FIDELITY FINANCIAL TRUST
NSAR-A, 1997-07-30
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<PAGE>      PAGE  1
000 A000000 05/31/97
000 C000000 0000708191
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 A
001 A000000 FIDELITY FINANCIAL TRUST
001 B000000 811-3587
001 C000000 6175631413
002 A000000 82 DEVONSHIRE STREET
002 B000000 BOSTON
002 C000000 MA
002 D010000 02109
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
007 B000000  3
007 C010100  1
007 C020100 FIDELITY RETIREMENT GROWTH FUND
007 C030100 N
007 C010200  2
007 C020200 FIDELITY CONVERTIBLE SECURITIES FUND
007 C030200 N
007 C010300  3
007 C020300 FIDELITY EQUITY-INCOME II FUND
007 C030300 N
007 C010400  4
007 C010500  5
007 C010600  6
007 C010700  7
007 C010800  8
007 C010900  9
007 C011000 10
008 A00AA01 FIDELITY MANAGEMENT & RESEARCH COMPANY
008 B00AA01 A
008 C00AA01 801-7884
008 D01AA01 BOSTON
008 D02AA01 MA
008 D03AA01 02109
008 A00AA02 FIDELITY MANAGEMENT & RESEARCH (U.K.) INC.
008 B00AA02 S
008 C00AA02 801-28773
008 D01AA02 LONDON
008 D05AA02 ENGLAND
008 A00AA03 FIDELITY MANAGEMENT & RESEARCH (FAR EAST) INC
008 B00AA03 S
<PAGE>      PAGE  2
008 C00AA03 801-28774
008 D01AA03 TOKYO
008 D05AA03 JAPAN
011 A00AA01 FIDELITY DISTRIBUTORS CORPORATION
011 B00AA01 8-8775
011 C01AA01 BOSTON
011 C02AA01 MA
011 C03AA01 02109
012 A00AA01 FIDELITY SERVICE COMPANY, INC.
012 B00AA01 84-00216
012 C01AA01 BOSTON
012 C02AA01 MA
012 C03AA01 02109
013 A00AA01 PRICE WATERHOUSE, LLP
013 B01AA01 BOSTON
013 B02AA01 MA
013 B03AA01 02109
014 A00AA01 FIDELITY BROKERAGE SERVICES, INC.
014 B00AA01 8-23292
014 A00AA02 FIDELITY BROKERAGE SERVICES
014 B00AA02 8-00000
014 A00AA03 FIDELITY DISTRIBUTORS CORPORATION
014 B00AA03 8-8775
018  00AA00 Y
019 A00AA00 Y
019 B00AA00  237
019 C00AA00 FIDELITYZZ
020 A000001 FIDELITY BROKERAGE SERVICES, INC.
020 B000001 04-2653569
020 C000001   3492
020 A000002 DONALDSON, LUFKIN & JENRETTE SECURITIES CORP.
020 B000002 13-2741729
020 C000002   1067
020 A000003 MORGAN STANLEY & CO., INC.
020 B000003 13-2655998
020 C000003    891
020 A000004 SCHRODER WERTHEIM & CO., INC.
020 B000004 13-2697272
020 C000004    891
020 A000005 MORGAN (J.P.) SECURITIES INC.
020 B000005 13-3224016
020 C000005    762
020 A000006 UBS SECURITIES, INC.
020 B000006 13-2932996
020 C000006    724
020 A000007 MERRILL, PIERCE, FENNER & SMITH, INC.
020 B000007 13-5674085
020 C000007    695
020 A000008 ALEX BROWN & SONS, INC.
020 B000008 52-1319768
020 C000008    580
<PAGE>      PAGE  3
020 A000009 GOLDMAN SACHS & CO.
020 B000009 13-5108880
020 C000009    498
020 A000010 LEHMAN BROTHERS INC.
020 B000010 13-2518466
020 C000010    478
021  000000    17824
022 A000001 TAXABLE CENTRAL CASH FUND
022 B000001 04-3331103
022 C000001   3248657
022 D000001   3424467
022 A000002 SMITH BARNEY, INC.
022 B000002 13-1912900
022 C000002    157154
022 D000002    267645
022 A000003 GOLDMAN SACHS & CO.
022 B000003 13-5108880
022 C000003    184690
022 D000003    172154
022 A000004 MERRILL LYNCH, PIERCE, FENNER & SMITH, INC.
022 B000004 13-5674085
022 C000004    149451
022 D000004    184286
022 A000005 MORGAN STANLEY & CO., INC.
022 B000005 13-2655998
022 C000005     70785
022 D000005    148187
022 A000006 CONTRAFUND INC.
022 B000006 04-6056833
022 C000006     61333
022 D000006     76510
022 A000007 SALOMON BROTHERS INC.
022 B000007 13-3082694
022 C000007     44859
022 D000007     75423
022 A000008 CS FIRST BOSTON CORP.
022 B000008 14-1391446
022 C000008     61898
022 D000008     53412
022 A000009 BEAR, STEARNS & CO., INC.
022 B000009 13-3299429
022 C000009     34812
022 D000009     54996
022 A000010 DONALDSON, LUFKIN & JENRETTE SECURITIES CORP.
022 B000010 13-2741729
022 C000010     27419
022 D000010     60331
023 C000000    9752813
023 D000000    5560872
026 A000000 Y
026 B000000 Y
<PAGE>      PAGE  4
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<PAGE>      PAGE  5
054 B00AA00 Y
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<PAGE>      PAGE  6
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058 A000100 N
<PAGE>      PAGE  7
059  000100 Y
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060 B000100 Y
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<PAGE>      PAGE  8
070 I010100 Y
070 I020100 N
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070 J020100 Y
070 K010100 Y
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070 L010100 Y
070 L020100 Y
070 M010100 Y
070 M020100 Y
070 N010100 Y
070 N020100 N
070 O010100 Y
070 O020100 Y
070 P010100 Y
070 P020100 Y
070 Q010100 Y
070 Q020100 N
070 R010100 Y
070 R020100 N
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<PAGE>      PAGE  9
072BB000100        0
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015 A000201 BROWN BROTHERS HARRIMAN & CO.
015 B000201 C
015 C010201 BOSTON
015 C020201 MA
015 C030201 02109
015 E010201 X
<PAGE>      PAGE  10
024  000200 Y
025 A000201 TAXABLE CENTRAL CASH FUND
025 B000201 04-3331103
025 C000201 D
025 D000201  102381
025 A000202 SALOMON, INC. $2.03
025 B000202 00-0000000
025 C000202 E
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025 A000203 SALOMON, INC. $3.484
025 B000203 00-0000000
025 C000203 E
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<PAGE>      PAGE  11
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055 B000200 N
056  000200 Y
057  000200 N
058 A000200 N
059  000200 Y
060 A000200 Y
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062 C000200   0.0
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066 C000200 N
066 D000200 N
066 E000200 N
066 F000200 N
066 G000200 Y
067  000200 N
068 A000200 N
<PAGE>      PAGE  12
068 B000200 N
069  000200 N
070 A010200 Y
070 A020200 Y
070 B010200 Y
070 B020200 N
070 C010200 Y
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070 D010200 Y
070 D020200 N
070 E010200 Y
070 E020200 N
070 F010200 Y
070 F020200 N
070 G010200 Y
070 G020200 N
070 H010200 Y
070 H020200 N
070 I010200 Y
070 I020200 N
070 J010200 Y
070 J020200 Y
070 K010200 Y
070 K020200 Y
070 L010200 Y
070 L020200 Y
070 M010200 Y
070 M020200 Y
070 N010200 Y
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<PAGE>      PAGE  13
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<PAGE>      PAGE  14
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015 A000301 CHASE MANHATTAN BANK, N.A.
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<PAGE>      PAGE  15
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<PAGE>      PAGE  16
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<PAGE>      PAGE  17
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<PAGE>      PAGE  18
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084 B000300        0
SIGNATURE   JOHN H. COSTELLO                             
TITLE       ASST. TREASURER     
 


<TABLE> <S> <C>

<ARTICLE> 6
 

<CIK>     0000708191


<NAME>      Fidelity Financial Trust


<SERIES>

        <NUMBER>        1


        <NAME>      Fidelity Retirement Growth Fund


<MULTIPLIER>    1,000


       

<S>

<C>

<PERIOD-TYPE>

6-mos


<FISCAL-YEAR-END>

nov-30-1997


<PERIOD-END>

may-31-1997


<INVESTMENTS-AT-COST>

3,368,413


<INVESTMENTS-AT-VALUE>

3,786,396


<RECEIVABLES>

216,761


<ASSETS-OTHER>

0


<OTHER-ITEMS-ASSETS>

0


<TOTAL-ASSETS>

4,003,157


<PAYABLE-FOR-SECURITIES>

99,019


<SENIOR-LONG-TERM-DEBT>

0


<OTHER-ITEMS-LIABILITIES>

34,447


<TOTAL-LIABILITIES>

133,466


<SENIOR-EQUITY>

0


<PAID-IN-CAPITAL-COMMON>

3,179,500


<SHARES-COMMON-STOCK>

208,317


<SHARES-COMMON-PRIOR>

209,852


<ACCUMULATED-NII-CURRENT>

14,977


<OVERDISTRIBUTION-NII>

0


<ACCUMULATED-NET-GAINS>

257,239


<OVERDISTRIBUTION-GAINS>

0


<ACCUM-APPREC-OR-DEPREC>

417,975


<NET-ASSETS>

3,869,691


<DIVIDEND-INCOME>

23,259


<INTEREST-INCOME>

5,059


<OTHER-INCOME>

0


<EXPENSES-NET>

12,108


<NET-INVESTMENT-INCOME>

16,210


<REALIZED-GAINS-CURRENT>

277,956


<APPREC-INCREASE-CURRENT>

(104,949)


<NET-CHANGE-FROM-OPS>

189,217


<EQUALIZATION>

0


<DISTRIBUTIONS-OF-INCOME>

53,940


<DISTRIBUTIONS-OF-GAINS>

425,250


<DISTRIBUTIONS-OTHER>

0


<NUMBER-OF-SHARES-SOLD>

13,514


<NUMBER-OF-SHARES-REDEEMED>

42,696


<SHARES-REINVESTED>

27,647


<NET-CHANGE-IN-ASSETS>

(335,659)


<ACCUMULATED-NII-PRIOR>

52,707


<ACCUMULATED-GAINS-PRIOR>

404,533


<OVERDISTRIB-NII-PRIOR>

0


<OVERDIST-NET-GAINS-PRIOR>

0


<GROSS-ADVISORY-FEES>

8,160


<INTEREST-EXPENSE>

2


<GROSS-EXPENSE>

12,737


<AVERAGE-NET-ASSETS>

3,935,905


<PER-SHARE-NAV-BEGIN>

20.040


<PER-SHARE-NII>

 .070


<PER-SHARE-GAIN-APPREC>

 .780


<PER-SHARE-DIVIDEND>

 .260


<PER-SHARE-DISTRIBUTIONS>

2.050


<RETURNS-OF-CAPITAL>

0


<PER-SHARE-NAV-END>

18.580


<EXPENSE-RATIO>

65


<AVG-DEBT-OUTSTANDING>

0


<AVG-DEBT-PER-SHARE>

0



        



</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
 

<CIK>     0000708191


<NAME>      Fidelity Financial Trust


<SERIES>

        <NUMBER>        2


        <NAME>      Fidelity Convertible Securities Fund


<MULTIPLIER>    1,000


       

<S>

<C>

<PERIOD-TYPE>

6-mos


<FISCAL-YEAR-END>

nov-30-1997


<PERIOD-END>

may-31-1997


<INVESTMENTS-AT-COST>

991,957


<INVESTMENTS-AT-VALUE>

1,076,954


<RECEIVABLES>

20,478


<ASSETS-OTHER>

1,384


<OTHER-ITEMS-ASSETS>

0


<TOTAL-ASSETS>

1,098,816


<PAYABLE-FOR-SECURITIES>

10,685


<SENIOR-LONG-TERM-DEBT>

0


<OTHER-ITEMS-LIABILITIES>

6,776


<TOTAL-LIABILITIES>

17,461


<SENIOR-EQUITY>

0


<PAID-IN-CAPITAL-COMMON>

961,712


<SHARES-COMMON-STOCK>

59,360


<SHARES-COMMON-PRIOR>

61,567


<ACCUMULATED-NII-CURRENT>

8,870


<OVERDISTRIBUTION-NII>

0


<ACCUMULATED-NET-GAINS>

25,776


<OVERDISTRIBUTION-GAINS>

0


<ACCUM-APPREC-OR-DEPREC>

84,997


<NET-ASSETS>

1,081,355


<DIVIDEND-INCOME>

11,015


<INTEREST-INCOME>

14,517


<OTHER-INCOME>

0


<EXPENSES-NET>

4,359


<NET-INVESTMENT-INCOME>

21,173


<REALIZED-GAINS-CURRENT>

26,443


<APPREC-INCREASE-CURRENT>

3,746


<NET-CHANGE-FROM-OPS>

51,362


<EQUALIZATION>

0


<DISTRIBUTIONS-OF-INCOME>

27,678


<DISTRIBUTIONS-OF-GAINS>

49,453


<DISTRIBUTIONS-OTHER>

0


<NUMBER-OF-SHARES-SOLD>

11,512


<NUMBER-OF-SHARES-REDEEMED>

17,827


<SHARES-REINVESTED>

4,108


<NET-CHANGE-IN-ASSETS>

(66,172)


<ACCUMULATED-NII-PRIOR>

15,316


<ACCUMULATED-GAINS-PRIOR>

68,882


<OVERDISTRIB-NII-PRIOR>

0


<OVERDIST-NET-GAINS-PRIOR>

0


<GROSS-ADVISORY-FEES>

2,876


<INTEREST-EXPENSE>

1


<GROSS-EXPENSE>

4,411


<AVERAGE-NET-ASSETS>

1,094,976


<PER-SHARE-NAV-BEGIN>

18.640


<PER-SHARE-NII>

 .340


<PER-SHARE-GAIN-APPREC>

 .500


<PER-SHARE-DIVIDEND>

 .450


<PER-SHARE-DISTRIBUTIONS>

 .810


<RETURNS-OF-CAPITAL>

0


<PER-SHARE-NAV-END>

18.220


<EXPENSE-RATIO>

81


<AVG-DEBT-OUTSTANDING>

0


<AVG-DEBT-PER-SHARE>

0



        



</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
 

<CIK>     0000708191


<NAME>      Fidelity Financial Trust


<SERIES>

        <NUMBER>        3


        <NAME>      Fidelity Equity-Income II Fund


<MULTIPLIER>    1,000


       

<S>

<C>

<PERIOD-TYPE>

6-mos


<FISCAL-YEAR-END>

nov-30-1997


<PERIOD-END>

may-31-1997


<INVESTMENTS-AT-COST>

12,071,415


<INVESTMENTS-AT-VALUE>

15,653,691


<RECEIVABLES>

284,933


<ASSETS-OTHER>

0


<OTHER-ITEMS-ASSETS>

0


<TOTAL-ASSETS>

15,938,624


<PAYABLE-FOR-SECURITIES>

139,777


<SENIOR-LONG-TERM-DEBT>

0


<OTHER-ITEMS-LIABILITIES>

33,770


<TOTAL-LIABILITIES>

173,547


<SENIOR-EQUITY>

0


<PAID-IN-CAPITAL-COMMON>

11,255,512


<SHARES-COMMON-STOCK>

604,406


<SHARES-COMMON-PRIOR>

619,727


<ACCUMULATED-NII-CURRENT>

42,909


<OVERDISTRIBUTION-NII>

0


<ACCUMULATED-NET-GAINS>

884,524


<OVERDISTRIBUTION-GAINS>

0


<ACCUM-APPREC-OR-DEPREC>

3,582,132


<NET-ASSETS>

15,765,077


<DIVIDEND-INCOME>

146,488


<INTEREST-INCOME>

44,167


<OTHER-INCOME>

0


<EXPENSES-NET>

52,432


<NET-INVESTMENT-INCOME>

138,223


<REALIZED-GAINS-CURRENT>

892,918


<APPREC-INCREASE-CURRENT>

402,906


<NET-CHANGE-FROM-OPS>

1,434,047


<EQUALIZATION>

0


<DISTRIBUTIONS-OF-INCOME>

166,306


<DISTRIBUTIONS-OF-GAINS>

715,007


<DISTRIBUTIONS-OTHER>

0


<NUMBER-OF-SHARES-SOLD>

64,285


<NUMBER-OF-SHARES-REDEEMED>

115,023


<SHARES-REINVESTED>

35,417


<NET-CHANGE-IN-ASSETS>

169,051


<ACCUMULATED-NII-PRIOR>

70,992


<ACCUMULATED-GAINS-PRIOR>

819,191


<OVERDISTRIB-NII-PRIOR>

0


<OVERDIST-NET-GAINS-PRIOR>

0


<GROSS-ADVISORY-FEES>

38,144


<INTEREST-EXPENSE>

0


<GROSS-EXPENSE>

53,853


<AVERAGE-NET-ASSETS>

15,217,444


<PER-SHARE-NAV-BEGIN>

25.170


<PER-SHARE-NII>

 .220


<PER-SHARE-GAIN-APPREC>

2.120


<PER-SHARE-DIVIDEND>

 .270


<PER-SHARE-DISTRIBUTIONS>

1.160


<RETURNS-OF-CAPITAL>

0


<PER-SHARE-NAV-END>

26.080


<EXPENSE-RATIO>

71


<AVG-DEBT-OUTSTANDING>

0


<AVG-DEBT-PER-SHARE>

0



        



</TABLE>


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