What You Need to Know
- Assets under management grew 35.4% to $3.9 trillion compared to the year-ago quarter.
- New account openings surged 156% to 4.1 million; almost 40% of them were opened by investors 35 or younger.
- Trade order volume was 1.7 times higher than the same period in 2020.
Fidelity reported strong growth in the first quarter of 2021.
Assets under management grew 35.4% to $3.9 trillion compared with the year-ago quarter. Assets under administration, which includes those under management, grew 42.6% to $10.4 trillion.
New account openings more than doubled (up 156%) to 4.1 million, and almost 40% of those accounts were opened by investors 35 years old or younger. Those account openings were up 223% from Q1 2020.
By the end of the first quarter, Fidelity accounts totaled 83.4 million, up 12.1% from the year-ago quarter, and they included 9.7 million accounts with Fidelity Institutional, which grew by 400,000.