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August 06, 2015 at 09:22 AM
Fidelity announced retirement plan sales results on Thursday, noting new defined contribution retirement plan sales reached $35 billion in the first half of the year. Furthermore, commitments for 2016 totaled $21 billion.
Total workplace retirement plan assets under administration passed $1.5 trillion, up slightly from $1.4 trillion in the first half of 2014.
Fidelity said 2015 sales include plans of all sizes and represent nearly 800 employers with 700,000 employees.
“Our singular focus on delivering an outstanding customer experience has created new business opportunities for Fidelity, especially in the smaller end of the market where we won more than $8 billion in sales already this year,” Jim MacDonald, president of workplace investing for Fidelity Investments, said in a statement.
Fidelity said some of its largest clients, those with more than $100 billion in assets under administration, “extended their relationship” with the firm, including Delta Airlines, General Motors, Halliburton and Amway, among others.
