Fidelity reports 2014 first half sales, retention figures

By BenefitsPro


By Marlene Satter

Fidelity Investments reported that its sales and commitments for the first half of 2014 totaled $37.2 billion in assets under administration, keeping it in its position as the top performer in the industry. It also retained 99 percent of defined contribution business for the same period.

With $1.4 trillion in defined contribution assets under administration, Fidelity increased the number of new client plans by 1,093; those new plans added 661,000 participants and were from companies of all sizes. Many of the companies, the firm reported, were looking for a single provider of additional benefits offerings such as workplace managed accounts, stock plan services and health savings accounts.

The new business, some coming through advisors and some directly, came from all segments of the market, including tax-exempt and not-for-profit, and included firms of all sizes, from one with as few as 29 participants to some clocking in with thousands of participants.

In a statement, Jim MacDonald, president, Workplace Investing, Fidelity Investments, credited the firm’s focus on “service and innovative products that provide better results for both plan sponsors and their participants.”

Among the improvements and services that Fidelity highlighted as benefiting its clients is Executive Insights, a business analytics dashboard to help employers track areas that might need attention in the company plan and stay abreast of its performance.

Easy Enroll, for employees, uses behavioral science in a three-step process to simplify the mechanics of plan enrollment. It guides employees through the selection process for a rate of savings and an appropriate allocation of assets for age and risk tolerance, as well as providing an election for an annual increase in contributions.

See also:

Fidelity finds millions of ‘unengaged’ 401(k) account holders
Fidelity hits best-ever sales in small- to mid-sized DC plan market

Originally published on