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Wednesday, June 07, 2006|
Retail Retirement Booming, At Least at Fidelity
The head of Fidelity's brokerage unit says the success of the firm's Web site and a push on advertising are behind a 62 percent jump in retail retirement account inflows over the first four months of 2006.
According to Reuters, Ellyn McColgan said more than half of accounts started between January 1 and April 30 were opened online.
Company executives said the hefty flows into IRAs and other individual products -- almost three times greater than what Fidelity saw in the first four months of '05 -- show that Americans are finally realizing they must take charge of their retirement security.
But Fidelity's most recent Retirement Index results didn't hint at dramatically rising awareness. In any case, it seems Fido's high profile and long-standing commitment to technology -- boosted, likely, by sponsorship of an interface on Amazon.com, launched earlier this year -- has paid off, attracting retail consumer dollars.
Printed from: MFWire.com/story.asp?s=11968
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