Products March 5, 2002

Fido to Offer Online Account Aggregation

May 3, 2002 (PLANSPONSOR.com) - Participants in retirement plans at Fidelity Investments may soon be able to monitor all of their investments from one Web site - regardless of the mutual fund, brokerage, or bank in which the money is deposited.

Reported by

Fred Schneyer

Fidelity officials said they planned to offer the Full View feature – gathering data about all of a participant’s accounts – to plan sponsors starting in May, and for it to be widely available to workplace investors later this year.

If the employer opts for the new plan option, Fidelity said in a press release, participants would be able to consolidate online data from more than 2,100 financial institutions.

Automatic Account Updates

Fidelity said the Full View feature automatically updates financial data, which the investment company said would allow participants a better chance of implementing investment strategies that took into account their entire financial picture.

According to the press release, Fidelity participants used to have to manually type in other account data into Fidelity PortfolioPlanner, the company’s financial planning tool, and then update the data each time they reviewed their plan’s progress.

Fidelity Investments has assets in custody of $1.5 trillion, including managed assets of $887 billion. It offers investment management, retirement, brokerage and shareholder services to 16 million individuals and institutions, as well as through 5,500 financial intermediaries.