Fidelity Investments

The 'Fidelity Fund' transitioned into Fidelity Investments under Edward C. Johnson II in May 1930, during the Great Depression. It was the only approved fund due to widespread bank failures.

Fidelity Management & Research Company was founded to act as the investment adviser to Fidelity Fund, with Edward C. Johnson 2d serving as president.

Fidelity Investments, formerly known as Fidelity Management & Research (FMR), was established in 1946 in Boston, Massachusetts. It has grown to become one of the largest asset managers in the world.

In 1957, Edward C. (Ned) Johnson 3d became part of Fidelity as a research analyst, contributing to the company's research and investment strategies.

In 1958, Fidelity introduced Trend and Capital funds, pioneering aggressively managed equity funds in the industry.

In 1962, Fidelity Investments established the Magellan Fund, which later became the largest mutual fund in the world.

In 1965, Edward C. Johnson 2d and Edward C. Johnson 3d founded the Fidelity Foundation, demonstrating the firm's dedication to supporting the communities served by Fidelity.

In 1969, Fidelity International Limited was established in Bermuda to manage mutual funds exclusively for overseas investors. Additionally, a research office was opened in Japan.

In 1972, Ned Johnson succeeded his father as president of Fidelity Investments, taking over during a challenging market period.

In 1974, Fidelity Investments established Fidelity Daily Income Trust (FIDIT), the first money market fund to offer check writing, revolutionizing the industry.

In 1977, Fidelity introduced 403(b) plans for government, nonprofit organizations, and educational institutions.

In 1978, Fidelity established the National Financial Services Corporation to provide broker-dealers with cutting-edge clearing and execution products.

In 1981, Fidelity started offering 401(k) products and services to plans using its mutual fund product line.

In 1982, Fidelity opened its first street-level Investor Center in Boston, providing customers with personal service, free information, and investment guidance.

By 1986, Fidelity had 2,800 employees, managed 104 mutual funds, and had $50 billion in assets under management.

Fidelity introduced Portfolio Advisory Services (PAS) to offer investors discretionary investment management, asset allocation, and portfolio rebalancing.

The Fidelity Charitable Gift Fund was established to provide customers with easy and tax-advantaged ways to make charitable donations.

Fidelity Contrafund, managed by William Danoff since 1990, is the company's largest equity mutual fund with $107.4 billion in assets, making it the largest non-indexed fund in the U.S.

Fidelity becomes a pioneer in the Internet space by being the first mutual fund company to establish a home page, showcasing its forward-thinking approach towards technology and customer engagement.

In 1997, Robert Pozen was appointed as the CEO of Fidelity Investments, bringing new leadership to the company.

FMR LLC was established in 1998.

Fidelity launched the Retirement Income Advantage service, providing comprehensive financial planning and management solutions for investors during retirement.

In 2003, Fidelity Investments launched its first ETF, the Fidelity Nasdaq Composite Index Tracking Stock Fund (ONEQ), expanding its investment offerings.

In 2004, Fidelity Brokerage paid $2 million to settle charges by the U.S. Securities and Exchange Commission for employees altering and destroying documents in multiple branch offices between 2001 and 2002.

In May 2007, NASD fined two Fidelity broker-dealers $400,000 for distributing misleading sales literature related to Fidelity's Destiny I and II Systematic Investment Plans, primarily targeting U.S. military personnel.

Fidelity achieved ISO 27001 certification for data security, recognized as 'world class' by the International Organization for Standards in Geneva, Switzerland.

Fidelity initiates the Patent Program to safeguard its inventors and innovative ideas by applying for formal patents.

Fidelity launches the Next Generation Contact Center program to offer customers a seamless and engaging experience across all interaction channels.

In 2014, Abigail Johnson became president and CEO of Fidelity Investments (FMR) and chairman of Fidelity International (FIL).

Fidelity Charitable, known as 'an early adopter' in philanthropy and digital assets, starts accepting bitcoin donations based on donor preferences.

F-Prime Capital Partners, managed by key leaders of Fidelity Investments, competes directly with Fidelity Investments public funds by making early investments at lower prices, leading to conflicts of interest and lower returns for Fidelity fund shareholders.

In 2017, Abby Johnson discussed the potential benefits of blockchain technology at Consensus 2017, a significant blockchain conference.

In 2018, Fidelity Investments launched a new line of zero-expense-ratio mutual funds for individual investors, including the ZERO Total Market Index Fund and ZERO International Index Fund, which quickly amassed over $1 billion in assets. Subsequently, two more zero-expense funds were introduced, collectively providing market exposure to a significant portion of industry index assets.

In October 2019, Fidelity launched Fidelity Digital Asset Services to handle cryptocurrency custody and trade execution for institutional investors.

At the end of January 2020, Fidelity launched 'Stocks By The Slice', a program aimed at investors wishing to capitalize on fractional-share ownership and micro-investing.

In March 2021, Fidelity filed for introducing a Bitcoin ETF with the SEC.

In August 2021, Fidelity announced plans to hire 16,000 employees in 2021, including 9,000 during the second half of the year.

In April 2022, Fidelity Investments announced the inclusion of Bitcoin as an investment option in its 401(k) plans by mid-year, becoming the first major 401(k) provider to offer cryptocurrency for retirement savers.

Fidelity has recently introduced eleven new 'disruption' funds, including ETFs focused on automation, communications, finance, medicine, technology, and disruptors. These funds aim to capitalize on emerging trends and innovative industries.

On January 11, 2024, Fidelity's Spot Bitcoin exchange-traded fund (ETF) was granted approval and officially launched, marking a significant milestone in the cryptocurrency investment market.

Fidelity introduced Fidelity ZERO Total Market Index Fund, Fidelity ZERO International Index Fund, Fidelity ZERO Large Cap Index Fund, and Fidelity ZERO Extended Market Index Fund for individual retail investors.