| Fidelity launches new tool for "breakaway brokers" |
| News - Financial News |
|
--(www.FinancialNewsUSA.com)-- 11/19/2009 - Financial industry news provided by Financial News USA. Fidelity Investments has introduced a service to help retail brokers determine how profitable it would be for them to leave their brokerage house and run solo. The tool which is a online calculator of sorts is another revenue stream for Fidelity. The new service is called Transition Solutions and it calculates the income and expenses for a broker running his or her own firm over a 10-year period, based on the most common business models for independent investment advisors. Fidelity is looking for ways to maximize profits in its support services to the independent brokers segment in midst of big time mergers and acquisitions like Morgan Stanley's (NYSE:MS) new Smith Barney joint venture with Citigroup Inc (NYSE:C) and Merrill Lynch's purchase by Bank of America Corp (NYSE:BAC) The Boston-based investment management firm has recruited 170 brokers to its independent advisor services through the first nine months of this year, it said, including Wayne, Pennsylvania-based Stillwater Capital Advisors, with $325 million in assets under management. Fidelity is one of the largest players in providing services to these brokers. The 3,500 independent advisors it supports oversee $370 billion in client assets. About Financial News USA Financial News USA is a Next Generation Financial Communications firm focused on the distribution of market moving news. Financial News USA has developed leading edge e-publishing tools including programming proprietary RSS feeds and enabling open source press release publishing across its network. Financial News USA has been aggressively expanding its news distribution network by targeting direct feeds to financial news and data providers such as FinancialContent, Yahoo (NASDAQ: YHOO), among others. Financial News USA offers a free news feed available online (www.financialnewsusa.com) to websites and financial services looking for content and for individual investors looking to stay informed on the financial markets. Financial News USA and its affiliates charge each client cash for news distribution and may take an equity position in the companies mentioned herein, please visit the disclaimer at www.financialnewsusa.com. 
|