Fidelity Brokerage reported its assets in the second quarter rose 21% to $1.5 trillion. Driving those strong sales was money invested in individual retirement accounts, money market funds and Fidelity's target-date funds, the Freedom Funds.
In addition, more investors are asking for Fidelity's portfolio advisory services, whereby financial advisers work with them to structure an investment portfolio.
Average daily trades were 308,858, up 26% from last year. Net new client assets, however, fell 32% to $41.7 billion, which Fidelity attributed to having landed a number of large institutional clients in 2005.