3/17/2006

Fidelity Investments opens shop on Amazon

Filed under: — By Aviran Mordo @ 2:35 pm

Fidelity is turning to Amazon.com as it fights to maintain its leadership position in the mutual funds industry, becoming the first vendor to sell goods on the online retailer’s new financial services store.

Boston-based Fidelity Investments hopes to tap Amazon’s 55 million active customers as competitors American Funds and Vanguard jockey for its title as the mutual fund family with the most assets under management.

“This is part of our effort to give customers access to our products in ways that convenient to them,” Sean Belka, senior vice president at Fidelity Personal Investments, told Reuters on Friday.

Source: Reuters (via Yahoo!)

 

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