Ned Johnson was CEO back in the mid-90’s when I worked at Fidelity Investments. Today the CEO is his daughter Abby. What hasn’t changed at Fidelity is its commitment to invest in technology to help give it an edge. John Tlumacki writes for the Boston Globe: Johnson said that when her father, Ned Johnson, launched FCAT in 1999, the goal was to help clients and employees explore emerging technologies that could help spur Fidelity’s growth. Among FCAT’s more recent initiatives: a virtual reality experiment known as “Cora” — created in partnership with Amazon Web Services — that could provide … [Read more...]
Why Fidelity is Number One
You don’t build a company such as Fidelity Investments, with more than $2 trillion in assets, overnight. It takes constant focus and improvement, day by day, or kaizen—a Japanese philosophy of daily improvement espoused by former chairman Edward C. “Ned” Johnson III.
When I worked at Fidelity, back in the mid-90s, Mr. Johnson encouraged us, through his memos, to apply the philosophy of kaizen to all aspects of our lives.
Mr. Johnson paid particular attention to kaizen as it related to the firm’s investment in technology. He wanted to make sure Fidelity was second to none.
Read more about why Fidelity is number one below:
Identity fraud is on the rise as reported here in the Wall Street Journal. More consumers became victims of identity fraud last year than at any point in more than a decade despite new security protections implemented by the credit-card industry, a report released Wednesday said. Some 15.4 million U.S. consumers were victims of identity fraud in 2016, resulting in $16 billion in total losses, according to the report by consulting firm Javelin Strategy & Research and identity-theft-protection firm LifeLock Inc. The number of victims rose 18% from 2015 and was the highest since Javelin, … [Read more...]
You need a plan. That’s my #1 takeaway from Fidelity’s “Six Habits of Successful Investors.” One of the most common problems I come across when speaking with prospective clients of Richard C. Young & Co., Ltd., is their lack of a plan. A lot of times they own good stuff. But they don’t know how everything fits together. Picture this: You’ve set up a room full of presents, your family is anxiously awaiting by the fire, and you forgot to label the gifts. That’s how it feels to own good stuff without a plan. The power of investing to build wealth and achieve long-term goals has been proven … [Read more...]
The myths and misconceptions regarding Social Security are many. When can you get your full benefits? Can you claim a small amount early, and get bumped up later to a higher benefit? Can your ex-husband or ex-wife take part of your Social Security? What part of your life are your wages based on? Will you get all your money back? These are some of the questions Fidelity answers here in, Five Social Security myths debunked. Below I've sampled some of the more common misconceptions people have about Social Security benefits. Many people are adamant that Social Security benefits must begin at … [Read more...]
Worried about your required minimum distribution (RMD, aka minimum required distribution, MRD)? Don’t be. Fidelity’s got you covered. Here are the answers to some frequently asked questions regarding RMDs. General information What are minimum required distributions (MRDs)? Minimum required distributions, or MRDs, are mandatory, minimum yearly withdrawals that generally must be taken starting in the year you turn 70½. While there is a minimum amount you are required to withdraw in order to avoid severe penalties, you can always take more than the MRD amount. You generally … [Read more...]