Fidelity Investments broke its sales records in the small- and mid-sized defined contribution plan market in 2013, adding $8.9 billion in new assets.
The company added more than 1,500 plans with $50 million in assets or less, an increase of 7 percent over the prior year’s sales. With the increase in plans came nearly 240,000 new participants.
The company chalks up its success in the small plan market to its educational workplace guidance programs and new technological offerings, like its iPad tablet app.
It also delivers dashboard analytics so employers understand how much retirement income their plan is designed to produce, how the plan is performing and what requires attention. It also helps employers and their advisors evaluate if their workforce is on track with saving and age-based equity allocation.
Fidelity Investments is one of the world’s largest providers of financial services, with assets under administration of $4.7 trillion, including managed assets of $2 trillion, as of Feb. 28, 2014.
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