Fidelity's Q4 broker assets break record

Fidelity Investments said total brokerage client assets reached a record $1.99 trillion in the fourth quarter, marking a 17% increase from the previous year. The increase was due to increased net flows across each of its brokerage units, according to the Boston-based brokerage. Daily average commissionable trades rose 30% to a record 408,803 in the fourth quarter compared to the year-ago period. The combined daily average commissionable trades of the Retail and Institutional Advisor businesses rose 50% to a record 217,578. New client assets grew 32% to $58.5 billion, and total client accounts rose 5% to 18 million. For the year, new client assets rose 22% to $201.1 billion, compared to the year-ago period. Fidelity Investments had $3.4 trillion in custodied assets, including managed assets of $1.6 trillion as of Dec. 31.