Amazon.com's ever-expanding world of products now will include Fidelity Investments funds. The online seller has entered into a marketing agreement – one that Reuters says will last at least a year – that will give the Boston-based investment giant access to Amazon's 55 million customers, advancing Fido's effort to remain top dog among mutual fund firms.
Reuters says Fidelity started offering college plans and retirement plans on Amazon.com two weeks ago, and there are no reported figures yet on the traffic. One analyst seemed skeptical about the success of such a campaign. "Why would a consumer go to Amazon to sign up with Fidelity?" Scott Devitt of Stifel Nicolaus told Reuters. ""It sounds interesting but why? What's the value proposition?"