While Fidelity Investments has gone through a number of sweeping changes in the past few years, they are not about to abate, Vice Chairman Robert Reynolds tells Financial Times. "If you don't like what's happening at Fidelity, stay around a few years and it will change," said Reynolds, who recently challenged employees of the firm to double assets by 2010.

Most notably, Fidelity recently overtook Merrill Lynch to become the biggest brokerage in the United States. It shocked the investment world when it removed Chairman Ned Johnson's daughter, Abigail Johnson, from her role as head of the mutual fund unit and followed that up by reorganizing the division and doubling the number of analysts it employs.

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