Bank One, Fidelity Align to Sell Retirement Products

Bank One of Chicago and Fidelity Investments Institutional Services of Boston have formed a partnership in which Bank One will sell Fidelity’s funds through its retirement distribution network, the companies announced today.

Fidelity will provide the record keeping, trustee services, and technical support for the new partnership and Bank One’s Institutional Investment’s sales force of 22 advisors will sell Fidelity’s funds to retirement plan sponsors, said Julie Crothers, a spokesperson for Bank One.

Bank One has similar distribution agreements with Zurich Scudder of Boston and Invesco of Denver in which both companies offer their funds through Bank One’s retirement network and provide back office support, said Crothers.

Bank One had approximately $265 billion in assets as of Jan. 30, 2001 and Fidelity Investments Institutional Services had nearly $196 billion as of Feb. 28, 2001, according to the announcement.

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