Fidelity Investments

What Fidelity Investments does

Fidelity Investments is a privately-held financial services firm founded in 1946 and headquartered in Boston, Massachusetts, providing investment products and services to retail investors, workplace retirement plan participants, financial advisors, and institutional clients. Its service portfolio spans self-directed brokerage, employer-sponsored retirement plan administration for 401(k)/403(b)/457 plans, wealth management, a proprietary family of mutual funds and ETFs, Fidelity Digital Assets custody for cryptocurrencies, and the newly launched Fidelity Reserves Digital Fund (FYMXX) stablecoin reserve product structured under the GENIUS Act. Underlying technology includes cloud infrastructure, AI-driven analytics, the Brokerage Through Retirement (BTR) cross-account platform, and tokenized fund infrastructure developed in partnership with BlackRock, Goldman Sachs, and BNY. The company manages $15.0 trillion in assets under administration and $7.1 trillion in assets under management as of March 2025, with 43 million+ customer accounts.

Fidelity's revenue model combines asset-based advisory and management fees tied to AUM, expense ratios on proprietary funds (including zero-expense-ratio index offerings), securities lending and net interest income on customer balances, and selective transaction-based income. Distribution is heavily anchored in workplace retirement plan relationships, which generate long-duration participant relationships and cross-sell into retail brokerage, while advisor and institutional channels supplement with separately managed accounts, collective investment trusts, and tokenized products. Reported FY2025 revenue was $37.7 billion, reflecting approximately 15% year-over-year growth driven by AUM expansion and product mix.

The company operates at scale with 21,000+ employees subject to a return-to-office mandate, 5,300 planned new hires for 2026, and an active workforce restructuring that eliminated 800-1,000 technology and product roles while adding approximately 3,300 roles focused on AI, data, and digital assets. Recent strategic activity, including the Lodha Developers investment and India recognition, signals geographic expansion beyond the United States, while tokenized fund partnerships and the stablecoin reserve fund establish Fidelity as a regulated infrastructure participant in the digital asset ecosystem.

Name

Fidelity Investments

Legal name

FMR LLC

Website

https://fidelity.com

Company type

Private

Founded year

1946

Operating status

Operating

Headcount range

10,001+ employees

Short description

Fidelity Investments is a privately-held financial services company providing investment products, retirement plan administration, brokerage, wealth management, and digital asset services to retail investors, employers, advisors, and institutions. Manages $7.1 trillion in assets.

Ownership category

akta.pro rank

Product category

Investment Management

NAICS

Portfolio Management and Investment Advice (523940), Open-End Investment Funds (525910), Pension Funds (525110), Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523), Finance and Insurance (52)

SIC

Investment Advice (6282), Security Brokers, Dealers & Flotation Companies (6211), Security & Commodity Brokers, Dealers, Exchanges & Services (6200)

akta.pro primary industry

Full-Service Retail Brokerage & Wealth Platforms (FSAAAAAA)

akta.pro secondary industries

Retirement & Pension Wealth (401(k)/IRA/SIPP/Superannuation Retail) (FSAAAAAJ), Digital Brokerage & Self-Directed Investing Platforms (FSAGAEAC), Institutional Consulting RIAs (OCIO/Endowments/Foundations/Pensions) (FSAAACAG), Prime Brokerage & Institutional Trading Services (FSAPADAF)

Keywords

• Retirement plan administration
• Wealth management services
• Investment management
• Brokerage services
• Digital asset custody

Headquarters

HQ city

Boston

HQ country

United States

HQ region

North America

Offices5 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Advisory Fees: Fees charged on managed accounts, including Fidelity Go robo-advisor, Fidelity Managed FidFolios, and human-advisor managed accounts. Fees range from 0.05% to 1.5% annually depending on account size and service level.
2. Trading Commissions: Commissions from equity, option, and ETF trades. Stock and ETF trading is commission-free for most accounts, with fees applicable to certain complex strategies and futures.
3. Investment Product Fees (Expense Ratios): Revenue from mutual funds and ETFs through expense ratios embedded in Fidelity and third-party funds distributed through the platform.
4. Interest and Financing: Interest income from margin lending, securities lending, and cash sweep programs. Also includes revenue from portfolio margin and other financing services.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels12 records

Core offering

Fidelity Investments operates a comprehensive financial services platform delivering self-directed brokerage (Fidelity Brokerage with commission-free U.S. stock/ETF trading, fractional shares, options, fixed income, and crypto), automated and human advisory services (Fidelity Go robo-advisor, Fidelity Managed FidFolios direct indexing, Fidelity Wealth Services), retirement plan administration (401(k)/403(b)/457 plans, IRAs, target-date funds), institutional asset management for pensions and endowments, and digital asset custody/trading through Fidelity Digital Assets and Fidelity Crypto. The platform serves retail investors, workplace plan participants, high-net-worth clients, financial advisors, and institutional investors through fidelity.com, mobile apps, the NetBenefits workplace portal, and dedicated advisor and institutional sales channels.

Product overview

Fidelity Investments operates as a comprehensive financial services platform offering a diversified portfolio of investment and wealth management products. The core offering includes self-directed brokerage services (Fidelity Brokerage) with commission-free trading, combined with advisory services (Fidelity Go robo-advisor, Fidelity Managed FidFolios direct indexing, and Fidelity Wealth Services). Retirement solutions form a major pillar, encompassing 401(k) and IRA accounts through NetBenefits plus the Fidelity Freedom Fund family of target-date funds. The company has expanded into digital assets with Fidelity Crypto for Bitcoin/Ethereum trading and Fidelity Digital Assets for institutional custody. Recent additions include the Fidelity Reserves Digital Fund for stablecoin reserves and upcoming Fidelity Freedom Lifetime with guaranteed income. Additional products include HSAs, 529 education savings, annuities, fixed income, and trading platforms like Fidelity Trader+. The architecture reflects a platform-plus-modules approach where core brokerage and retirement infrastructure supports multiple specialized product lines for different investor segments.

Differentiator

Problem solved

Functional benefit

Brands

• Fidelity Charitable: Donor-advised charitable giving program
• NetBenefits
• Fidelity Crypto
• Fidelity Reserves Digital Fund
• Fidelity Youth Account
• Women Talk Money

Products and services

• Fidelity Brokerage

Quantifiable outcome

• $770 billion+ in target date assets demonstrates leadership in retirement plan management
• +2 more outcomes

Named customers4 records

Segments6 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability7 records

Feature4 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• BlackRockcoreStrategic or Co-development PartnerFidelity and BlackRock collaborate on tokenized money market funds, combining Fidelity's fund management expertise with BlackRock's Aladdin platform capabilities for institutional clients seeking digital asset exposure.
• Goldman SachscoreStrategic or Co-development PartnerGoldman Sachs participates in Fidelity's tokenized fund ecosystem, offering institutional clients access to tokenized money market funds through Goldman Sachs' distribution and settlement infrastructure.
• BNYcoreTechnology or IntegrationBNY Mellon provides custody and settlement services for Fidelity's tokenized fund infrastructure, enabling institutional-grade digital asset management and 24/7 transfer capabilities.
• NationwideminorStrategic or Co-development PartnerNationwide and Fidelity co-develop the Fidelity Freedom Lifetime target date fund series, combining Nationwide's insurance expertise with Fidelity's investment management for retirement-focused investors.
• New York LifeminorStrategic or Co-development PartnerNew York Life partners with Fidelity on the Fidelity Freedom Lifetime target date fund series, providing annuity and insurance products integrated with Fidelity's fund architecture.
• BloombergcoreTechnology or IntegrationBloomberg provides portfolio management software integration with Fidelity's advisor and institutional platforms, enabling seamless data exchange and analytics capabilities for wealth management clients.
• State StreetminorStrategic or Co-development PartnerState Street competes with Fidelity in stablecoin reserve management, as both institutions offer institutional digital asset custody and settlement services for corporate treasury applications.

Scale indicators8 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Bank of America (Merrill Lynch): Merrill Lynch competes with Fidelity Wealth Services in the high-net-worth advisory space and overlaps in workplace retirement plan administration (Merrill Retirement). As a broader banking platform, it offers integrated credit and banking services Fidelity does not.
• BlackRock: BlackRock is a broad incumbent competitor in asset management and is now a tokenization partner. It competes via iShares ETFs, the Aladdin platform, and increasingly in digital asset custody and tokenized funds (BUIDL), overlapping with Fidelity's institutional asset management and digital asset ambitions.
• State Street: State Street competes with Fidelity in institutional asset management (SSGA), custody, and increasingly in digital asset custody and stablecoin reserve services. The firms are direct competitors in tokenized fund infrastructure and ETF servicing.
• BNY Mellon: BNY competes with Fidelity as a custody and asset servicing giant, while also being a tokenization partner (BNY provides custody/settlement for Fidelity's tokenized fund infrastructure). Overlap is strong in institutional services and emerging in digital assets.

Direct peers

• Charles Schwab: Schwab is a direct competitor across self-directed brokerage, ETFs, and retirement accounts, with comparable commission-free trading and a similar workplace retirement business (Schwab Retirement Plan Services). The two firms compete intensely for retail investor wallet share.
• Raymond James Financial: Raymond James directly competes with Fidelity in financial advisor-supported wealth management and brokerage services for mass-affluent and high-net-worth clients, with comparable practice management and technology offerings for RIAs.
• Morgan Stanley Wealth Management: Morgan Stanley's wealth management division competes directly with Fidelity Wealth Services and Managed FidFolios in serving high-net-worth and ultra-high-net-worth clients with personalized advisory, brokerage, and alternative investment offerings.
• T. Rowe Price: T. Rowe Price directly competes with Fidelity in mutual funds, target-date retirement strategies, and institutional asset management. Both serve retail and institutional clients through proprietary fund families and workplace retirement platforms.
• Vanguard: Vanguard is the most direct peer to Fidelity's retail brokerage, mutual fund, and retirement business. Both compete head-to-head in zero-expense-ratio index funds, target-date funds, and workplace retirement plan administration, with Vanguard's mutual fund AUM exceeding $7T.
• Edward Jones: Edward Jones competes with Fidelity primarily in advisor-led wealth management for mass-affluent retail clients and in workplace retirement plan administration. Both target similar client segments through branch-based and digital advisory models.

Market position

Strengths5 records

Weaknesses3 records

Competitive moat8 records

Key risks6 records

Key highlights7 records

Customer concentration

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

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries6 records

Funding overview

Funding rounds

Investors

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

M&A

Investments7 records

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

Frequently asked questions about Fidelity Investments