HybridOne^SM Enhanced to Provide Single Sign-on and Referral Programs

BOSTON, December 15, 2008 -- Fidelity Investments^® and National Financial^® today announced that HybridOneSM, an offering designed to help firms and advisors manage their commission- and fee-based business, has attracted 104 hybrid clients with $13 billion in assets since its launch in June 2008.

According to National Financial's research, the hybrid market is one of the fastest growing segments of financial advisors in the United States, with the majority of all brokers and advisors managing some combination of commission and fee business.¹ The interest among firms and advisors in the hybrid model is growing rapidly, especially as the trend of brokers considering going independent accelerates. In fact, since launching HybridOne in June, Fidelity and National Financial have received more than 575 inquiries from firms and advisors.

In addition, the HybridOne Evaluator^SM online tool, which is designed to help brokers and advisors looking for a new opportunity understand the various business models available to them, has generated significant interest since June. To date, the tool has received more than 3,700 visitors.

"We believe the ongoing market fluctuations will only accelerate movement amongst the broker community and, as a result, accelerate interest in HybridOne," said Ronald P. Fiske Jr., executive vice president, Fidelity Institutional Wealth Services^®. "Given that so many of these advisors and brokers are incorporating both commission- and fee-based business models, firms are rapidly adapting to hybrid platforms that can make it easier to meet the needs of their customers.

"When you look at our competition, we believe no one has a comparable offering in size, scale or capability," Fiske added. "At well over $930 billion in assets and hundreds of millions of dollars invested in our National Financial and Institutional Wealth Services businesses over the past couple of decades, HybridOne is well positioned to take advantage of opportunities among both hybrid and breakaway brokers."

Those firms selecting HybridOne include The Leaders Group, Medallion Advisory Services, LLC, Monarch Capital, Mutual Securities, Spire Investment Partners and Strategic Wealth Partners.

New clients cite several key factors for selecting the offering, including Fidelity and National Financial's more than 15 and 25 years, respectively, supporting RIAs and broker/dealers. Additionally, firms were attracted to the fact that both the Fidelity RIA custody business and National Financial's correspondent clearing business are part of a single organization, providing them efficient and timely access to a broad array of capabilities, including products ranging from alternative investments to capital markets trading.

"Like many others, our firm has recently had to evolve its business model to address both the commission- and fee-based needs of clients," said Paul T. Murphy, National Director of Sales, Spire Investment Partners. "With HybridOne, Fidelity is leading the way in addressing a growing market need, but with a consultative and flexible approach that supports a variety of hybrid business models."ⁱⁱ

Single Sign-on and Referral Programs Introduced

Fidelity also is delivering two key enhancements to the HybridOne offering. Clients of National Financial and Fidelity are now able to sign on to their workstations just once to view both their commission- and fee-based account activity across the two brokerage platformsⁱⁱⁱ. Single sign-on delivers tighter integration between National Financial's broker and advisor workstation, Streetscape^®, and Fidelity's RIA workstation, AdvisorCHANNEL^®-- scheduled to be replaced by Fidelity WealthCentral^® in 2009. Fidelity WealthCentral is the industry's first Web-based wealth management platform that integrates advisors' most critical operational systems into a single, integrated workstation.

In addition, Fidelity and National Financial have introduced the HybridOne B/D Connect^SM Program. This program can refer advisors to a network of broker/dealer client firms on National Financial's platform who are willing to accept commission assets from RIAs. Fidelity and National Financial also launched the HybridOne RIA Connect^SM Program, which compensates broker/dealer client firms who successfully refer fee business to Fidelity.

"Since we launched HybridOne the response from firms and advisors has been overwhelming," said Fiske. "HybridOne addresses a growing market need and we are confident that clients will find that our collaborative approach, proven expertise and broad range of capabilities will help make it easy to manage the complexities inherent in a hybrid model so that they can efficiently grow and meet their business needs."

For more information on the program, broker/dealer and RIA firms, as well as individual brokers and advisors, can visit www.FidelityHybridOne.com.

About Fidelity Institutional Wealth Services

Fidelity Institutional Wealth Services is a leading provider of trading, custody and brokerage services to Registered Investment Advisors, Trust Institutions and Third Party Administrators. The company is able to leverage the capital, resources and expertise of the Fidelity organization, one of the world's largest financial services companies, on behalf of its clients. This includes access to a comprehensive set of products and services, innovative investment tools and research, an integrated brokerage and trust platform, and dedicated client service professionals -- all designed to help its clients thrive by growing their businesses, more effectively meeting customer needs, and enhancing operational efficiency and profitability. Fidelity Institutional Wealth Services custodies more than $335 billion in assets on behalf of over 3,500 clients, as of September 30, 2008. For more information about Fidelity Institutional Wealth Services, please visit http://fiws.fidelity.com.

About National Financial

National Financial, a Fidelity Investments company, offers Integrated Brokerage Solutions^® to 310 clients ranging from retail broker/dealers to institutional investment firms. Collectively, there are over 85,000 brokers and advisors associated with National Financial correspondent broker-dealers. As of September 30, 2008, National Financial custodied $600 billion in assets, representing 5.5 million accounts. Integrated Brokerage Solutions incorporates innovative technology, products and programs, supported by dedicated client service professionals and trusted industry alliances. This holistic, solutions-oriented approach is designed to help client firms attain competitive advantage by driving growth, creating efficiency and managing risk. For more information about National Financial and Integrated Brokerage Solutions, please visit www.nationalfinancial.com.

Fidelity Investments is one of the world's largest providers of financial services, with custodied assets of nearly $2.7 trillion, including managed assets of over $1.2 trillion as of October 31, 2008. Fidelity offers investment management, retirement planning, brokerage, and human resources and benefits outsourcing services to 24 million individuals and institutions as well as through 5,500 financial intermediary firms. The firm is the largest mutual fund company in the United States, the No. 1 provider of workplace retirement savings plans, the largest mutual fund supermarket and a leading online brokerage firm. For more information about Fidelity Investments, visit www.fidelity.com.

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ⁱAccording to the 2007 National Financial Broker and Advisor Sentiment Index^SM. The National Financial study was conducted by online interviews between August 31, 2007 and October 9, 2007 by In4mation Insights. The respondents came from a mix of regional, bank, insurance, independent, wirehouse, and RIA firms, weighted to accurately reflect the industry composition.

ⁱⁱThe experience of this customer may not be representative of the experience of all customers and is not indicative of future success.

ⁱⁱⁱExpected launch date is December 18, 2008 and is subject to change.

The term "advisor" includes, but is not necessarily limited to, financial professionals including brokers, financial representatives, etc., and does not infer or imply any specific certification, licensing or registration in connection with the usage of this term.

Client firms listed are independent companies and are not affiliated with Fidelity Investments or its affiliates.

Trademarks and service marks appearing herein are the property of FMR LLC.

Fidelity WealthCentral is currently not available to all Fidelity Investments clients.

Clearing, custody and other brokerage services may be provided by National Financial Services LLC or Fidelity Brokerage Services LLC, Members NYSE and SIPC.