Fidelity has reported a 13% increase in operating income last year as the rally in equities boosted assets. Earnings, excluding costs such as interest and taxes, increased to $2.6 billion from $2.3 billion in 2012, the firm announced in its annual report to shareholders. Revenue climbed 7.9%, to $13.6 billion.
Assets under management rose 15% to a record $1.94 trillion, boosted by a 30% rally for the S&P 500 Index of U.S. stocks. Assets under administration, which includes the money Fidelity oversees as a record keeper for retirement plans and for independent financial advisers, jumped 19% to $4.62 trillion. Clients added $126.9 billion to administered assets.
For more information about Fidelity’s value-adds for advisors, visit their NAPA Partner Corner page.
