Founded in 1946 by Edward C. Johnson II, Fidelity Management and Research LLC (FMR), known as Fidelity Investments, is a privately-held financial services and investment management company based in Boston, MA. With more than 300 Fidelity mutual funds, Fidelity Investments administers assets of approximately $3.4 trillion. Fidelity Investments offers investment management, retirement planning, portfolio guidance, brokerage, benefits outsourcing, and other financial products and services to more than 20 million individuals and institutions.