Richardcyoung.com

The Online Home of Author and Investor, Dick Young

  • Home
  • How We Are Different
  • Debbie Young
  • About Us
    • Foundation Principles
    • Contributors
  • Investing
    • You’ve Read The Last Issue of Intelligence Report, Now What?
  • Your Survival Guy
  • The Great Reset
  • The Swiss Way
  • My Rifles
  • Dividends and Compounding
  • Your Security
  • Dick Young
  • Key West
  • Paris
  • Dick’s R&B Top 100
  • Liberty & Freedom Map
  • Bank Credit & Money
  • Your Survival Guy’s Super States
  • NNT & Cholesterol
  • Your Health
  • Ron Paul
  • US Treasury Yield Curve: My Favorite Investor Tool
  • Anti-Gun Control
  • Anti-Digital Currency
  • World Gold Mine Production

Richard Young Reports: 50+ Years with Fidelity and Wellington

May 10, 2021 By Richard C. Young

Dick Young

I started in the institutional research and trading investment business at Model Roland & Co. on Federal St. in Boston in August 1971. Just up the street from Model were Fidelity Investments, and Wellington Management, both of whom I called on from my very first hours on the job.

Over five decades ago, Ned Johnson, aka “Mister Johnson,” ran the show at Fidelity. Jack Bogle, “Mr. Mutual Fund,” had not yet left Wellington to start Vanguard.

My focus in the initial going was international research and trading, and remains so today all these decades later. I still consider Fidelity and Wellington the industry leaders.

Both firms feature great cultures, industry-leading technology, well-rounded investment programs for individuals, families, and small businesses–the type of folk I hoped to be associated with throughout my investment career.

Not a business day goes by that one of my associated companies is not involved with one or more of Fidelity or Wellington’s services.

I never would have expected, as I started out in August 1971, that I would be working with Fidelity and Wellington for over 50 years.

In Wellington’s case it, to this day, manages hundreds of billions of dollars in blue-chip, “prudent man rule” quality investment mutual funds.

In the early ’90s, Wellington’s chief investor relations officer informed me that I directed more mutual fund assets Wellington’s way in a given year than did the rest of the combined American investment newsletter industry.

And now in 2021, with our little family investment management company requiring a cutting-edge custodian for our $1.3 billion-dollar conservative Boston-style management company we, not surprisingly, rely on Fidelity.

Your Survival Guy, hard to believe, joined my family business over two decades ago. But before that, he was at Fidelity which he too recalls as being run like a family business. He writes:

When I joined the family business [Fidelity], I was Fidelity employee number twenty-something-thousand. I helped customers/participants of Fortune 500 companies manage their money in this fairly new savings vehicle known by its IRS code: 401(k). It turned out to be a thing. I’ll always remember how CEO Ned Johnson III ran the firm like the family business that it was.

In memos to employees, Mr. Johnson wrote to you as if you were seated around him at the dinner table. Business first, then, after some red wine and dessert (and maybe a piece of dark chocolate for digestion; because he was into taking care of one’s health) he’d leave you with something to think about—like his favored Japanese philosophy Kaizen, meaning constant improvement. Reading his memo in my little cubicle, not at his dinner table, I truly believed that through small steps—like compound interest—I could become the best version of myself. Then it was back to stuffing checks into envelopes.

We need to be reminded of this in times like these. Because when a video game company you typically see at the Mall can stop the market in its tracks, you need to figure out if you’re doing everything you can to protect your money. Are you with an investment company that treats you like a family member? Take a look at the brokerage firms selling their clients’ (I hope not yours) trading patterns to their other customers—these are household names that may (or may not) surprise you. Pay attention.

Action Line: Get your money with a firm that treats you like family. Too many investment firms are profiting from you, for example, with your information without you even knowing it. And don’t get me started on how they use your cash to lend out to others and pocket the profit.

P.S. Read more about how I got my start at Model Roland & Co. back in 1971, and gold’s 50-year price explosion.

Originally posted on Young’s World Money Forecast.

If you’re willing to fight for Main Street America, click here to sign up for my free weekly email.

Related Posts

  • After Seven Years, This Is What the GOP Has Come Up With?
  • VIDEO: Trump Owns 60 Minutes
  • Are Gay Relationships Immoral?
  • Trump’s America First Appeal
  • Author
  • Recent Posts
Richard C. Young
Richard C. Young
Richard C. Young is the editor of Young's World Money Forecast, and a contributing editor to both Richardcyoung.com and Youngresearch.com.
Richard C. Young
Latest posts by Richard C. Young (see all)
  • LIKE FATHER LIKE SON: RFK Jr. Opposes Left Wing Fanaticism - May 30, 2023
  • Preserving Liberty Through Homeschooling - May 30, 2023
  • Will Anyone from the FBI Be Held Accountable for the Russiagate Hoax? - May 29, 2023

Dick Young’s Must Reads

  • CONSTITUTIONAL CARRY: Alabama Becomes 22nd Permitless Carry State
  • You’re Ready to “Make It a Good Month”
  • Globalism Has Made America Dependent on Foreign Countries
  • What to Do about China?
  • ENERGY FREEDOM ACT: Ted Cruz Introduces Bill for Energy Independence
  • For Whom Is Your Portfolio Serving?
  • Rich States, Poor States this State is Dominant Once Again
  • Vermont Abandoned, Dairy Farm Economy Devastated
  • Yes, Your Children Are Listening to You
  • Why Some Kids Won’t Go Back to School, Ever

Our Most Popular Posts

  • Joe Biden’s Death Warrant for Fossil Fuel Plants
  • Why Democrats Are Terrified of Robert F. Kennedy Jr.
  • Will Anyone from the FBI Be Held Accountable for the Russiagate Hoax?
  • America’s Favorite Wordsmith Needs Tutoring
  • Why Be Proud?
  • Letter to the Federal Reserve Chairman from Your Survival Guy
  • Pushing the Envelope Too Far
  • Barnett: "None Are Exempt from this Magnificent Hypocrisy"
  • Lawless Intrusion into Your Kitchen
  • A Three-Week International Research Trip to Paris via Rome

Disclosure

RSS Youngresearch.com

  • Happy Memorial Day!
  • Your Survival Guy in Rome 30-Years A.B. (After Babson)
  • Money Market Assets Hit Record High: $5.4 Trillion
  • A Three-Week International Research Trip to Paris via Rome
  • The Mania in AI Stocks Has Arrived
  • What Does That Have to Do with Your Dividend?
  • The Wisdom of Sam Zell
  • How Activists Have Weaponized Corporate Boards
  • Is an Investment Property Disaster Looming?
  • Letter to the Federal Reserve Chairman from Your Survival Guy

RSS Yoursurvivalguy.com

  • Happy Memorial Day: Your Survival Guy: Proud To Be an American
  • Your Survival Guy in Rome 30-Years A.B. (After Babson)
  • Insurers Now Fleeing the Net Zero Insurance Alliance
  • A Three-Week International Research Trip to Paris via Rome
  • Will Biden Repeat Obama with US Debt Downgrade?
  • What Does That Have to Do with Your Dividend?
  • The ESG Cartel
  • Two More States Nearing Passage of Permitless Carry Legislation
  • How Activists Have Weaponized Corporate Boards
  • Letter to the Federal Reserve Chairman from Your Survival Guy

Commemorating Memorial Day

LIKE FATHER LIKE SON: RFK Jr. Opposes Left Wing Fanaticism

Preserving Liberty Through Homeschooling

Joe Biden’s Death Warrant for Fossil Fuel Plants

Will Anyone from the FBI Be Held Accountable for the Russiagate Hoax?

A Memorial Day Message

Copyright © 2023 | Terms & Conditions | About Us | Dick Young | Archives