Fidelity Investments
Type	Private company
Founded	Boston, USA
Headquarters	Boston, USA (FMR), Bermuda (FIL)
Key people	Edward "Ned" C. Johnson 3rd, Chairman of the group Will Danoff, Manager of Contrafund, Fidelity's largest fund, Harry Lange, Manager of Magellan Fund
Industry	Financial Services
Products	Mutual funds, Trading & Investing, Retirement & Planning
Revenue	$12.87 Billion USD (2006)
Net income	$1.18 Billion USD (2006)
Employees	41 200 (2007)
Website	fidelity.com (FMR) fidelity-international.com (FIL)

Fidelity Investments is a group of privately held companies in the financial services industry. It is made up by two independent but closely cooperating companies, Fidelity Management and Research Corporation (FMR Co.), founded in 1946 and serving the North American market, and Fidelity International Limited (FIL), spun off in 1969 to provide investment products and services to clients outside the Americas. Fidelity Investments includes a large family of mutual funds, their distributors and investment advisors, and a retail brokerage, as well as unrelated businesses. Image File history File links Logo_fid. ... A private company is a company that is independently owned. ... Nickname: Location in Massachusetts, USA Coordinates: , Country United States State Massachusetts County Suffolk County Settled 1630 Incorporated (city) 1822 Government  - Mayor Thomas M. Menino (D) Area  - City  89. ... Nickname: Location in Massachusetts, USA Coordinates: , Country United States State Massachusetts County Suffolk County Settled 1630 Incorporated (city) 1822 Government  - Mayor Thomas M. Menino (D) Area  - City  89. ... Edward, along with daughter Abigail Johnson, runs Fidelity Investments. ... // Harry Lange is a self made man. ... Fidelity Magellan Fund (FMAGX) The Magellan fund is perhaps the world’s best known actively managed mutual fund. ... Financial services is a term used to refer to the services provided by the finance industry. ... A mutual fund is a form of collective investments that pools money from many investors and invests their money in stocks, bonds, short-term money market instruments, and/or other securities. ... For the tax agency in the United Kingdom of the same name, see HM Revenue and Customs. ... Image File history File links No higher resolution available. ... ISO 4217 Code USD User(s) the United States, the British Indian Ocean Territory,[1] the British Virgin Islands, East Timor, Ecuador, El Salvador, the Marshall Islands, Micronesia, Palau, Panama, Caicos Islands, and the insular areas of the United States Inflation 2. ... Year 2006 (MMVI) was a common year starting on Sunday (link displays full 2006 calendar) of the Gregorian calendar. ... Net income is equal to the income that a firm has after subtracting costs and expenses from the total revenue. ... Image File history File links No higher resolution available. ... ISO 4217 Code USD User(s) the United States, the British Indian Ocean Territory,[1] the British Virgin Islands, East Timor, Ecuador, El Salvador, the Marshall Islands, Micronesia, Palau, Panama, Caicos Islands, and the insular areas of the United States Inflation 2. ... Year 2006 (MMVI) was a common year starting on Sunday (link displays full 2006 calendar) of the Gregorian calendar. ... For the album by the Kaiser Chiefs see Employment (album) Employment is a contract between two parties, one being the employer and the other being the employee. ... Year 2007 (MMVII) is the current year, a common year starting on Monday of the Gregorian calendar and the AD/CE era. ... A website (alternatively, Web site or web site) is a collection of Web pages, images, videos and other digital assets that is hosted on one or several Web server(s), usually accessible via the Internet, cell phone or a LAN. A Web page is a document, typically written in HTML... A privately-held corporation is one whose ownership shares are not publicly traded. ... Financial services is a term used to refer to the services provided by the finance industry. ... A mutual fund is a form of collective investments that pools money from many investors and invests their money in stocks, bonds, short-term money market instruments, and/or other securities. ... A Stock broker sells or buys stock on behalf of a customer. ...

Mutual funds and stock brokerage

Fidelity is a privately held company founded by Edward C. Johnson 2nd in 1949 and still controlled by the Johnson Family. Fidelity Management & Research Company, the US investment management division of Fidelity Investments, acts as the investment adviser to Fidelity's family of mutual funds. FMR Company has three fund divisions: Equity (headquartered in Boston, Massachusetts), High-Income (Boston) and Fixed-Income (Merrimack, New Hampshire). Actual day-to-day management of these funds is subcontracted by that company to one or more of its subsidiaries. The company's subsidiaries serve as distributors and transfer agents to the entire Fidelity fund family. Nickname: Location in Massachusetts, USA Coordinates: , Country United States State Massachusetts County Suffolk County Settled 1630 Incorporated (city) 1822 Government  - Mayor Thomas M. Menino (D) Area  - City  89. ... Next to the Breezeway at Merrimack Town Hall Merrimack is a town located in Hillsborough County, New Hampshire. ... In business, a subsidiary is a company controlled by another company or corporation. ...

FMR serves more than 21 million investors through individual and institutional accounts, with more than 300 different funds. Revenues in 2005 were $11.1 billion, up 10 percent compared to 2004. Assets under management rose nine percent to $1.2 trillion at the end of 2005. Currently, FESCo holds almost $3 trillion in managed assets.

The company's largest mutual fund is Contrafund, which has more than $69 billion in assets, making it the largest single-manager fund in the US. The current manager of Contrafund is Will Danoff. Magellan Fund is the second largest fund, with $45 billion in assets. Its current manager is Harry Lange, who previously managed the Fidelity Capital Appreciation Fund. The Magellan Fund was for many years the largest in the United States. It was run by Ned Johnson (May 2, 1963 to Dec. 31, 1971) and Peter Lynch (May 31, 1977 to May 31, 1990). Fidelity Magellan Fund (FMAGX) The Magellan fund is perhaps the world’s best known actively managed mutual fund. ... // Harry Lange is a self made man. ... Fidelity Magellan Fund (FMAGX) The Magellan fund is perhaps the world’s best known actively managed mutual fund. ... Year 1963 (MCMLXIII) was a common year starting on Tuesday (link will display full calendar) of the Gregorian calendar. ... Year 1971 (MCMLXXI) was a common year starting on Friday (link will display full calendar) of the 1971 Gregorian calendar. ... Peter Lynch (born January 19, 1944) is a successful Wall Street stock investor whose record ranks him as one of the best stock-pickers in the world. ... Also: 1977 (album) by Ash. ... Year 1990 (MCMXC) was a common year starting on Monday (link displays the 1990 Gregorian calendar). ...

Fidelity Investments also operates a major online discount brokerage and has investor centers in about 100 cities throughout the US and Canada, as well in Europe and Asia.

Benefits outsourcing

In addition to its mutual fund and brokerage businesses, Fidelity also has a strong presence in the HR and benefits outsourcing business. Fidelity Employer Services Company(FESCO) is the largest provider of 401(k) retirement plan services in the country. Other services provided include pension administration, health & welfare administration, as well as payroll and other HR record-keeping services.

Other businesses

Fidelity Investments also owns many unrelated businesses, including a charter motor coach service, a luxury hotel, and a temporary employment agency. It formerly owned Community Newspaper Company, the largest chain of newspapers in suburban Boston, sold to the Boston Herald and now owned by GateHouse Media. It recently acquired a large stake in a Japanese Telecom Company which illustrates Fidelity's strategy of diversifying into other sectors. A Go North East bus parked in a lay-by in Tyne and Wear, England. ... An employment agency is a company that matches workers to open jobs. ... Community Newspaper Company, a subsidiary of GateHouse Media, is a newspaper publisher in eastern Massachusetts. ... Nickname: Location in Massachusetts, USA Coordinates: , Country United States State Massachusetts County Suffolk County Settled 1630 Incorporated (city) 1822 Government  - Mayor Thomas M. Menino (D) Area  - City  89. ... The Boston Herald is a tabloid newspaper (not to be confused with tabloid press periodicals), the smaller of the two big dailies in Boston, Massachusetts, with a daily circulation of 230,543 in September 2005. ... GateHouse Media is a U.S. newspaper publisher, headquartered in Fairport, New York and owning daily, weekly and specialty newspapers, most with circulations lower than 20,000, in several U.S. states. ...

One sector in which the company has heavily invested is in commercial lumber and building materials. This new business has been developed under the Pro-Build Holdings company brand, which is a wholly-owned subsidiary of Fidelity Capital.

Pro-Build Holdings currently operates more than 500 lumber and building product distribution, manufacturing and assembly centers throughout the U.S., operating under several regional brands, including Hope Lumber, United Building Centers, Spenard Builders Supply, Lumbermens, Home Lumber Company, Dixieline Lumber Company, Parker Lumber Company, F. E. Wheaton & Company, Strober Building Supply, U.S. Components, Lanoga Corporation and the Contractor Yard. Pro-Build has more than 16,000 employees with 2006 revenues in excess of $6 billion.

NASD troubles

US brokerages regulator NASD fined four FMR-affiliated broker-dealers $3.75 million for alleged registration, supervision and e-mail retention violations in February 2007. The broker-dealers settled without admitting or denying the charges. NASD executive office on K Street in downtown Washington, D.C. NASD, Inc. ...

Fidelity Brokerage was ordered to pay $2 million to settle charges that employees altered and destroyed documents in 21 of its 88 branch offices from January 2001 to July 2002. Fidelity has internal inspections every year to make sure it is complying with federal regulations. The Securities and Exchange Commission accused that Fidelity management pressured branch employees to have perfect inspections and gave advance notice of the inspections and that at least 62 employees destroyed or altered potentially improper documents maintained at branch offices including new account applications, letters of authorization and variable annuity forms.

Ownership and operations

The founding Johnson family controls most of Fidelity. Edward "Ned" C. Johnson 3rd is chairman of the group. His daughter, Abigail Johnson, was once the largest single shareholder with about 25%, but in October 2005, it was reported that she had sold a "significant" portion of her shares to family trusts, and that there are doubts as to whether she is still in line to succeed her father. [2] Edward, along with daughter Abigail Johnson, runs Fidelity Investments. ... Abigail Johnson (born January 7, 1962) is an American financial businessperson. ... A shareholder or stockholder is an individual or company (including a corporation) that legally owns one or more shares of stock in a joint stock company. ...

The FMR mutual funds are organized as Massachusetts business trusts tied to the lifetime of the Johnsons. Some of Fidelity's best known fund managers also own a share in the company, most notably Peter Lynch. A Massachusetts business trust or MBT is a legal trust set up for the purposes of business in the state of Massachusetts. ... Peter Lynch (born January 19, 1944) is a successful Wall Street stock investor whose record ranks him as one of the best stock-pickers in the world. ...

Revenue in 2003 were US$9.2 billion, followed by US$10.5 billion in 2004. As of 2007, Fidelity had 47,000 employees. Year 2003 (MMIII) was a common year starting on Wednesday (link displays 2003 calendar) of the Gregorian calendar. ... Year 2004 (MMIV) was a leap year starting on Thursday of the Gregorian calendar. ...

FMR's corporate headquarters are located in Boston, Massachusetts, with the largest U.S. operations located in Marlborough, Massachusetts, Merrimack, New Hampshire, Smithfield, Rhode Island, Westlake, Texas, Covington, Kentucky, North Carolina, Ohio, and Utah. It also has offices in Canada in Toronto, Montreal, Calgary and Vancouver. (In 2007, Fidelity Canada was named one of Canada's Top 100 Employers, as published in Maclean's magazine, the only mutual fund management company to receive this honour.^[1]) As of 2006 Fidelity is in the process of opening a large site in Jacksonville, Florida, to serve as a customer service center similar in size to its New Hampshire site. Nickname: Location in Massachusetts, USA Coordinates: , Country United States State Massachusetts County Suffolk County Settled 1630 Incorporated (city) 1822 Government  - Mayor Thomas M. Menino (D) Area  - City  89. ... Official language(s) English Capital Boston Largest city Boston Area  Ranked 44th  - Total 10,555 sq mi (27,360 km²)  - Width 183 miles (295 km)  - Length 113 miles (182 km)  - % water 13. ... Official language(s) English Capital Concord Largest city Manchester Area  Ranked 46th  - Total 9,359 sq mi (24,239 km²)  - Width 68 miles (110 km)  - Length 190 miles (305 km)  - % water 3. ... “RI” redirects here. ... Official language(s) No official language See languages of Texas Capital Austin Largest city Houston Largest metro area Dallas–Fort Worth Metroplex Area  Ranked 2nd  - Total 261,797 sq mi (678,051 km²)  - Width 773 miles (1,244 km)  - Length 790 miles (1,270 km)  - % water 2. ... Official language(s) English[1] Capital Frankfort Largest city Louisville Area  Ranked 37th  - Total 40,444 sq mi (104,749 km²)  - Width 140 miles (225 km)  - Length 379 miles (610 km)  - % water 1. ... Official language(s) English Capital Raleigh Largest city Charlotte Area  Ranked 28th  - Total 53,865 sq mi (139,509 km²)  - Width 150 miles (240 km)  - Length 560[1] miles (901 km)  - % water 9. ... Official language(s) None Capital Columbus Largest city Columbus Largest metro area Cleveland Area  Ranked 34th  - Total 44,825 sq mi (116,096 km²)  - Width 220 miles (355 km)  - Length 220 miles (355 km)  - % water 8. ... This article is about the U.S. state. ... Nickname: Motto: Concordia Salus (well-being through harmony) Coordinates: , Country Canada Province Quebec Founded 1642 Established 1832 Government  - Mayor Gérald Tremblay Area [1][2][3]  - City 365. ... Nickname: Motto: Onward Location of Calgary in Alberta Coordinates: , Country  Canada Province  Alberta Region Calgary Region Census division 6 Established 1875 Incorporated 1884 (town)   1894 (city) Government [1]  - Mayor Dave Bronconnier (Past mayors)  - Governing body Calgary City Council  - Manager Owen A. Tobert  - MPs List of MPs Diane Ablonczy Rob Anders... Motto: By Sea, Land, and Air We Prosper Location of Vancouver within the Greater Vancouver Regional District in British Columbia, Canada Coordinates: , Country  Canada Province  British Columbia Region Lower Mainland Regional District Greater Vancouver Incorporated 1886 Government  - Mayor Sam Sullivan (NPA)  - City Council List of Councilors Suzanne Anton (NPA) Peter... Canadas Top 100 Employers is an annual competition that recognizes the best places in Canada to work. ... A cover of the Canadian magazine Macleans. ... Nickname: Motto: Where Florida Begins Location in the state of Florida Coordinates: , Country United States State Florida County Duval Government  - Mayor John Peyton (R) Area  - City  885 sq mi (2,264. ...

FIL's offices include asset management companies in 10 locations: London, Luxembourg, Frankfurt, Paris, Tokyo, Hong Kong, Bombay, Seoul, Singapore and Sydney, and an extensive network of offices in 23 countries, employing more than 4,000 people. This article is about the capital of England and the United Kingdom. ... For other uses, see Frankfurt (disambiguation). ... City flag City coat of arms Motto: Fluctuat nec mergitur (Latin: Tossed by the waves, she does not sink) The Eiffel Tower in Paris, as seen from the esplanade du Trocadéro. ...   , literally Eastern capital) is a unique subnational administrative region of Japan with characteristics of both a prefecture and a city. ... This article or section should be merged with Mumbai Mumbai (previously known as Bombay) is the worlds most populous conurbation, and is the sixth most populous agglomeration in the world. ... Seoul (서울)   [] is the capital of South Korea and is located on the Han River in the countrys northwest. ... The Sydney Opera House on Sydney Harbour Sydney (pronounced ) is the most populous city in Australia, with a metropolitan area population of approximately 4. ...

Innovative marketing

Fidelity has experimented with innovative marketing techniques directed to the aging baby boomers, recently releasing Never Stop Doing What You Love, a not-for-resale compilation of songs by Paul McCartney, created for Fidelity's employees and clients. The ex-Beatle became the firm's new spokesman in 2005 in a campaign entitled "This Is Paul." On the day of the disc's release, company employees were treated to a special recorded message by Paul himself informing them that "Fidelity and [he] have a lot in common" and urging them to "never stop doing what you love".^[2] Never Stop Doing What You Love is a not-for-resale compilation of various Paul McCartney and Wings songs created for the employees and clients of Fidelity Investments, a company in the financial services industry. ... Sir James Paul McCartney, MBE (born 18 June 1942) is an Academy Award- and Grammy Award-winning English singer, songwriter and multi-instrumentalist who first gained worldwide fame as one of the founding members of The Beatles. ... A spokesperson (person could be replaced with the gender of the person), or spokesmodel is a person who speaks on behalf of others, but is understood not to be necessarily part of the others (e. ...

Competitors

• T. Rowe Price
• The Charles Schwab Corporation
• Merrill Lynch
• Linsco/Private Ledger
• The Vanguard Group
• Ameriprise Financial, Inc.
• American Century Investments
• E*TRADE
• Scottrade
• Zecco
• Fidelity Investments

T. Rowe Price (NASDAQ: TROW is an independent global investment management firm and mutual fund manager based in Baltimore, Maryland. ... Categories: Companies traded on NYSE | Stub | Fortune 500 companies | Companies based in California ... Merrill Lynch & Co. ... Linsco/Private Ledger (LPL Financial Services) has become one of the largest organizations of independent, fee-only financial advisors. ... Vanguard is an American investment management company that offers mutual funds and other financial products and services to individual and institutional investors in the United States and abroad. ... Ameriprise Financial, Inc. ... American Century Investments is a privately-held investment management firm. ... E*TRADE NYSE: ET is a financial services company based in New York City. ... Scottrade is a privately owned discount retail brokerage firm headquartered in St. ...

See also

• List of mutual-fund families

The following is a limited list of mutual-fund families. ...

References

1. ^ Reasons for Selection, 2007 Canada's Top 100 Employers.
2. ^ Jenn Abelson, Brand on the run: Struggling Fidelity turns to ex-Beatle to lure boomers." Boston Globe, September 8, 2005, [1], accessed on August 16, 2006.

• "Profit at Fidelity rockets 20% in 2005". (Mar. 3, 2006). Boston Globe.
• "Fidelity Reports Lower Net Income for 2006". (Feb. 16, 2007). Boston Globe.

External links

• US corporate website (FMR)
• International corporate website (FIL)
• US corporate retirement website
• Fidelity Investor website
• Fidelity Funds Profile
• Fidelity Select Fundranker investment newsletter
• Yahoo! - FMR Corporation Company Profile at Yahoo!
• Fidelity Hires Hedge Fund Pro, October 24, 2005
• Fidelity and Genocide in Dollars & Sense magazine, accessed May 30, 2007