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Amazon’s latest product category: Financial services
If supermarkets and large discount merchants can host bank branches in their stores, why not Amazon.com? The world`s largest e-retailer and Fidelity Investments have teamed up to offer a co-branded store, where Amazon shoppers can buy mutual funds and other products and services.
Just as supermarkets and large discount retailers host bank branches in their stores, Amazon.com last month opened a Fidelity Investments store at its web site. Fidelity, which manages more than $1.2 trillion in assets, will showcase 380 investment funds and other products on the site.
Fidelity, which also plans to advertise throughout Amazon.com, says its presence on the top online retail site will give it access to millions of customer prospects and complement its efforts to expand its customer base. The Fidelity-sponsored financial services store provides Amazon shoppers with full access to Fidelity’s retirement, mutual fund, brokerage, trading and college-saving products and services, plus information on tax tips and financial-advice books and a direct link to Fidelity.com. The store can be reached from Amazon’s home page by clicking “financial services” under the Amazon Services menu or the Fidelity Investments logo under the list of Amazon’s featured partners.