In an effort to match competitors, Fidelity Investments has reduced commissions for online U.S. equity trades made by retail investors and financial advisers.

Ron Fisk, an executive vice president in Fidelity's institutional wealth services division, said that pricing "varied" at Fidelity and it was crucial to align commissions more closely. "I think it is important to know that many end-investors have relationships that span Fidelity," he said. "We want to make sure that price is not a barrier to decide where our customers should do business."

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