Net new client assets checked in at $23.8 billion, a large increase over the $2.5 billion the unit raked in during the second quarter of 2003. This category included the sales of both Fidelity and non-Fidelity funds and securities.
"Our significant growth in net flows clearly demonstrates the strength of our brand across all of our brokerage businesses," said Ellyn McColgan, president of Fidelity Brokerage, during a conference call.
Total client assets under administrations tallied $1 trillion, a 28% jump from 2003, while total client accounts jumped 12% to 13.9 million accounts at the end of the period.
Also, the average daily commissionable trades grew 75% from the corresponding period in 2003, totaling 198,722. McColgan said the purchase of UBS Financial Services business helped fuel the increase.
