Fidelity Investments may possess the largest supermarket of mutual funds, with $3.2 trillion of assets under administration and $1.5 trillion under management — but it's no longer just about offering a wide selection of mutual funds or getting companies set up with retirement benefits programs.

"We at Fidelity view ourselves just as much as a financial information processing company as an investment management firm," said Abigail Johnson, vice chairman of parent FMR LLC and president of Fidelity's personal and workplace investing business.

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