The Fidelity of today is a long way from the small mutual fund company we were nearly 70 years ago. As a diversified financial services company, we carefully assess our strategy each year to ensure we are developing solutions, technology and experience at the scale necessary to meet the changing needs of the marketplace.
Whether seeking the best talent to research new investment trends and emerging markets or establishing our own technology and research labs staffed by some of the best minds in the world, for the last seven decades we've continuously invested in new businesses and rigorously tested new ideas and tools that help our customers forge their own unique path to success.
For nearly 70 years, Fidelity Investments has harnessed the spirit of continuous improvement and innovation to craft solutions to meet the ever-changing and complex financial needs of our customers
The seeds of Fidelity's corporate history were sown back in 1943, when Edward Crosby Johnson 2d was first associated with Fidelity Fund. He founded Fidelity in 1946, served as its president for more than a quarter of a century, and shaped the company's values and standards.
Mister Johnson encouraged his employees to take intelligent risks rather than follow the crowd, pioneering the unique approach to investment management that Fidelity Management & Research Company still follows today.
Under the leadership of Edward C. "Ned" Johnson 3d - the son of Fidelity's founder. Fidelity introduced a series of firsts in this era:
Ned's foresight - during an extended period of market doldrums - led him to invest in talent and build an infrastructure to position Fidelity for the next bull market and beyond. Ned's investment paid dividends, as he was able to build an investment management team and establish a discount brokerage service.
The 1980s bull market was an ideal time for Fidelity to pursue new frontiers through expansion and technology.
Compelling business conditions and new legislation that favored retirement investing helped grow Fidelity's assets under management more than tenfold. This environment, coupled with Fidelity's investment in technology, made rapid expansion possible and profitable.
Despite the stock market crash of 1987, Fidelity continued its forward progress, using the business slowdown to make thoughtful decisions to improve productivity and build for the future.
Striving for continuous improvement, Fidelity built on a foundation of experience and strength in the 1990s. Challenged early, when Peter Lynch ended his legendary 13-year run as manager of the Magellan Fund in 1990, Fidelity's bench strength guided Magellan to long-term performance.
Fidelity developed many proprietary technologies in the '90s that led to pioneering innovations, such as wireless trading platforms. Fidelity also vigorously pursued global investment opportunities.
All this led Ned Johnson to highlight at the century's close, "I'm pleased to say there's no shortage of ideas at Fidelity."
Just after the dawn of the new millennium, Fidelity surpassed the $1 trillion plateau in assets under management-a Fidelity milestone despite ever-changing market conditions.
No one can predict the future, especially in an increasingly complex and uncertain world. But Fidelity is committed to making the benefits of financial services excellence accessible to everyone. By listening to customers and understanding their financial challenges and goals, Fidelity pledges to continuously improve and innovate.