Fidelity Adds More Than $148 Billion to Workplace Benefits Platform in 2020, Representing Record Sales
Fidelity Investments, a leading workplace benefits provider and one of the largest, most diversified financial companies in the industry, added more than $148 billion in assets from new workplace savings and company stock plan clients in 2020.1 More than 1,200 new organizations have joined Fidelity’s platform to date in 2020, including Fortune 500 companies, tech start-ups, universities and nonprofits. With this year’s record sales numbers, Fidelity’s platform now includes 24,400 total workplace clients representing 32.2 million participant accounts and more than $2.5 trillion in client assets.
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“Our clients have faced unprecedented challenges due to the economic uncertainty in 2020”
Fidelity’s record sales across workplace savings and company stock plans were driven by several factors, including Fidelity’s ability to offer multiple workplace benefits, including health savings accounts, managed accounts, workplace giving programs, payroll solutions and student debt repayment programs, on a single, unified platform. More than 800 of Fidelity’s new clients are leveraging multiple workplace benefits, and the ability to offer an integrated benefit platform provides employers with increased flexibility to better manage their resources and improve efficiency.
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New clients also cited Fidelity’s continued investment in new products and technologies as a significant factor in their decision, including improved mobile capabilities, enhanced cybersecurity, expanded investment in cloud computing to improve access to data and analytics, and additional features to help employees understand and engage with the benefits available to them. Plan sponsors also noted the strength and stability of Fidelity’s platform, which is especially important during periods of economic uncertainty.
“Organizations of all sizes consider workplace benefit plans as an important tool in attracting and retaining top talent, as well as an important part of the overall well-being of their employees. As a result, they are extremely selective about the provider they choose to manage these plans,” said Kevin Barry, president, Workplace Investing, Fidelity Investments. “As part of our effort to be the industry’s most trusted benefits provider, we continue to invest in our technology infrastructure and focus on adding additional associates in order to continue to provide the exceptional levels of customer service our clients have come to expect from Fidelity.”
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