Fidelity Investments announced Monday that its HybridOne platform, launched in June, has attracted $13 billion in assets. The platform is designed for firms with a mix of commission and fee business, which is one of the fastest-growing brokerage segments in the U.S.
We believe the ongoing market fluctuations will only accelerate movement amongst the broker community and, as a result, accelerate interest in HybridOne, said Ronald P. Fiske, Jr., executive vice president with Fidelity Institutional Wealth Services. Given that so many of advisers and brokers are incorporating both commission- and fee-based business models, firms are rapidly adapting to hybrid platforms that can make it easier to meet the needs of customers.
Since we launched HybridOne, the response from firms and advisers has been overwhelming, Fiske added.