National Financial Services LLC, a Boston clearing unit of Fidelity Investments, increased its assets under custody 9% last year, to $709 billion.
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The unit also reported a 13% increase in average daily commissionable trades, to 188,000. Assets held in its managed account solutions program increased 21-fold, to $7.4 billion.
National Financial said last week it formed relationships with 17 broker/dealer firms last year and added 10 relationship managers, increasing its dedicated relationship management team to 65 professionals.
The unit offers brokerage products and services to over 330 clients ranging from retail broker-dealers to institutional investment firms. Its clients have 85,000 brokers.
