Fidelity Investments says that 55 "breakaway brokers," bringing more than $7 billion of assets, have chosen the Boston fund company during the year's first half to be custodian for their newly established independent registered investment advisory firms, more than doubling the assets gained from this source throughout 2007.

Fidelity research that was released Monday says breakaway clients cite several keys for their choice of Fidelity, including the company's experience working with other breakaway firms to help guide them through the transition, the coming introduction of the Fidelity WealthCentral brokerage workstation, and the recently launched HybridOne workstation for registered advisers.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.