Data and insights
2023 Annual Report
“Fidelity Investments had another year of strong financial and operating performance, enabled by our continued investments in the people and technology needed to deliver outstanding experiences to our growing customer base.”
Abigail P. Johnson, Chairman and Chief Executive Officer
Financial and operating results
REVENUE
$28.2 billion
Up 12% from 2022
OPERATING EXPENSE
$19.7 billion
Up 15% from 2022
OPERATING INCOME
$8.5 billion
Up 6% from 2022
ASSETS UNDER ADMINISTRATION
$12.6 trillion
Up 23% from 2022
NET ASSET FLOWS
$647.2 billion
Up 38% from 2022
By the numbers
Learn more about our research, engagement activity, and proxy voting for the period ended June 30, 2023.
We have a strong position to continue to invest in what is important to our customers so we can continue to evolve with their needs.
Maggie Serravalli,
Chief Administrative Officer
Customer and account growth
Fidelity’s unique combination of businesses helps drive customer growth and engagement, and we are now helping to strengthen the financial futures for nearly 50 million individuals.²
38.7 million
Total retail accounts
UP 3% FROM 2022
43.2 million
Total workplace plan participant accounts³
UP 6% FROM 2022
8.7 million
Total custody and clearing accounts⁴
UP 6% FROM 2022
Digital customer experience
In 2023, Fidelity continued to modernize our platforms and launch new tools to enhance digital experiences for our customers and clients.
New products and services
New solutions
More than 15,000 employers have enabled Goal Booster℠ to support their employees with payroll deduction accounts for emergency savings and other near-term goals.
New and enhanced investment options
We expanded our ETF lineup, now totaling 64 total ETFs and more than $51.7 billion in assets⁵, with six new active equity and six new thematic ETFs, among the most competitively-priced strategies in the industry.
Digital assets
We facilitated access to Fidelity Digital Assets® custody and trading services for bitcoin and ethereum to thousands of retail investors through Fidelity Crypto®⁶.
Our associates
We are committed to building and advancing a culture where associates of all backgrounds and job levels can have rewarding and enduring careers with us. We offer a variety of talent and development programs to help our associates further their professional education and create pathways for growth and opportunities.
Ranked #29 among LinkedIn’s Top Companies in the U.S.
Forbes
Ranked #6 Best Employer for Women
Forbes
Ranked among the United States’ Best Employers for Diversity
Ranked #19 among LinkedIn’s Top Companies in Ireland
Forbes
Ranked #8 among the Best Employers for New Grads
Zinnov
FMR India received the Great Place to Innovate award
Our communities
Fidelity is invested in enabling access to financial wellness and economic opportunity in the areas where we live, work, and serve. Our associates are central to this work, volunteering their time, leveraging their relationships, and deploying their skills to positively impact the communities.
More than 5,000 associates participated in hands-on community outreach for more than 160 projects as part of our new Fidelity Cares Month nationwide initiative.
We expanded our associate-driven YOUR CHOICE grants program, in which associates nominate and choose nonprofit organizations to receive funding and support from Fidelity, to India and Ireland.
Fidelity is investing $250 million over five years through Invest in My Education (ME)℠ to drive transformational change by combining student scholarships with ongoing support and mentorship for high school and college students in seven regions by the end of 2024.
Copyright 1998-2025 FMR LLC. All Rights Reserved.
¹ Includes all Fidelity investment products, such as mutual funds and managed accounts.
² Individual investors total includes 44.2 million customers who have direct relationships with Fidelity through retail, workplace, and the Health Care Group and 5.6 million customers who have indirect relationships, including customers served by advisors who have clearing and custody relationships with Fidelity Institutional Wealth Management Services.
³ Includes participant accounts within the Health Care Group.
⁴ Institutional clients who use Fidelity’s custody, clearing, institutional brokerage, and wealth management platforms.
⁵ Data is as of December 31, 2023.
⁶ Fidelity Crypto® is offered by Fidelity Digital Assets®. Investing involves risk, including risk of total loss. Crypto as an asset class is highly volatile, can become illiquid at any time, and is for investors with a high risk tolerance. Crypto may also be more susceptible to market manipulation than securities. Crypto is not insured by the Federal Deposit Insurance Corporation or the Securities Investor Protection Corporation. Investors in crypto do not benefit from the same regulatory protections applicable to registered securities. Fidelity Crypto® accounts and custody and trading of crypto in such accounts are provided by Fidelity Digital Asset Services, LLC, which is chartered as a limited purpose trust company by the New York State Department of Financial Services to engage in virtual currency business (NMLS ID 1773897). Brokerage services in support of securities trading are provided by Fidelity Brokerage Services LLC (“FBS”), and related custody services are provided by National Financial Services LLC (“NFS”), each a registered broker-dealer and member NYSE and SIPC. Neither FBS nor NFS offer crypto as a direct investment nor provide trading or custody services for such assets. Fidelity Crypto and Fidelity Digital Assets are registered service marks of FMR LLC.
Before investing, consider the funds’ investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.
Investing involves risk, including risk of total loss. Crypto as an asset class is highly volatile, can become illiquid at any time, and is for investors with a high risk tolerance. Crypto may also be more susceptible to market manipulation than securities. Crypto is not insured by the Federal Deposit Insurance Corporation or the Securities Investor Protection Corporation. Investors in crypto do not benefit from the same regulatory protections applicable to registered securities. Custody and trading of crypto are provided by Fidelity Digital Asset Services, LLC, a limited liability trust company chartered by the New York Department of Financial Services (NMLS ID 1773897). Brokerage services in support of securities trading are provided by Fidelity Brokerage Services LLC (“FBS”), and related custody services are provided by National Financial Services LLC (“NFS”), each a registered broker-dealer and member NYSE and SIPC. Neither FBS nor NFS offer crypto nor provide trading or custody services for such assets. Fidelity Crypto and Fidelity Digital Assets are service marks of FMR LLC.
The statements and opinions expressed within the articles found in 'Fidelity in the News' are those of the author. Fidelity Investments cannot guarantee the accuracy or completeness of any statements or data.
Views expressed are as of the date indicated, based on the information available at that time, and may change based on market or other conditions. Unless otherwise noted, the opinions provided are those of the speaker or author and not necessarily those of Fidelity Investments or its affiliates. Fidelity does not assume any duty to update any of the information.
Past performance is no guarantee of future results.
Diversification/asset allocation does not ensure a profit or guarantee against loss.
As with all your investments through Fidelity, you must make your own determination whether an investment in any particular security or securities is consistent with your investment objectives, risk tolerance, financial situation, and evaluation of the security. Fidelity is not recommending or endorsing investments by making them available to its customers.
Investment decisions should be based on an individual’s own goals, time horizon, and tolerance for risk.
Keep in mind that investing involves risk. The value of your investment will fluctuate over time and you may gain or lose money.
Stock markets are volatile and can decline significantly in response to adverse issuer, political, regulatory, market, or economic developments.
Foreign markets can be more volatile than U.S. markets due to increased risks of adverse issuer, political, market, or economic developments, all of which are magnified in emerging markets. These risks are particularly significant for investments that focus on a single country or region.
In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk, liquidity risk, call risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.
ETFs are subject to market fluctuation and the risks of their underlying investments. ETFs are subject to management fees and other expenses. Unlike mutual funds, ETF shares are bought and sold at market price, which may be higher or lower than their NAV, and are not individually redeemed from the fund.
Because of their narrow focus, sector funds tend to be more volatile than funds that diversify across many sectors and companies.
Fidelity does not provide legal or tax advice. The information herein is general in nature and should not be considered legal or tax advice. Consult an attorney or tax professional regarding your specific situation.
The trademarks and service marks appearing herein are the property of their respective owners.
Fidelity Brokerage Services LLC, Member NYSE, SIPC, 900 Salem Street, Smithfield, RI 02917
© 2025 FMR LLC. All rights reserved.
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