I've copied this link from FundAlarm's "Ted".* (For those of you who don't read FundAlarm, Ted has bookmarked over 350 financial publications that he runs through daily, and he probably puts up over 25 posts a day to create one of the world's best financial digests.)* I get a lot of my best reading done with Ted.
Abby Johnson has basically left Fidelity's mutual-fund management division and is now running their "employer services".* (Fidelity makes most of their money from running 401(k)s).* Her successor has made sweeping changes and she's given up a lot of her equity as part of the move, so there's been some debate that she's not getting along with dear ol' 75-year-old super-controlling dad.
Or maybe she is.* By resigning from Fidelity's board without a replacement
, 77 percent of the trustees' members will be independent-- up from 71 percent and above the 75 percent threshold called for by new SEC rules.
In a stunning coincidence, 77% of the Nords family's net worth is with Fidelity this year, up from 71%.* I guess that means that they're aligned with our best interests?