Second-quarter client assets at Fidelity Investments' brokerage unit grew 2% from a year earlier, to $1.92 trillion.

The Boston company said net new client assets in the brokerage business, including sales of Fidelity and third-party mutual funds and individual securities, shrank 43.1% from the first quarter and 24.7% from a year earlier, to $23.5 billion.

However, net new assets at Fidelity Institutional Wealth Services, which provides services to advisers and third-party administrators, rose 10% from a year earlier, the parent company said.

Fidelity Investments had over $1.5 trillion of assets under management as of June 30.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.