Fidelity Investments' discretionary assets under management totaled $4.3 trillion as of March 31, up 9% from a year earlier, a company report showed.
In contrast, the firm's AUM rose 35.4% in the year ended March 31, 2021.
Fidelity's assets under administration totaled $11.3 trillion as of March 31, also up 9% from a year earlier. Again, in contrast, AUA rose 42.6% in the 12-month period ended March 31, 2021.
Among areas of growth, Fidelity attracted 1.5 million in new retail accounts in the quarter ended March 31, representing growth of 54% compared to first quarter 2021. However, the increase in the latest quarter was far lower than the 222.8% increase in new retail accounts in the first quarter 2021 from the same quarter in 2020, during the onset of the COVID-19 pandemic.
In the first quarter report, Fidelity said some of the drivers behind its growth were the continued hiring of 12,000 new employees throughout this year; new technology capabilities, such as the firm's entrance into the metaverse; and new investment offerings including four new ESG funds and a workplace digital assets account that enables defined contribution plan sponsors to offer their participants access to bitcoin through an investment option in their core plan lineups.