Soon, accounts held by trust may be insured by the FDIC for up to $1.25 million, rather than the current $250,000 limit on many individual accounts.
The acquisition was part of a plan to broaden the firm’s revenue beyond a traditional focus on ultra-wealthy individuals.
The tally of seven-figure retirement accounts at Fidelity is climbing as stocks bounce back after falling in 2022.
The company will administer an auto-IRA program for both Colorado and Maine. The intent is for up to 40% of private-sector employees in Maine to be able to access retirement features.
As the cost of services has risen, the financial position of the affluent has weakened—and that makes the overall economy more fragile.
Was the feel-good story of a White couple welcoming a talented Black teen into their family just a sham?
