Fidelity Investments said it has seen an increase in the number of “breakaway” brokerage teams going independent.
The Boston fund giant, which also serves as a custodian in helping brokers establish independent practices, said it helped 95 individuals and teams go independent in the first half of 2010. That included 13 teams with at least $250 million or more in assets. Fidelity said that the average assets per breakaway team on its platform increased 65% over the same time period last year.
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