Municipal Finance
Powering financial success for municipal issuers
In 2025, our targeted marketing, investor education, and sales efforts generated over 27,000 retail orders totaling $1.4 billion.
Our municipal underwriting capabilities are focused on helping issuers achieve public financing objectives for critical infrastructure through retail investor engagement.
Vast retail network to drive bond sales
Individual investors
57 million customers are supported with 215 investor centers nationwide1
Professional investors
3,400 wealth advisor firms have a relationship with us2
High-net-worth investors
8,366 households are supported with investment guidance by a specialized sales and service team, including fixed income solutions3
Unparalleled, powerful digital resources to learn about and access new issue munis
- Self-directed online purchase of new issue munis with an easy-to-use portal on
Fidelity.com - 43.4 million unique visitors engage with us digitally for online support and easy execution1
- Best Online Broker, Fidelity.com rated by StockBrokers.com as best-in-class overall for 2025 and 2026
- 74,000 targeted investors, including high-net-worth clients, have access to municipal bond interactive conference calls and alerts
- State locator online tool to research Fidelity's investor centers near the issuer (215 nationwide)
Fidelity’s investor centers
National Financial Services LLC (NFS), the broker dealer of Fidelity Capital Markets, maintains total assets and net excess capital in the billions. Our fixed income trading desks offer substantial balance sheet capacity with a significant allocation to municipal underwriting and secondary market trading.
The Muni Curve Digest is prepared by the Fidelity Capital Markets' Fixed Income Strategy Team and delivers timely market analysis and insights.
Want to know more?
Reach out to the Fidelity Capital Markets’ Municipal Finance team for a consultation about public finance.
1. 2025 Annual Report. Digital engagement includes Fidelity.com, NetBenefits, Wealthscape or mobile apps.
2. Fidelity Investments as of 6/30/26.
3. Fidelity Investments. Data provided by High Net Worth Desk as of 7/31/26.
Fidelity Capital Markets and its affiliates are not acting as a “municipal advisor” within the meaning of Section 15B of the Securities Exchange Act of 1934, as amended (the “Act”), and do not act in a fiduciary capacity or duty pursuant to the Act with respect to the information and material contained in this communication.