Fidelity Adds 1,200+ Clients to Workplace Benefits Platform So Far in 2020

By Alex Padalka October 6, 2020

Fidelity Investments says it had record sales across workplace savings and company stock plans this year that added more than $148 billion in assets so far in 2020.

In all, the company says it has added more than 1,200 new organizations to the platform, including Fortune 500 companies, technology start-ups, universities and nonprofits. More than 800 of the new clients are using multiple workplace benefit programs, Fidelity says.

The Cleveland Browns NFL team is among the new 401(k) plan clients, the Reform Pension Board is among the new 403(b) customers, while Indiana University is one of the new clients in the higher education market, Fidelity says.

Fidelity’s stock plan services business — which offers equity compensation services for restricted stock plans, performance plans, stock options and employee stock purchase plans — added a record $33.1 billion from 70 new clients, including business data and analytics provider Dun & Bradstreet, according to the press release.

“The economic uncertainty throughout most of 2020 has caused many organizations to increase focus on managing their resources, which often includes streamlining the administration of the benefits platform,” the company says in the press release.

Fidelity’s platform now has more than $2.5 trillion in client assets across 24,400 total workplace clients, representing 32.2 million participant accounts, according to the press release.

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