Fidelity Investments said this month that the Web and access to a smattering of brokerage houses prompted the firm to nix plans for a call center near Tokyo, according to Reuters reports.
The fund powerhouse will instead employ Web channels and more than 100 banks and brokerage houses to handle the needs of individual investors, the report said. The call center would have been located in Tochigi, just outside Tokyo, and would have also offered record-keeping services to Japans burgeoning pension market. The firm said it will now outsource those services.
Fidelity would not disclose the cost of calling off the plans, the report said.