BOSTON--(BUSINESS WIRE)--Fidelity Investments® today reported record sales for stock plan administrative services since July 1, 2014 with 53 new client agreements representing more than 140,000 plan participants. New client wins added $10.8 billion to Fidelity’s® platform, the fourth straight year of record sales for Fidelity’s stock plan services business, which now supports 330 employers and represents $112 billion of “in the money”1 value.
Fidelity provides recordkeeping, trade execution and employee services for restricted stock plans, performance plans, stock options and employee stock purchase plans. These plans continue to be a valued benefit among technology companies, including new Fidelity clients Hewlett-Packard Company® and Pandora® internet radio, as well as non-technology companies such as Advance Auto Parts®, the largest automotive aftermarket parts supplier in North America, and Bloomin’ Brands®, which operates several restaurant brands including Outback Steakhouse®, Carrabba’s Italian Grill® and Bonefish Grill®.
“Company stock plans are playing an increasingly important role in corporate benefit programs, especially as more companies expand their workforce globally and look for ways to enhance their benefits offering while streamlining the administration of their platform,” said Kevin Barry, executive vice president of Fidelity’s Stock Plan Services business. “As a result, dozens of companies across a variety of industries have turned to Fidelity to leverage our experience and administrative expertise, to help them provide the best possible experience for their employees around the globe.”
Fidelity’s results are underscored by recognition from Group Five®, an independent corporate research and consulting firm that analyzes and benchmarks the stock plan administration market. Fidelity received a 96 percent overall satisfaction rating in this year’s study2, which is the highest rating in the survey’s 17-year history. Fidelity was also rated as the top provider for service to plan participants working outside of the U.S., which is increasingly important as more employees located outside of the U.S are participating in their company’s stock plan. For example, according to recent Fidelity analysis, the number of employees outside the U.S. participating in their company’s Employee Stock Purchase Plan (ESPP) has grown by more than 50 percent between 2010 and 2014.3
Fidelity’s multi-benefit capabilities drive company stock opportunities
Many employers are seeking a provider that can deliver multiple benefits, such as their 401(k), health savings account, and company stock plan, on one platform. This integrated approach can help simplify administration, better support the diverse needs of their employees and help companies better communicate total compensation. Fidelity is one of the few vendors in the industry that integrates and manages multiple benefit offerings on one platform, and nearly 75 percent of new business for Fidelity stock plan services over the last 12 months came from clients with this need.
About Fidelity Investments
Fidelity’s goal is to make financial expertise broadly accessible and effective in helping people live the lives they want. With assets under administration of $5.1 trillion, including managed assets of $2.0 trillion as of August 31, 2015, we focus on meeting the unique needs of a diverse set of customers: helping more than 24 million people invest their own life savings, nearly 20,000 businesses manage employee benefit programs, as well as providing nearly 10,000 advisory firms with technology solutions to invest their own clients’ money. Privately held for nearly 70 years, Fidelity employs 42,000 associates who are focused on the long-term success of our customers. For more information about Fidelity Investments, visit https://www.fidelity.com/about.
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Stock plan recordkeeping and administrative services are provided by
Fidelity
Stock Plan Services, LLC.
Fidelity Brokerage Services LLC, Member NYSE, SIPC,
900 Salem
Street, Smithfield, RI 02917
Fidelity Investments Institutional Services Company, Inc.,
500
Salem Street, Smithfield, RI 02917
National Financial Services LLC, Member NYSE, SIPC,
200 Seaport
Boulevard, Boston, MA 02110
738956.1.0
© 2015 FMR LLC. All rights reserved.
1 “In the money” notes when the price of particular stock option is less than the external share price, meaning the owner is in the position to make money should they choose to sell or exercise it.
2 The 2015 Group Five survey included responses from 1,019 corporate stock plan sponsors with stock plans such as stock options, restricted stock, stock purchase, performance shares and stock appreciation rights. The study was conducted from May 5 to June 30, 2015.
3 Internal Fidelity data; Analysis based on approx. 200 SPS Clients that have been on the platform for five consecutive years (2010-2014).
