J.D. Power and Associates Ranks Fidelity Investments Highest in Investor Satisfaction for Online Trading Services; Powerstreet Receives Top Honors During First Year

Business Wire, August 14, 2000

Business Editors

BOSTON--(BUSINESS WIRE)--Aug. 14, 2000

Fidelity Investments(R), one of the nation's leading providers of financial services, said today that its online trading offering was ranked highest in investor satisfaction among online traders according to the J.D. Power and Associates 2000 Semiannual Online Trading Investor Satisfaction Study(SM) released today. Fidelity is noted for its strength in the area of customer service.

"In less than a year since its introduction, Fidelity's Powerstreet(SM) offering has provided an extraordinary customer experience that is designed to meet the needs of our online brokerage customers," said Gail McGovern, president, Fidelity Personal Investments. "Our goal is to continue to offer the best customer service experience across multiple delivery channels including the web, phone, in-person and through wireless devices. This award recognizes and reinforces the importance of customer satisfaction, which is at the center of everything Fidelity does for its customers and something that we work to improve every day."

According to the study, customer service continues to have the most significant impact on an online trader's overall satisfaction with their online trading service. Additionally, the impact that customer service has on overall satisfaction increases among more active traders. For example, customer service accounts for 26 percent of overall online trading satisfaction among online traders, while it accounts for 42 percent of the satisfaction of those who conduct 60 or more trades in a six-month period. The average online trader reports conducting 18 online trades in a six-month period.

The six drivers that comprise overall investor satisfaction with online trading as defined in the study are: customer service, 26 percent; information/education, 19 percent; integrity/reputation, 19 percent; processing, 17 percent; portfolio management, 12 percent and fees/commissions, 7 percent.

Conducted independently by J.D. Power and Associates, the 2000 Online Trading Customer Satisfaction Study is based on responses from a national sample of 2,079 online investors. The study is conducted semiannually and is designed to provide online brokerage services with actionable information to better understand the expectations, needs and desires of today's online traders.

About J.D. Power and Associates

Headquartered in Agoura Hills, CA, J.D. Power and Associates is a global marketing information services firm operating in key business sectors including market research, forecasting, consulting, training and customer satisfaction. The firm's quality and satisfaction measurements are based on actual customer responses from millions of consumers annually.

About Fidelity Investments

Powerstreet - at Fidelity.com - provides investors with a comprehensive arsenal of financial planning and trading tools, technology and resources in one integrated, easy-to-access location via the Web. Among its many benefits, Powerstreet offers investors the opportunity to customize their Web experience by designing a personal start page, My Fidelity(SM).

Fidelity Investments is one of the nation's leading providers of financial services. Fidelity offers investment management, retirement, brokerage, and shareholder services directly to individuals and institutions, and through financial intermediaries. The firm also is the No. 1 provider of 401(k) retirement savings plans, the second largest discount brokerage firm and the third largest provider of 403(b) retirement plans for not-for-profit institutions in the United States. At July 31, 2000, Fidelity had total managed assets of $956.7 billion.

Fidelity Brokerage Services, Inc. Member NYSE, SIPC.

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