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Fidelity Expands OCIO Amid Client Access Restrictions

12/3/2025

Summary

Story summary

Fidelity Investments is expanding its outsourced chief investment officer (OCIO) business and has implemented a policy restricting independent financial advisors' access to clients' 401(k) accounts due to security concerns.
OCIO head Chris Pariseault notes growth from six clients in 2022 to more than 70 today, driven by demand from endowments and foundations.
New York City Comptroller Brad Lander has recommended divesting from Fidelity over its inadequate decarbonization plans.

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Story summary

Fidelity Investments is expanding its outsourced chief investment officer (OCIO) business and has implemented a policy restricting independent financial advisors' access to clients' 401(k) accounts due to security concerns.
OCIO head Chris Pariseault notes growth from six clients in 2022 to more than 70 today, driven by demand from endowments and foundations.
New York City Comptroller Brad Lander has recommended divesting from Fidelity over its inadequate decarbonization plans.