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- Online brokerage firm Firstrade Securities announced the launch of improved research tools and the addition of a market data platform supported by Morningstar.
- Fidelity has decided to pursue a heavier allocation in equities for their target date funds due to the fact that an increasing number of Americans are delaying retirement, and because competitors Vanguard and T.Rowe Price already offer funds with heavier stock weightings. For example, Fidelity’s Freedom 2020 Fund will up the percentage of its assets in equities to 61% from its current target of 53%. All of Fidelity’s target date retirement funds will begin to adjust their asset allocations over the next several months.
- Interactive Brokers reported their monthly brokerage metrics for September. Interactive Brokers currently has 231,000 customer accounts, a 13% increase from last year. The company’s daily average revenue trades were almost identical to the month prior, but represented a 16% increase over the same period in 2012.