On Monday, Fidelity Investments announced total brokerage client assets had reached a record $1.99 trillion in the fourth quarter, a 17% increase from a year ago.
Fidelity attributes the growth to market activity and increased net flows across all three brokerage units: Fidelity Retail Brokerage, Fidelity Institutional Wealth Servicesand National Financial.
The average daily commissionable trades rose 30% over the previous year to set a record of 408,803.
Net new client assets grew 32% to $58.5 billion, and total client accounts rose 5% to 18 million.
The firm saw growth across all of its brokerage firms over the course of the year, with net new client assets up 22% to $201.1 billion. The Institutional Advisor business added $96.5 billion, up 129%.