Fidelity Investments saw a 20% year-over-year bump in assets under administration in the second quarter and a 22% jump in discretionary assets, the firm announced..
Between the first and second quarters, assets under administration grew 3%, the firm said.
That puts Fidelity’s total AUA at $14.1 trillion and discretionary assets at $5.5 trillion. In addition, the firm said it saw a net 7% increase in individual customers to 51.5 million and a net 9% increase in customer accounts to 84.9 million.
Customer engagement was also up in the last year, the company reported, with a 10% increase in customer planning interactions, 11% increase in appointments, 15% increase in digital engagement, 68% increase in social media service interactions and a 34% increase in daily average trades.
“Fidelity has a long legacy of harnessing innovation to create value for our customers, developing new solutions to stay ahead of their distinct and evolving financial needs and customer experience expectations,” a spokesperson said.
Second-quarter business highlights included the launch of three actively managed liquid alternatives ETFs and six professionally managed equity and fixed-income separately managed accounts, the company said. The firm said it also expanded its relationship with Envestnet to better reach next-gen investors and launched the Growth Hub, a resource center for assisting advisors with their organic growth.