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Article: FIDELITY TO OFFER BOND SERVICES MUTUAL FUND GIANT WILL TARGET WEALTHY CLIENTS, PLANS TO OPEN 9 CENTERS
- Article from:
- The Boston Globe (Boston, MA)
- Article date:
- June 20, 2001
- Author:
CopyrightCopyright 2001 The Boston Globe. Provided by ProQuest LLC. (Hide copyright information)
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In a departure from its history, Fidelity Investments will soon
begin managing individual bond accounts for wealthy investors, as an
alternative to mutual funds.
The move marks a hesitant step for the Boston fund giant into the
business of making specific securities investments for customers with
accounts of $1 million or more. The firm is not yet offering to
manage stocks in separate accounts. Executives yesterday said they
were "evaluating whether to expand into individual equities."
Fidelity also said yesterday it would open nine new investment
centers this year, for a total of 87, including offices in New York
and Chicago where wealthy clients can meet with representatives by