The first six months of the year were good ones for Fidelity's Registered Investment Advisor Group. That business grew more than 20 percent to $73 billion in assets during the first half. Since June of 2002 that business has grown just 21 percent. The business unit custodies assets for financial advisors.

Although much of the growth in the first half may represent market appreciation, Fidelity points to a relatively large number of advisors that came to it so far in 2003. During the first six months of the year nearly 250 advisory firms established custodial relationships with the Fidelity RIA Group. All together it now claims more than 1,800 advisory firms as clients.

"Given the volatility of the markets over the past few years, the demand for professional advice has continued to grow," said Jay Lanigan, president of the Fidelity Registered Investment Advisor Group in a statement.  

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE