BOSTON — Fidelity Investments today announced that it formed a new alliance with Verizon Wireless, the country's largest wireless carrier, to deliver its InstantBrokerSM wireless trading service - the first of its kind - to mobile investors via Web-enabled phones. Under the terms of the agreement, Fidelity secures placement on the Online Trading and Finance categories of Verizon Wireless' new Mobile Web service, which launched today.
This summer, Fidelity Brokerage customers will be able to access real-time watch lists, market indices, stock quotes and other financial information, as well as place eligible stock trades wirelessly via any Verizon Wireless Mobile Web enabled phone. Fidelity will also deliver its customers wireless access to employer-sponsored retirement accounts through Verizon Wireless' new service, marking another industry first by offering wireless 401(k), 403(b) and 457 retirement plan access via Web-enabled digital phones.
"Fidelity is pleased to announce the addition of Verizon Wireless to the growing list of industry leaders who help Fidelity provide access and functionality for mobile investors to manage their financial portfolios," said Joseph G. Ferra, senior vice president, Fidelity Online Brokerage. "Through the Fidelity/Verizon Wireless alliance we will also offer first-time wireless Web phone access to retirement account information, enabling Fidelity brokerage and retirement customers to view their integrated portfolios wirelessly."
Fidelity Brokerage customers who have Fidelity-managed retirement plans and can view their combined portfolios via Fidelity.com and Fidelity NetBenefitsSM are eligible for wireless access to their accounts. InstantBroker, Fidelity's proprietary wireless technology, is currently available via handheld computers, one- and two-way pagers, Web phones and e-mail .
"This agreement represents our commitment to introduce a complete range of customized information services for our Mobile Web customers. Fidelity, a premier financial services provider, adds real value to the service, driving users to rely on their wireless phone as an indispensable source of information that follows them anywhere," said Marc Lefar, Verizon Wireless' staff vice president, e-Business, Wireless Internet and Data Services. "Mobile Web users have the ability to completely customize their wireless Internet experience based on their personal interests and needs, so if staying updated about stock prices and conducting wireless trading are critical to a user, they can easily configure their service to quickly access that specific information or capability via their wireless handset."
Verizon Wireless'nationwide Mobile Web service combines the convenience and mobility of wireless communications with popular content from the World Wide Web. The Mobile Web service, which runs on Verizon Wireless' robust and reliable, coast-to-coast CDMA network, gives users access to the Web-based information they want via their wireless handset.
About Fidelity Investments
Fidelity Brokerage Services, Inc. offers its customers access to a full range of securities, IPOs and other public offerings for eligible brokerage customers; FundsNetwork with more than 4,100 mutual funds; substantial commission savings; low margin rates; access to extensive independent research; a variety of cash management services for qualifying accounts and consolidated statement reporting.
Fidelity Investments is the nation's largest mutual fund company and a leading provider 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 May 31, 2000, Fidelity had total managed assets of 929.1 billion.
About Verizon Wireless
Verizon Wireless is the largest wireless communications provider in the U.S. with more than 25 million wireless voice and data customers and nearly 4 million paging customers. The new coast-to-coast wireless provider was formed by the combination of the U.S. wireless businesses of Bell Atlantic Corp. (NYSE:BEL) and Vodafone AirTouch Plc (LSE:VOD; NYSE:VOD) and GTE Corp. (NYSE:GTE). The new company includes the assets of Bell Atlantic Mobile, AirTouch Cellular, GTE Wireless, PrimeCo Personal Communications and AirTouch Paging. Verizon Wireless will be further strengthened by the addition of the wireless assets of GTE Corp. (NYSE:GTE) when it completes its merger with Bell Atlantic. The new company has a footprint covering nearly 90 percent of the U.S. population, 49 of the top 50 and 96 of the top 100 U.S. markets.
Verizon Wireless, headquartered in New York City and Bedminster, NJ, is 30,000 employees strong. Reporters and editors can find more information about the company in its Media Center on the Web at http://www.verizonwireless.com/mediacenter.
Instant Broker is a service of Fidelity Brokerage Services, Inc. Member NYSE, SIPC.
Verizon is an independent organization and is not affiliated with Fidelity Investments
For more complete information, including charges and expenses on any fund available through Fidelity, call or write for a free prospectus. Read it carefully before you invest or send money.
Fidelity Brokerage Services, Inc.
100 Summer Street, Boston, MA 02110