Boston Firm Looks to Break Up Investment Banks Monopoly

Boston Firm Looks to Break Up Investment Banks Monopoly

Fidelity Investments of Boston held a conference yesterday, with the aim to encourage investors to choose an alternative to the traditional route to an IPO. Fidelity wants to break the monopoly of the cartel of investment banks that have a hold on public offerings and is suggesting that entrepreneurs look to online IPOs as a lower cost and more flexible route. Fidelity is one of the largest retail brokerages and wants to be able to offer more IPO shares to its customer base of 20 million but says it cannot generally get access to enough. Read the full story.