Talking and Texting Is So 2009

Nearly two out of three adult cellphone owners use their phones to go online, research says.
The 63% of cellphone users who go online is nearly double the number that did so five years ago, when Pew started tracking Internet usage on cellphones.
 
More than a fifth (21%) of all adult cell owners now do most of their online browsing using a mobile phone instead of another device, such as a desktop or laptop computer.
 
The survey of 2,252 American adults (including 1,127 interviews conducted on the respondent’s cell phone) showed that adults age 18 to 29, the college-educated, the more affluent, and urban and suburban-dwellers are especially likely to use their phones for more than just talking or text messaging.
 
Texting continues to be one of the most prevalent activities. Fully 81% of cell owners text, especially younger adults, the college-educated and those living in higher-income households.
 
African-Americans and Hispanics are more likely to access the Internet on their phones than are whites, as are younger adults, those with at least some college education and those with an annual household income exceeding $75,000 a year. Those who live in rural areas are less likely than urban or suburbanites to have mobile Internet access.
 
Of those who use the Internet or email on their phones, more than a third (34%) say that they mostly access the Internet from their phone.
 
African-Americans, Hispanics, young adults, those with lower levels of education and those living in lower-income households are especially likely to say their cell phone is their primary point of Internet access.
 
Half of cell owners send or receive email from their phone. The activity is most popular among younger adults, the well-educated, those in higher income brackets and urban and suburban-dwellers.
 
Half of cell owners download apps to their phone. Adults 18 to 29, the well-educated, those with higher incomes and those living in urban and suburban areas are particularly likely to download apps.
 
Almost half (49%) of cell owners have used their phones to look up directions, recommendations and other information related to their location. Young adults, those who are well-educated, higher income, and urban and suburban residents are most likely to do so.
 
The cell phone is all about music, for some users. About half of cell owners (48%) listen to music on their phones. Men, younger adults, those living in households with an annual income over $75,000, and urban and suburban residents are particularly likely to do so. African-Americans and Hispanics are more likely than whites to listen to music on their phones.

Fidelity to Lose Asset Management Chief

Ron O’Hanley, who heads asset management and corporate services at Fidelity Investments, will leave the firm at the end of February.

Fidelity president Abby Johnson announced O’Hanley’s pending departure in a letter sent to company employees. In the letter, Johnson credits O’Hanley with helping to stabilize and revitalize the organization after the 2008-2009 financial crisis.

“Having achieved much of what he intended to do, Ron has decided that it’s now time for him to move on,” Johnson writes. “The Asset Management organization is performing well and is well-positioned for continued success.”

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It’s been a relatively short tenure with Fidelity for O’Hanley. He first joined the company in 2010, after serving as chief executive for BNY Asset Management.

During his work with Fidelity, O’Hanley led the globalization of investment teams and helped drive improved performance across asset classes, Vincent G. Loporchio, senior vice president for corporate media relations, tells PLANADVISER.

O’Hanley also piloted enhancements to both new and existing products, Loporchio says. These include the expansion of Fidelity’s sector business with 10 new passive-sector ETFs; SEC [Securities and Exchange Commission] filings for five active fixed-income ETFs; the Fidelity Event Driven Opportunities Fund; the allocation of assets in Fidelity’s managed account offering to alternative-like mutual funds from Blackstone and Arden; and enhancements to Fidelity’s target-date fund glide path based on extensive research and analysis.

O’Hanley will remain with Fidelity through February to assist in the transition to new leadership for the asset management business. He wrote in a separate letter to Fidelity employees that he plans to spend more time with his family, and with a few nonprofits that are “very important to him.”

Johnson says in her letter that the company expects to name an internal successor in the coming weeks.

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