Charles Stein
Shift from active to passive approaches tipping point in 2019
BOSTON – A line between active and passive funds is set to be crossed next year.
When it comes to mutual funds and exchange-traded funds...
Fidelity widens its lead in cash business by adding $50B
NEW YORK - Fidelity Investments is dominating a business that is thriving even as stocks and bonds struggle.
Fidelity’s money-market assets grew to $629 billion as...
Fidelity CEO says no-fee lineup is aimed at new customers
NEW YORK - Fidelity Investments CEO Abigail Johnson said the firm’s decision to launch a series of no-fee mutual funds had a simple rationale: bring...
Fidelity cuts fees on target-date funds as competition heats up
NEW YORK - Fidelity Investments Inc., which has been cutting prices to compete with low-cost rivals such as Vanguard Group and Charles Schwab Corp., is...
Fidelity is said to fire about 200 workers for abusing benefit
NEW YORK - Fidelity Investments has fired about 200 employees who were accused of abusing company benefits, according to a person familiar with the matter.
Fidelity...
Fidelity is changing the way it charges for financial advice
NEW YORK - Fidelity Investments is changing the way it charges wealth management customers for advice, based on the amount they have invested with...
Fidelity’s income rises 54% even as active outflows persist
NEW YORK - Fidelity Investments said operating income surged 54 percent last year even as investors pulled money from its actively-managed stock mutual funds.
The...
Fidelity says Abigail Johnson to succeed father as chairman
BOSTON - Abigail P. Johnson is taking full control of Fidelity Investments as the money management giant faces intense competition for assets and clients...
Fidelity investing head Ronald O’Hanley to leave in February
BOSTON – Fidelity Investments said Ronald P. O’Hanley, the firm’s head of asset management since 2010, will leave at the end of February, without...
Fidelity names Feingold to succeed Lange at Magellan Fund
BOSTON - Fidelity Investments named Jeffrey S. Feingold to run the $17.4 billion Magellan Fund, replacing Harry Lange who oversaw a two-thirds decline in...
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