Fidelity Investments reported today
that its new client assets in the second quarter more than doubled from
a year ago, to a total of $61.3 billion.
The company also said its total client assets increased 25%, its daily average commissionable trades rose 23% and its total client accounts increased 11% compared to second quarter 2004.
Total client assets at the end of the second quarter were $1.3 billion, nearly a $250 billion increase from a year earlier, according to the company.
Daily average commissionable trades in the quarter were up 23%, going from 199,229 in 2004 to 244,262. There were a total of 15.5 million client accounts at the end of the quarter, compared to 13.9 million a year ago, the company said.
New client assets were $61.3 billion, up 130% from second quarter 2004.
"Our strong second quarter and first half results were highlighted by significant gains in net new client assets largely driven by several institutional client conversions in our clearing business," Ellyn A. McColgan, president of Fidelity Brokerage Company, said in a written statement.