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Charles Stein

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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...
FIDEILITY'S MONEY-MARKET assets grew to $629 billion as of Oct. 31. / BLOOMBERG NEWS FILE PHOTO/ JB REED

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 INVESTMENTS CEO Abigail Johnson said the company offered its four zero-expense index funds to attract new customers. / BLOOMBERG FILE PHOTO/ANDREW HARRER

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 INVESTMENTS INC. is trimming fees on the target-date index funds it sells to retirement plans. / BLOOMBERG FILE PHOTO/JB REED

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 INVESTMENTS has been said to have fired about 200 employees who were accused of abusing company benefits. / BLOOMBERG FILE PHOTO/ JB REED

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 INVESTMENTS is changing the way it charges wealth management customers for advice. / BLOOMBERG FILE PHOTO/JB REED

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 INVESTMENTS said operating income surged 54 percent in 2017. / BLOOMBERG FILE PHOTO/JB REED

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...
ABIGAIL P. JOHNSON will succeed her father, Edward C. "Ned" Johnson, as chairman of Fidelity Investments, taking full control of the money management giant, the Boston-based company announced. / COURTESY GREATER PROVIDENCE CHAMBER OF COMMERCE

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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