Fmr Co., Inc. is a large advisory firm based in Boston. It manages $918.88 billion of regulatory assets for 552 client accounts. It has been registered with the SEC as an adviser since 2001 and has operated in the jurisdictions of Colorado, Massachusetts, and Rhode Island.
Fmr Co. provides portfolio management for investment companies, portfolio management for pooled investment vehicles, and portfolio management for foreign and proprietary funds and accounts and other affiliated investment advisors. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.
The assets under management (AUM) of Fmr Co., Inc. is $918.88 billion, all of which is managed in discretionary accounts. The firm's AUM has grown by 53% since the beginning of its operation, and $44.23 billion of the total AUM is attributable to clients outside of the United States.
The advisory firm has several streams of revenue. Clients pay Fmr Co., Inc. for their services and products based on a percentage of assets under management and performance-based fees. Compensation based on assets under management promotes a long-term relationship between a client and the adviser and helps align mutual interests. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.
The firm provides services to investment companies and pooled investment vehicles. The largest group of clients of John J (Mi Only) Remondi is investment companies with 370 clients and $790.72 billion of assets under management. Among the 14 most similar advisory firms, Fmr Co. has the 4th highest percentage of investment companies out of all clients.
The amount of regulatory assets under management is $892.52 billion for 389 clients. 1% of the firm’s clients are foreign persons or businesses.
Fmr Co. also advises several private funds. Namely, seven other private funds.
The company employs 1,120 people that are either part- or full-time employees. 30 percent of the employees work as investment advisers or researchers. No employees are registered as investment adviser representatives with the state securities authorities.
There isn’t anyone with the role of looking for and bringing in new clients on behalf of the firm. The firm compensates employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.
John J (Mi Only) Remondi has been acting as President since 1 Jun 2007. Harley Jay Lank joined the executive team most recently as the Head Of High Income.
The principal office where Fmr Co., Inc. performs its advisory services is located at 245 Summer Street, Boston, MA 02210, which is also the mailing address of the firm. An additional office of the firm is in Smithfield, RI. It doesn’t run an office outside of the United States.
You can reach the main office by calling the phone number 617-563-7000 or by fax 603-864-2311. The normal business hours are 9:00 a.m. - 5:00 p.m. est on Monday - Friday. You can find more information about the New York firm at fidelity.com.