Bitcoin ETF offering direct cryptocurrency exposure through standard brokerage accounts without digital wallet management, with 0.25% expense ratio and approximately $13.4 billion in AUM.
• Fidelity Ethereum Fund (FETH) Spot Ethereum ETF providing institutional exposure to Ethereum through a regulated ETF wrapper with custody through Fidelity Digital Assets.
• Fidelity Solana Fund (FSOL) Spot Solana ETF offered through Fidelity, contributing to combined Bitwise and Fidelity Solana ETF AUM exceeding $1 billion since late 2025.
• Fidelity Managed Accounts Professional investment management services including Fidelity Managed FidFolios, personalized portfolio management, and advisory solutions for individual investors.
• Fidelity Wealth Management Comprehensive wealth management services for high-net-worth individuals including financial planning, investment management, and estate planning, with dedicated advisors to build customized wealth strategies.
• Fidelity Direct Indexing Direct indexing service enabling personalized index fund management with tax-loss harvesting capabilities at scale.
• Fidelity MSCI Health Care Index ETF (FHLC) Broad healthcare sector ETF offering diversified exposure to 338 pharma, managed care, medical devices, and biotechnology stocks with a 0.08% expense ratio and 1.28% yield.
• Fidelity MSCI Information Technology Index ETF (FTEC) Technology sector ETF tracking the MSCI US IMI Information Technology Index with over 300 stocks, offering exposure to tech hardware, semiconductors, and enterprise software.
• Fidelity Select Semiconductors Portfolio Technology-focused mutual fund concentrated in semiconductor equities delivering 41.77% annualized 5-year returns and rated Zacks #1 Strong Buy.
• Fidelity High Dividend ETF (FDVV) Growth-oriented high dividend ETF with 2.80% trailing dividend yield, 0.15% expense ratio, 119 holdings, and 31% technology exposure targeting dividend growth and capital appreciation.
• Fidelity Nasdaq Composite Index ETF (ONEQ) ETF tracking the Nasdaq Composite Index with $10.60 billion market capitalization, 18.27% 10-year average annual returns, outperforming the broader market by 4.71% annualized.
• Fidelity Charitable Giving Account Donor-advised charitable giving platform enabling tax-efficient charitable donations through invested accounts.
• Fidelity Annuities Annuity products offered through Fidelity for retirement income planning, with both fixed and variable options.
• Fidelity Life Insurance Term life insurance products offered through Fidelity for protection and estate planning needs.
• NetBenefits Workplace Retirement Plans Workplace retirement plan administration platform serving employers for 401(k), 403(b), pension, and other employee benefit plans.
• Fidelity Custody Services for RIAs and Institutions Institutional custody services for registered investment advisors and family offices, with Fidelity positioned as the largest custodian among major RIA aggregators.
• Fidelity Digital Assets Institutional-grade cryptocurrency custody and trading services for Bitcoin, Ethereum, and other digital assets, operating as a wholly owned subsidiary of Fidelity.
• Trump Accounts (530A accounts) support Federal children's savings and investment program (530A accounts) launched July 4, 2026 with a one-time $1,000 seed contribution and up to $5,000 annual contributions, invested in low-cost index funds or ETFs; Fidelity supports the program alongside other children's savings vehicles.

Quantifiable outcome

• Record 14.4% total 401(k) savings rate achieved in Q1 2026
• +3 more outcomes

Named customers4 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature7 records

Partnerships

One partnership is on record.

• Morgan StanleycoreStrategic or Co-development PartnerMorgan Stanley launched an 'Integrated Firm for RIAs and Family Offices' initiative that includes strategic alliances with Fidelity, Schwab, CAIS, iCapital, and Halo Investing. The initiative leverages Morgan Stanley Investment Management's roughly $2 trillion in assets to expand advisor access to its strategies through Fidelity's distribution network.

Scale indicators9 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Charles Schwab: Direct competitor across retail brokerage, commission-free trading, ETFs, mutual funds, retirement accounts, and RIA custody — overlapping nearly the full product surface that Fidelity offers individual investors and advisors.
• Vanguard: Direct competitor in mutual funds, ETFs, and retirement accounts — Vanguard's lower-fee index philosophy explicitly pressures Fidelity's active and ETF pricing across shared 401(k) and IRA accounts.
• BlackRock: Direct competitor in asset management, ETFs (including the #1 spot Bitcoin ETF IBIT that competes with Fidelity's FBTC), and institutional investment services — operating a comparable AUM-scale fund platform globally.
• T. Rowe Price: Publicly-traded asset manager with strong overlap in actively-managed mutual funds, retirement plan offerings, and individual investor accounts — closely comparable in target market and product mix to Fidelity's retail asset management business.
• Edward Jones: Retail wealth management franchise serving individual investors with advisor-led service — comparable to Fidelity's Investor Center/advisor network model in serving mass-affluent and retirement-savings customers.
• Raymond James Financial: Diversified retail wealth management and investment services firm — competes with Fidelity in brokerage, advisor services, retirement plan administration, and asset management for individual and advisor-channel clients.

Broad incumbents

• Morgan Stanley Wealth Management: Broader incumbent in wealth management and retirement plan services, and a strategic ally of Fidelity — competing for advisor-led wealth clients and overlapping in workplace retirement and institutional asset management.
• Goldman Sachs Asset Management: Broader institutional asset manager with overlapping ETF, retirement, and wealth capabilities; offers competing custody and advisory services that intersect with Fidelity's institutional and wealth segments.
• State Street (State Street Global Advisors): Major institutional asset manager and custody provider — competing in custody services, ETF platform (SPDR), and institutional investment management that overlap with Fidelity's institutional business lines.
• JPMorgan Chase Wealth Management: Bank-affiliated wealth management and self-directed investing platform with mass-affluent and retirement account services — broader incumbent overlapping with Fidelity's digital brokerage and high-net-worth advisory segments.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat7 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/Fidelity
• YouTubeyoutube.com/user/fidelityinvestments
• Facebookfacebook.com/fidelityinvestments
• LinkedInlinkedin.com/company/fidelity-investments
• Instagraminstagram.com/fidelityinvestments
• TikToktiktok.com/@fidelityinvestments

Compliance8 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries8 records

Funding overview

Funding rounds8 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A5 records

Investments652 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Fidelity