In 2005, Fidelity Investments entered India, tying up with only a handful of distributors while promising to eventually go directly to customers. “Fidelity ran full-page newspaper ads saying, ‘We are Fidelity’, and wanted investors to come directly. They empanelled only 50-100 distributors across India, apart from top banks,” said a distributor. However, later, Fidelity empanelled a lot of distributors, even beyond the top 30 cities.
