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Rating:Fido Shakes Up Sales to Individuals Not Rated 4.0 Email Routing List Email & Route  Print Print
Tuesday, February 11, 2003

Fido Shakes Up Sales to Individuals

by: Sean Hanna, Editor in Chief

Fidelity has changed the way it is going after individual investors. Rather than segment the individual market by how many assets the customer has with Fidelity, the Boston Behemoth will divvy up its efforts by the age of the investors. Fidelity execs think this strategy is the best way to fit the customer with the right product.

The core of the changes is a streamlining of Fidelity's sales structure aimed at individuals. Rather than treat investors differently based on the distribution channel through which they found the firm, Fidelity will use a single sales unit for its branch offices, telephone service, and website.

The change of gears comes four months after Jeff Carney moved from Fidelity Canada to take over as president of Fidelity's individual investments unit. And it is not just Carney who Fidelity is putting on the case. It has also tasked Neal Litvack, formerly president of retail marketing, to head up individual sales and service through the Fidelity website. Joan Bloom, senior vice president, is taking over a newly formed information and advertising group, as a part of the shift.

Meanwhile, Fidelity is still considering who will head the distribution and marketing group for the efforts. 

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