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FIIS Overview

FIIS Overview. FIIS Organizational Structure. FIIS Business Model. Advisor Markets. FIIS. Shareholder. Broker/Dealer Home Offices. Broker/Dealers Investment Professionals. Advisor Funds Retail Funds Destiny 401(k), 529. Institutional Markets. FIIS. Insurance Cos. & Banks.

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FIIS Overview

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  1. FIIS Overview

  2. FIIS Organizational Structure

  3. FIIS Business Model Advisor Markets FIIS Shareholder Broker/Dealer Home Offices Broker/Dealers Investment Professionals • Advisor Funds • Retail Funds • Destiny • 401(k), 529 Institutional Markets FIIS Insurance Cos. & Banks Investment Professionals Shareholder • VIP Funds • Advisor Funds • Retail Funds • Institutional Money Market • 401(k), 529 Corporation • Institutional Money Market

  4. Key Customer Relationships October 2004 Long-Term Fund Assets ($B) Advisor Market Institutional Markets Nationwide First Command ING Manulife Financial MetLife Citigroup AXA Group Lincoln Financial American Express Genworth Financial Citigroup/Smith Barney American Express Merrill Lynch Wachovia/Prudential AIG Bank of America/Fleet A.G. Edwards Morgan Stanley ING Wells Fargo $14.5 $4.3 7.2 4.2 6.9 3.3 4.1 2.8 3.7 2.0 3.3 1.8 2.4 1.7 2.3 1.7 2.2 1.6 2.0 1.3 Note: Fidelity-managed assets only; includes sub-advised funds Source: FIIS Internal Reporting

  5. Key Statistics • 7.2% share of advisor market – 2nd in flows • 3.2% share of insurance market • 6% share of institutional money market market • 3rd in total assets under management with $197b • $724m in 2004 revenue • $183m in 2004 operating income (25% operating margin up from 22% in ’03 and 16% in ’02) • 23% of Fidelity’s operating income • 1,300 employees

  6. Long Term Goals • Advisor Funds: Maintain a top 5 position in net sales in all market conditions • Insurance: Maintain a top 3 position in assets under management • Institutional Money Market: Increase market share Add $50 billion in FIIS assets by 2007

  7. 2005 Strategies • Grow the # of advisors (add 6,000 new customers in ’05) • Diversify our asset base • Further pursue the bank market and protect our position in the insurance market • Protect and expand the institutional money market business New for ‘05 • Improve the quality of the customer experience • Better position FIIS in the marketplace

  8. FIIS Value Proposition Fidelity. Committed to your success in any market. • Insight • Actionable investment insights from one of the industry’s strongest and most experienced investment research firms. • Diversification • A broad range of quality products and services. • Dedicated Support • Responsive service because we value your time. Prove it. Every Day

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