Fidelity Investments announced that it plans to reduce electronic equity commissions for customers of registered investment advisers to $8 for trades of up to 3,000 shares.
The change, which is to take effect Aug. 16, will give that price, plus a penny per share for the trade amounts exceeding 3,000, to registered advisers' customers that have at least $1 million at Fidelity. The reduction is from $24.95.
For all advisers, Fidelity said, it would reduce its standard electronic commission to $17.95 for the first 1,000 shares and 15 cents per share thereafter. The reductions extend pricing programs introduced and enhanced in recent months for individual investors and active traders, the Boston fund giant said.