Fidelity in 2024: Industry trends, innovations and more – Dave Bushnell and Andrew Clee

On the program today, Senior Vice President of Advisor Sales and Vice President of Product Andrew Clee join host Pamela Ritchie to discuss industry trends, innovations and what advisors should keep top of mind in 2024. Andrew and Dave begin by commenting on the whirlwind that was 2023. Dave highlights GICs and GICs high interest savings accounts as a dominant topic amongst advisors and Andrew adds that we experienced two different markets in one year and it didn’t look promising until about mid-October. Andrew also adds we saw a double digit return in the last quarter of the year with big tech names ending on a high note. So, most of the year-to-date gains came in a short period of time. Andrew says for bonds although it didn’t do so well in 2023, the returns did come significantly in a short period of time. Andrew adds that the key is to stay invested rather than trying to time things out. Dave highlights a good strategy for 2024 - that is to leverage the Fidelity sales team as much as possible. Andrew adds to look at the redeployment of higher interest savings, GICs, and traditional 60-40 asset classes. He says to start thinking about reinvestment risk from an interest rate standpoint rather than the total return over the next twelve months.

Recorded on January 16, 2024.

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