Fidelity Investments, the nation's No. 1 provider of workplace retirement savings plans, today enhanced its free iPhone and iPod touch application to provide workplace savings plan participants access to retirement account information in a secure and easy-to-use app.
Available from iTunes, the app now enables Fidelity's more than 14 million 401(k) and 403(b) plan participants to quickly view balances, positions and year-to-date history, including their personal rate of return (PRR).1
"America's workforce is more mobile than ever, and we understand that many employees wish to view their 401(k) accounts on the go," said James M. MacDonald, president, Workplace Investing, Fidelity Investments. "Today's app blends the technology and security of Fidelity's online account information with the functionality of the iPhone and iPod touch for a better customer experience."
The enhancement of Fidelity's mobile app puts the power of its award-winning2 online workplace sites, such as Fidelity NetBenefits, into the hands of participants who carry an iPhone or iPod touch. After a free download from the iTunes App Store, participants can track retirement savings accounts closely by viewing their investment choices, such as the mutual funds they hold; account balances; year-to-date performance and a personal rate of return; and recent account transactions. Participant account balances are updated daily.
In February, Fidelity Mobilesm launched a brokerage trading app, enabling stock, option, ETF and mutual fund trading over a secure trade ticket powered by Apple's Multi-TouchTM user interface. Fidelity long has been a leader in mobile computing, introducing mobile trading on a RIM pager more than 10 years ago. Since then, Fidelity Mobile has given brokerage customers access to comprehensive investment services on an extensive variety of handheld devices, including Blackberry, Palm and other Web-enabled phones.
1 Fidelity's personal rate of return is based upon a calculation of an account's investment time-weighted performance during a given period of time and excludes contributions, withdrawals, loans and certain other types of account activity made either by the participant or plan sponsor. The ability to view PRR is a plan sponsor design decision. Not all plan participants will have access to PRRs.
2 Independent market research firm kasina named Fidelity's plan participant Web site #1 in its April 6, 2010 DC Top 5 Plan Participant and Sponsor Web Sites report.