Fidelity Investments reported strong growth in defined contribution sales commitments during the first half of 2012. The company attracted 838 new clients, representing 522,000 participants and $25.2 billion in assets under administration, up $36% from the $18.5 billion in sales commitments in the first half of 2011.
Advisors helped drive the growth, bringing in more than 450 new clients with close to 100,000 participants and $2.6 billion for Fidelity. The advisor-sold 401(k) plans reeled in many small business owners with up to 500 employees, Steve Patterson, executive vice president of sales for Fidelity Personal and Workplace Investing, said in an interview.
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