House of Fidelity: The Rise of the Johnson Dynasty and the Company That Changed American Investing: The Rise of the Johnson Dynasty and the Company That Changed American Investing

Description

The gripping, definitive account of the private family behind one of the most powerful financial institutions in the world.

"Pulls the curtain back on one of the country's most powerful and mysterious financial institutions ... It's a must read." ―William D. Cohan, New York Times bestselling author of Power Failure

When Edward C. Johnson 2d founded Fidelity in 1946, investing was a pursuit reserved for the elite. Today, more than $15 trillion flows through Fidelity's customer accounts and investment funds--touching the lives of one in five American adults. Fidelity helped invent modern retail investing: democratizing access to mutual funds, introducing the 401(k), and upending the need for traditional brokers. But behind the scenes of this financial juggernaut is a family saga unlike any other.

In House of Fidelity, veteran journalist Justin Baer tells the definitive story of the Johnsons--a New England dynasty that fiercely guarded control of their company while reshaping Wall Street. From the founder's bold leap into Boston's insular investing circles, to the meteoric rise of Peter Lynch, to behind-closed-doors battles over succession and legacy, Baer reveals a company and a family locked in a delicate balance of innovation, influence, and internal power struggles.

House of Fidelity is a sweeping history of American investing--and the dynasty that came to define it.