Fidelity AUM 2024


Fidelity total assets under management (custody). Fidelity AUM: 2024 client assets and number of customers (user accounts).


Fidelity Assets Under Management (AUM)


Fidelity Investments has a long history of satisfying its customers, which is probably one reason it’s one of the biggest brokerage houses in the United States. The firm is the largest record keeper of 401(k) plans, and one of the largest providers of 403(b) plans for non-profit organizations. More than 24,000 companies trust Fidelity to provide its employees defined-contribution and defined-benefit plans. The broker also provides stock plan services.

The company’s operations generate very large assets in its coffers. In particular, Fidelity has the following impressive numbers:

Fidelity assets under administration $11.5 trillion
Fidelity total discretionary assets $4.9 trillion
Number of customers 49 million
Trades per day 3.1 million


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Number of Customers at Fidelity


Fidelity has about 49 million individual clients. Many of these investors make their own trading decisions.


Fidelity Assets Under Management


A large percentage of Fidelity’s business comes from retirement services. Over 60% of Fidelity mutual funds are in retirement accounts. Nearly $1.9 trillion is invested in the company’s mutual funds.

Despite its large size, Fidelity’s retirement operation is actually growing. Its 401(k) business saw healthy expansion, and the broker remains America’s biggest provider of IRA’s.

In addition to deep pockets, Fidelity also has a very large workforce. The company employs more than 57,000 people around the world, including 5,000 in Boston alone.


Fidelity Disadvantages


Despite Fidelity's many strengths, there are some issues with the broker that may cause some investors to go elsewhere. For example, the firm is charging $49.95 to buy non-NTF mutual funds. Compare that to $0 charged by JP Morgan, and $19.95 by Merrill Edge and Etrade.

Fidelity is charging commission on some products while Webull which is charging $0 for stock, option, ETF, and crypto transactions.

Fidelity's advanced desktop platform, Active Trader Pro, requires a very steep 36 trades minimum in a 12-month period. By contrast, Charles Schwab's platform thinkorswim is free for all clients and has no frequent trader requirement. Schwab's most advanced trading system, thinkorswim, requires no no account balance.

Fidelity requires a deposit of $0 to open a trading account. Vanguard, by comparison, has no such requirement. Firstrade and Merrill Edge customers can also open an account with no money down. Some investors may prefer to open an account first and try out the broker's trading technology before making a deposit.

Fidelity's selection of 11,679 mutual funds is smaller than Charles Schwab's fund list. The broker's customers can trade more than 13,000 funds. Fidelity's list of approximately 1,800 no-load, no-transaction-fee funds is smaller than Schwab's list of more than 3,100. Charles Schwab offers over 4,200 mutual funds that have neither load nor transaction fee. WellsTrade, the securities branch of Wells Fargo, offers more than 2,600.


fidelity assets under management


While Fidelity does have a nationwide network of branch locations for customers who want in-person service, some other firms actually maintain more offices. Fidelity has slightly more than 180 locations, while Charles Schwab has more than 450. Schwab has over 300. Merrill Edge has financial advisors located in many Bank of America locations throughout the United States. Fidelity is clearly at a disadvantage when it comes to brick-and-mortar service.

None of Fidelity's platforms have paper trading (Virtual trading) capability. The lack of this feature is a disappointment, since paper trading allows beginners to learn a software first before risking real money. Charles Schwab has virtual trading.

A wide range of securities can be traded at Fidelity, including options and fixed-income products. However, futures and forex are not available. Ally Invest provides currency trading, while Charles Schwab has both.

Although Fidelity's mobile app does have several nice features, the graphing capability is somewhat limited. The platform only has two technical studies available. By comparison, Charles Schwab has a mobile app that can display 400. Fidelity's mobile graphing cannot show dividends, earnings, or announcements. In today's mobile world, traders are right to expect more than this.

There isn't a community forum on the Fidelity website where traders can discuss market news and post questions for the firm's associates. Tastytrade and Charles Schwab investors do have this benefit.

Less than 30 technical studies are available on Fidelity's website charting. The software also has fewer graph styles that can be selected. Power E*Trade charting program, for example, has Heikin Ashi.

A nice financial service from Fidelity is its Full View, a software program that allows traders to see all their online financial accounts on one platform. However, this program is not accessible on the broker's mobile platform, and some users have complained the desktop interface is cumbersome.

While the Fidelity website does have a simple trade bar, it does not appear regularly at the bottom of the browser. Instead, the broker's trade bar appears on the left side of the browsing window after clicking on a trade button. It cannot display a chart. Merrill Edge's trade bar, by contrast, stays at the bottom of the monitor, can be hidden, and can display a chart, whose time scale can be adjusted. Some traders prefer this type of trading ticket.


Fidelity AUM Recap


While Fidelity customers have brought a few complaints against the firm, it continues to deliver solid brokerage services. Mutual fund investors can do especially well with Fidelity. Beginner investors should take a look at Firstrade. Bargain seekers will be pleased with Webull.


Updated on 1/22/2024.


About the Author
Arthur Chachuna is a professional personal finance blogger, and the owner of Brokerage-Review.com. He has been an avid investor for 25 years, and has a background in both applied math and programming.