Fidelity Investments

With bitcoin hitting new highs, it’ll likely reach the US$100,000 milestone before 2024 is out

Retrieved on: 
Wednesday, March 13, 2024

Bitcoin has just hit an all-time high of more than US$72,000 (£56,300), pushing past the level of circa US$69,000 where it turned back during its last bull phase in late 2021.

Key Points: 
  • Bitcoin has just hit an all-time high of more than US$72,000 (£56,300), pushing past the level of circa US$69,000 where it turned back during its last bull phase in late 2021.
  • This can often be a time when cryptocurrencies get weaker, so it shows how strong they have been lately.
  • So what has contributed to this explosion in prices and where is the market going for the rest of 2024?

Bitcoin ETFs

  • A total of 11 bitcoin ETFs were approved in the US, and their daily trading volume has now exceeded US$10 billion – driven by frontrunners Blackrock and Fidelity Investments.
  • This demonstrates the large interest from traditional market participants, and as the spot ETFs become more mature, their providers will offer more promotional material and education to get more customers onboard.
  • The cryptocurrency market is always adapting and innovating, and one possible future innovation is the offer of option contracts on the new spot ETFs.
  • However, US regulator the Securities and Exchange Commission (SEC) has just postponed a decision on this innovation until late April.

The bitcoin halving

  • The last halving took place in May 2020, where miners went from receiving 12.5 bitcoin for each unit of work they do to 6.25 bitcoin.
  • Because each halving means less new bitcoin coming on to the market, they have coincided with strong price appreciation in the cryptocurrency.
  • One theory is that the institutions behind the spot ETFs are buying aggressively now because they know there will be less bitcoin on the open market once the halving takes place.

Ethereum prospects

  • Meanwhile, the crypto market could also be boosted by spot ETFs for the ethereum cryptocurrency system in the coming months.
  • While that uncertainty continues, ethereum could be boosted by the so-called Dencun upgrade (also known as Duncan or EIP-4844).
  • Ethereum has competition from other blockchains such as solana and avalanche due to its relatively slow transaction speed and high costs.

Where next

  • The market is very volatile, and often exceeds expectations when it goes up or down.
  • However, the majority of commentators expect crypto prices to keep rising over the coming months.


Andrew Urquhart owns some cryptocurrencies.

Industry Leader Carlos Hernandez Joins CMG Board to Accelerate Market Innovation

Retrieved on: 
Thursday, March 7, 2024

New York, March 07, 2024 (GLOBE NEWSWIRE) -- Capital Markets Gateway (CMG) , a fintech firm modernizing capital markets, today announced that Carlos Hernandez has joined its Board of Directors, effective January 24, 2024.

Key Points: 
  • New York, March 07, 2024 (GLOBE NEWSWIRE) -- Capital Markets Gateway (CMG) , a fintech firm modernizing capital markets, today announced that Carlos Hernandez has joined its Board of Directors, effective January 24, 2024.
  • Hernandez was an industry leader at JPMorgan Chase, most recently serving as a member of its Operating Committee and the Executive Chair of Investment and Corporate Banking.
  • Prior to his Executive Chair role, Hernandez was Global Head of Investor Services and led JPMorgan’s Global Equities and Prime Services business.
  • “Carlos is an innovative leader who is deeply passionate about improving market structures and the capital formation process.

Federman & Sherwood Investigates Fidelity Investments Life Insurance for Data Breach

Retrieved on: 
Tuesday, March 5, 2024

The law firm of Federman & Sherwood has initiated an investigation into Fidelity Investments Life Insurance & Empire Fidelity Investments Life Insurance (“Fidelity Investments”) with respect to their recent data breach.

Key Points: 
  • The law firm of Federman & Sherwood has initiated an investigation into Fidelity Investments Life Insurance & Empire Fidelity Investments Life Insurance (“Fidelity Investments”) with respect to their recent data breach.
  • On March 1, Fidelity Investments notified individuals that the company experienced a data breach after an unauthorized party accessed sensitive consumer data entrusted to the company.
  • According to Fidelity Investments, they determined that information stored on their servers may have been subject to unauthorized access between October 29, 2023 and November 02, 2023.
  • Fidelity Investments determined that the information exposed in the data breach includes: name, Social Security number, date of birth, state of residence, and financial information (if you provided to make premium payments on your life insurance policy).

Fidelity Investments® Study Finds Three Key Money Moves That Minimize Financial Stress Among Women

Retrieved on: 
Friday, March 1, 2024

With financial stress a reality for more than 9-in-10 women, new research from Fidelity Investments® reveals the financial steps women can take to de-stress and increase their financial confidence.

Key Points: 
  • With financial stress a reality for more than 9-in-10 women, new research from Fidelity Investments® reveals the financial steps women can take to de-stress and increase their financial confidence.
  • Taking financial action, however, makes the biggest difference in decreasing stress, with women who made financial moves in the past 6 months indicating less stress than women who haven’t.
  • Once women save three months’ worth of emergency savings, only 1-in-4 women (26%) report high stress levels.
  • Saving for Retirement: Small increases in retirement savings can lead to big results when it comes to financial stress.

SundaySky Appoints Marc Zionts as CEO to Accelerate Next Phase of Enterprise Video Platform Growth

Retrieved on: 
Wednesday, February 28, 2024

SundaySky , the leading software-as-a-service (SaaS) platform for efficient enterprise video creation and personalization, announced today that it has appointed Marc Zionts as chief executive officer.

Key Points: 
  • SundaySky , the leading software-as-a-service (SaaS) platform for efficient enterprise video creation and personalization, announced today that it has appointed Marc Zionts as chief executive officer.
  • With significant experience leading software and technology businesses to superior outcomes, Zionts will lead SundaySky through its next phase of growth and innovation.
  • (Photo: Business Wire)
    “I’m delighted to welcome Marc to SundaySky as CEO.
  • Since Clearhaven’s investment in the company, we’ve been continually impressed with the innovation and ingenuity coming from the SundaySky team.

Fidelity® 2023 Retirement Analysis: Despite Uncertain Market Conditions, Retirement Savers Have Highest Account Balances in Nearly Two Years

Retrieved on: 
Tuesday, February 27, 2024

According to the latest retirement data from Fidelity Investments ®, even with other ongoing financial struggles, retirement savers ended the year on a positive note with improved market conditions and consistent contributions helping boost average account balances to their highest level in nearly two years.

Key Points: 
  • According to the latest retirement data from Fidelity Investments ®, even with other ongoing financial struggles, retirement savers ended the year on a positive note with improved market conditions and consistent contributions helping boost average account balances to their highest level in nearly two years.
  • Additionally, more than a third (37%) of workers increased their retirement savings contribution rate in 2023.
  • “This past year ended on a high note for retirement savers,” said Sharon Brovelli, president of Workplace Investing at Fidelity Investments.
  • 1 IRA provider2, go here to see Fidelity’s latest analysis of savings behaviors and account balances for more than 45 million IRA3, 401(k)4, and 403(b)5 retirement accounts.

MetLife Works with Fidelity Investments® to Offer Guaranteed Lifetime Income through New Retirement Solution

Retrieved on: 
Tuesday, February 27, 2024

To address these concerns and help retirees enjoy a more confident future, MetLife is working with Fidelity Investments® to offer the MetLife Guaranteed Income Program®, a fixed immediate income annuity, through Fidelity’s new retirement income solution, Guaranteed Income Direct.

Key Points: 
  • To address these concerns and help retirees enjoy a more confident future, MetLife is working with Fidelity Investments® to offer the MetLife Guaranteed Income Program®, a fixed immediate income annuity, through Fidelity’s new retirement income solution, Guaranteed Income Direct.
  • The passage of the Setting Every Community Up for Retirement Enhancement (SECURE) Act in late 2019 removed the fiduciary barriers to offering lifetime income solutions through the workplace.
  • The availability of MetLife’s guaranteed income offering through Fidelity’s Guaranteed Income Direct solution is designed to help expand access to immediate income annuities by allowing plan sponsors to easily offer retirement income options within their defined contribution (DC) plans.
  • “Through Guaranteed Income Direct, Fidelity has brought a powerful new solution to this market and this innovation makes vital protection products more accessible to employees.”

Tom Klonecki joins Benefitfocus as chief operating officer

Retrieved on: 
Thursday, February 22, 2024

Benefitfocus, one of the leading benefits administration providers in the industry, announced today that Tom Klonecki has joined the company as chief operating officer (COO), effective Feb. 26, 2024.

Key Points: 
  • Benefitfocus, one of the leading benefits administration providers in the industry, announced today that Tom Klonecki has joined the company as chief operating officer (COO), effective Feb. 26, 2024.
  • Klonecki will report to Andrew Frend, president, Benefitfocus.
  • As COO, Klonecki will oversee the teams that deliver implementation, client management, contact center support, data exchanges and administrative services for clients.
  • Klonecki will serve as a member of the Benefitfocus leadership team alongside Crystal Brown, senior vice president, health plan business; Ed Rumzis, chief technology officer; and Greg Mercer, senior vice president, sales.

Sensata Technologies Appoints John Mirshekari to Its Board of Directors

Retrieved on: 
Tuesday, February 20, 2024

Sensata Technologies Holding plc (NYSE: ST) today announced that John Mirshekari has been appointed to Sensata’s Board of Directors and to serve on the Growth & Innovation Committee and the Finance Committee, effective March 1, 2024.

Key Points: 
  • Sensata Technologies Holding plc (NYSE: ST) today announced that John Mirshekari has been appointed to Sensata’s Board of Directors and to serve on the Growth & Innovation Committee and the Finance Committee, effective March 1, 2024.
  • View the full release here: https://www.businesswire.com/news/home/20240220998110/en/
    Mr. Mirshekari brings more than two decades of finance, investment and strategic execution experience to Sensata’s Board of Directors.
  • “John brings decades of experience in business strategy, shareholder value creation and corporate governance, as well as an institutional investor,” said Andrew Teich, Chairman of the Board of Sensata.
  • On behalf of our Board, we welcome John, and I am confident that he will be a great addition to the Sensata team.”

Bryn Mawr Trust Announces Donald Lyons, CFP®, NSSA® and Angela S. Wagner, J.D., CEPA® as Senior Vice Presidents, Wealth Directors

Retrieved on: 
Tuesday, February 20, 2024

WSFS Financial Corporation (Nasdaq: WSFS), the parent company of Bryn Mawr Trust, is pleased to announce Donald Lyons, CFP®, NSSA® and Angela S. Wagner, J.D., CEPA® as Senior Vice Presidents, Wealth Directors in Berwyn, Pa.

Key Points: 
  • WSFS Financial Corporation (Nasdaq: WSFS), the parent company of Bryn Mawr Trust, is pleased to announce Donald Lyons, CFP®, NSSA® and Angela S. Wagner, J.D., CEPA® as Senior Vice Presidents, Wealth Directors in Berwyn, Pa.
  • In their roles, Lyons and Wagner will lead the Berwyn team of advice-driven, cross-functional advisors, including investment advisors and wealth trust advisors.
  • They will be responsible for delivering on the Client experience, business results, community visibility and brand development in the market.
  • “We’re thrilled to continue our growth with the appointment of Don to his new role and the hire of Angela,” said Jamie P. Hopkins, Senior Vice President, Director of Private Wealth Management.