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Fidelity teams with Goldman Sachs as part of big push into alternative investments on behalf of RIAs

The Boston giant's resolute move is a 'blue-ocean' strategy that may give it an edge with advisors looking for a one-stop, one-statement approach to AI management

Author Lisa Shidler November 1, 2013 at 4:50 PM
Admin:
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Gary Gallagher: By no means do we consider this watered-down alternatives in any way. We think it's the most comprehensive of all of the custodians in business today.

Related Moves

Fidelity will hire 4,000 staff in first half -- a staggering number but a tapering off from 'unprecedented' rate in 2021-2022 that catapulted it to 68,000 employees

The $10.3 trillion giant explains its hiring -- in a layoff environment -- as an RIA-like goal, namely having the human bandwidth to develop 'lifetime' relationships with its 40 million investors

February 17, 2023 at 2:49 AM

Fidelity Investments loses Kathleen Murphy who largely caught up Fido to Schwab (near $4T) on the retail side by reversing net promoter scores

The 'no whining allowed' leader of the Boston giant's retail business, who oversaw $2 trillion in net new assets, was ready to exit but hung in through a year dominated by COVID-19 challenges

January 23, 2021 at 2:02 AM

Fidelity Institutional looks like a big TAMP after Mike Durbin removes last internal walls between products and advisors after 'meteoric' 2019 leap; two Fido RIA sales legends depart amid the shift

Rich Policastro and Tom Valverde are out after Fidelity Custody & Clearing assets leap to $2.6 trillion AUA, restructuring gets the credit -- and so restructuring gets extended.

March 13, 2020 at 10:36 PM

Jeff Mello is latest to join eMoney's talent exodus but CEO Ed O'Brien says it's healthy renewal at a firm that added several hundred people since Fidelity bought it

The ex-Goldman Sachs director of strategy and planning at eMoney joins a growing list of departures exacerbated, sources say, by Fidelity putting a wobbly performance reporting software project -- and staff -- on its plate

February 28, 2020 at 11:09 PM

See more related moves

Mentioned in this article:

Morningstar, Inc.
TAMP
Top Executive: Joe Mansueto




Fiduciary Advisor Advocate

Fiduciary Advisor Advocate

November 16, 2013 — 1:39 AM

Unbelievable- my entire view of Fidelity went right down the pooper. Understand that custodians are essentially utilities but really what kind of due diligence was done on…CAIS? Just me I guess but I would avoid investing in with anyone involved in something like that. Seriously Gary- this must be a mistake. Let’s hope your clients don’t have the same experience as FG’s client had.

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