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Fidelity Alliance With AICPA Hits $100 Million in First Year BOSTON, Jan. 12, 2001 (SmartPros) In just under a year, CPAs working with Fidelity Investments Institutional Brokerage Group through its alliance with the American Institute of Certified Public Accountants have reached $100 million in assets, Fidelity reported. The alliance, announced last January at the AICPA's annual Personal Financial Planning Technical Conference, established the financial services giant as the exclusive and preferred provider of clearing and custody services in the AICPA's Center for Investment Advisory Services (CIAS). "Many of the firms that began offering investment advisory services through the program were new to the business and started with little or no assets under management; so reaching $100 million in the first year is truly a great accomplishment and shows the opportunity for CPAs in the investment advisory marketplace," said Jay Lanigan, executive vice president of IBG. Alan Anderson, senior vice president of Technical Services for the AICPA, called the announcement "proof-positive of the growing demand for objective, professional investment advice and the unique position CPAs are in to help meet that demand." As part of CIAS, IBG provides institutional custody, clearing and investment services, technology, business development programs, and client service and relationship management teams, as well as support throughout the process of becoming a Registered Investment Adviser. Fidelity Investments custodies assets of $1.5 trillion, including managed assets of $899.1 billion. -- SmartPros News Staff Send comments to information@smartpros.com 2001, Smartpros Ltd. All Rights Reserved. |
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