Fidelity Assets Reach $15T in Third Quarter

News November 11, 2024 at 03:59 PM
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Fidelity Investments posted significant growth in assets, trading and client planning sessions for the third quarter.

Assets under administration reached $15 trillion for the period ended Sept. 30, growing 30% from $11.5 trillion a year earlier, the financial services giant announced recently.

Discretionary assets, which include all Fidelity investment products like mutual funds and managed accounts, grew by 31% to $5.8 trillion from $4.4 trillion a year earlier, according to Fidelity.

Daily average trades in the third quarter rose 35% year over year to 3.5 million.

"The economics of the financial industry continue to reward efficiency and demand faster speed to market,” Fidelity Chairman and CEO Abigail Johnson said in a statement.

“We view these challenges as energizing opportunities to harness the scale of Fidelity’s business to offer a broad range of digital tools, education, product choices and personalized experiences,” she said.

Fidelity noted it expanded its digital offering for advisors and individuals in the quarter by introducing its Fidelity Ethereum Fund (FETH) single-asset crypto exchange-traded fund for investors with high risk tolerance.

Fidelity’s live or digital planning interactions with wealth, brokerage or workplace investing customers climbed 11% year over year to 7.1 million, the company reported.

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