The world's largest online retailer will be offering its customers the products of the world's biggest mutual fund company, Reuters reports, citing Fidelity Investments' announcement that it plans to sponsor a financial services store on Amazon.com. "This will be a virtual store with a lot of foot-traffic," Fidelity spokesman Adam Banker said of the deal, which also includes advertising on the Amazon site.
Fidelity manages more than $1 trillion in assets and is making an aggressive push for new customers; it has hired former Beatle Paul McCartney to appear in ads aimed at baby boomers.
Recent Amazon coverage:
- Amazon Considering Movie Download Service
- Toys 'R' Us, Amazon.com to Go Separate Ways
- Amazon to Take on iTunes, iPod
- Amazon to Launch Contextual Ad Network with Affiliates
- A Thousand Authors Blogging on Amazon
