FIDELITY FINANCIAL TRUST
NSAR-B, 1998-01-29
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<PAGE>      PAGE  1
000 B000000 11/30/97
000 C000000 0000708191
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000 J000000 A
001 A000000 FIDELITY FINANCIAL TRUST
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001 C000000 6175631952
002 A000000 82 DEVONSHIRE STREET
002 B000000 BOSTON
002 C000000 MA
002 D010000 02109
003  000000 N
004  000000 N
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006  000000 N
007 A000000 Y
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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
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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.
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014 A00AA02 FIDELITY BROKERAGE SERVICES
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020 A000002 DONALDSON, LUFKIN & JENRETTE SECURITIES CORP.
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020 C000002   2129
020 A000003 SCRODER WERTHIEM & CO., INC.
020 B000003 13-2697272
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020 A000004 MORGAN STANLEY & CO., INC.
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020 A000005 MERRILL, PIERCE, FENNER & SMITH, INC.
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020 A000007 ALEX BROWN & SONS, INC.
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020 C000007   1131
020 A000008 GOLDMAN SACHS & CO.
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<PAGE>      PAGE  3
020 A000009 CS FIRST BOSTON CORP.
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020 A000010 UBS SECURITIES, INC.
020 B000010 13-3873456
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022 A000003 MERRILL LYNCH, PIERCE, FENNER & SMITH, INC.
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022 A000004 GOLDMAN SACHS & CO
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022 A000005 MORGAN STANLEY & CO., INC.
022 B000005 13-2655998
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022 A000008 DONALDSON, LUFKIN & JENRETTE SECURITIES CORP.
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<PAGE>      PAGE  4
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<PAGE>      PAGE  5
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<PAGE>      PAGE  6
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<PAGE>      PAGE  7
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<PAGE>      PAGE  8
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<PAGE>      PAGE  9
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<PAGE>      PAGE  11
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<PAGE>      PAGE  12
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<PAGE>      PAGE  13
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<PAGE>      PAGE  14
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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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074 J000300    35437
074 K000300        0
074 L000300    44166
074 M000300        0
074 N000300 16778980
074 O000300    97040
074 P000300     6791
074 Q000300        0
074 R010300        0
074 R020300        0
074 R030300        0
074 R040300    24767
074 S000300        0
074 T000300 16650382
074 U010300   577900
074 U020300        0
074 V010300    28.81
074 V020300     0.00
074 W000300   0.0000
074 X000300   918130
<PAGE>      PAGE  19
074 Y000300        0
075 A000300        0
075 B000300 15981796
076  000300     0.00
083 A000300 N
083 B000300        0
084 A000300 N
084 B000300        0
085 A000300 Y
085 B000300 N
SIGNATURE   JOHN H. COSTELLO                             
TITLE       ASST. TREASURER     
 


<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>

YEAR


<FISCAL-YEAR-END>

NOV-30-1997


<PERIOD-END>

NOV-30-1997


<INVESTMENTS-AT-COST>

924,985


<INVESTMENTS-AT-VALUE>

1,003,007


<RECEIVABLES>

29,758


<ASSETS-OTHER>

1,049


<OTHER-ITEMS-ASSETS>

0


<TOTAL-ASSETS>

1,033,814


<PAYABLE-FOR-SECURITIES>

2,351


<SENIOR-LONG-TERM-DEBT>

0


<OTHER-ITEMS-LIABILITIES>

2,005


<TOTAL-LIABILITIES>

4,356


<SENIOR-EQUITY>

0


<PAID-IN-CAPITAL-COMMON>

834,539


<SHARES-COMMON-STOCK>

52,606


<SHARES-COMMON-PRIOR>

61,567


<ACCUMULATED-NII-CURRENT>

8,396


<OVERDISTRIBUTION-NII>

0


<ACCUMULATED-NET-GAINS>

108,501


<OVERDISTRIBUTION-GAINS>

0


<ACCUM-APPREC-OR-DEPREC>

78,022


<NET-ASSETS>

1,029,458


<DIVIDEND-INCOME>

20,380


<INTEREST-INCOME>

24,915


<OTHER-INCOME>

0


<EXPENSES-NET>

7,873


<NET-INVESTMENT-INCOME>

37,422


<REALIZED-GAINS-CURRENT>

112,126


<APPREC-INCREASE-CURRENT>

(3,229)


<NET-CHANGE-FROM-OPS>

146,319


<EQUALIZATION>

0


<DISTRIBUTIONS-OF-INCOME>

47,359


<DISTRIBUTIONS-OF-GAINS>

49,453


<DISTRIBUTIONS-OTHER>

0


<NUMBER-OF-SHARES-SOLD>

24,408


<NUMBER-OF-SHARES-REDEEMED>

38,427


<SHARES-REINVESTED>

5,058


<NET-CHANGE-IN-ASSETS>

(118,069)


<ACCUMULATED-NII-PRIOR>

15,316


<ACCUMULATED-GAINS-PRIOR>

68,882


<OVERDISTRIB-NII-PRIOR>

0


<OVERDIST-NET-GAINS-PRIOR>

0


<GROSS-ADVISORY-FEES>

4,993


<INTEREST-EXPENSE>

10


<GROSS-EXPENSE>

7,977


<AVERAGE-NET-ASSETS>

1,080,234


<PER-SHARE-NAV-BEGIN>

18.640


<PER-SHARE-NII>

 .640


<PER-SHARE-GAIN-APPREC>

1.900


<PER-SHARE-DIVIDEND>

 .800


<PER-SHARE-DISTRIBUTIONS>

 .810


<RETURNS-OF-CAPITAL>

0


<PER-SHARE-NAV-END>

19.570


<EXPENSE-RATIO>

74


<AVG-DEBT-OUTSTANDING>

0


<AVG-DEBT-PER-SHARE>

0



        



</TABLE>

<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>

YEAR


<FISCAL-YEAR-END>

NOV-30-1997


<PERIOD-END>

NOV-30-1997


<INVESTMENTS-AT-COST>

3,584,463


<INVESTMENTS-AT-VALUE>

4,018,616


<RECEIVABLES>

67,990


<ASSETS-OTHER>

0


<OTHER-ITEMS-ASSETS>

0


<TOTAL-ASSETS>

4,086,606


<PAYABLE-FOR-SECURITIES>

63,320


<SENIOR-LONG-TERM-DEBT>

0


<OTHER-ITEMS-LIABILITIES>

9,608


<TOTAL-LIABILITIES>

72,928


<SENIOR-EQUITY>

0


<PAID-IN-CAPITAL-COMMON>

2,928,541


<SHARES-COMMON-STOCK>

196,091


<SHARES-COMMON-PRIOR>

209,852


<ACCUMULATED-NII-CURRENT>

25,339


<OVERDISTRIBUTION-NII>

0


<ACCUMULATED-NET-GAINS>

625,657


<OVERDISTRIBUTION-GAINS>

0


<ACCUM-APPREC-OR-DEPREC>

434,141


<NET-ASSETS>

4,013,678


<DIVIDEND-INCOME>

42,238


<INTEREST-INCOME>

8,409


<OTHER-INCOME>

0


<EXPENSES-NET>

24,047


<NET-INVESTMENT-INCOME>

26,600


<REALIZED-GAINS-CURRENT>

646,367


<APPREC-INCREASE-CURRENT>

(88,783)


<NET-CHANGE-FROM-OPS>

584,184


<EQUALIZATION>

0


<DISTRIBUTIONS-OF-INCOME>

53,940


<DISTRIBUTIONS-OF-GAINS>

425,251


<DISTRIBUTIONS-OTHER>

0


<NUMBER-OF-SHARES-SOLD>

24,402


<NUMBER-OF-SHARES-REDEEMED>

65,810


<SHARES-REINVESTED>

27,647


<NET-CHANGE-IN-ASSETS>

(191,672)


<ACCUMULATED-NII-PRIOR>

52,707


<ACCUMULATED-GAINS-PRIOR>

404,533


<OVERDISTRIB-NII-PRIOR>

0


<OVERDIST-NET-GAINS-PRIOR>

0


<GROSS-ADVISORY-FEES>

16,654


<INTEREST-EXPENSE>

10


<GROSS-EXPENSE>

25,673


<AVERAGE-NET-ASSETS>

4,042,648


<PER-SHARE-NAV-BEGIN>

20.040


<PER-SHARE-NII>

 .130


<PER-SHARE-GAIN-APPREC>

2.610


<PER-SHARE-DIVIDEND>

 .260


<PER-SHARE-DISTRIBUTIONS>

2.050


<RETURNS-OF-CAPITAL>

0


<PER-SHARE-NAV-END>

20.470


<EXPENSE-RATIO>

64


<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>

YEAR


<FISCAL-YEAR-END>

NOV-30-1997


<PERIOD-END>

NOV-30-1997


<INVESTMENTS-AT-COST>

12,481,972


<INVESTMENTS-AT-VALUE>

16,699,377


<RECEIVABLES>

79,603


<ASSETS-OTHER>

0


<OTHER-ITEMS-ASSETS>

0


<TOTAL-ASSETS>

16,778,980


<PAYABLE-FOR-SECURITIES>

97,040


<SENIOR-LONG-TERM-DEBT>

0


<OTHER-ITEMS-LIABILITIES>

31,558


<TOTAL-LIABILITIES>

128,598


<SENIOR-EQUITY>

0


<PAID-IN-CAPITAL-COMMON>

10,502,182


<SHARES-COMMON-STOCK>

577,900


<SHARES-COMMON-PRIOR>

619,727


<ACCUMULATED-NII-CURRENT>

25,479


<OVERDISTRIBUTION-NII>

0


<ACCUMULATED-NET-GAINS>

1,905,337


<OVERDISTRIBUTION-GAINS>

0


<ACCUM-APPREC-OR-DEPREC>

4,217,384


<NET-ASSETS>

16,650,382


<DIVIDEND-INCOME>

284,055


<INTEREST-INCOME>

76,871


<OTHER-INCOME>

0


<EXPENSES-NET>

109,002


<NET-INVESTMENT-INCOME>

251,924


<REALIZED-GAINS-CURRENT>

1,914,279


<APPREC-INCREASE-CURRENT>

1,038,158


<NET-CHANGE-FROM-OPS>

3,204,361


<EQUALIZATION>

0


<DISTRIBUTIONS-OF-INCOME>

297,983


<DISTRIBUTIONS-OF-GAINS>

715,007


<DISTRIBUTIONS-OTHER>

0


<NUMBER-OF-SHARES-SOLD>

110,027


<NUMBER-OF-SHARES-REDEEMED>

191,956


<SHARES-REINVESTED>

40,102


<NET-CHANGE-IN-ASSETS>

1,054,356


<ACCUMULATED-NII-PRIOR>

70,992


<ACCUMULATED-GAINS-PRIOR>

819,191


<OVERDISTRIB-NII-PRIOR>

0


<OVERDIST-NET-GAINS-PRIOR>

0


<GROSS-ADVISORY-FEES>

79,595


<INTEREST-EXPENSE>

8


<GROSS-EXPENSE>

111,472


<AVERAGE-NET-ASSETS>

15,981,796


<PER-SHARE-NAV-BEGIN>

25.170


<PER-SHARE-NII>

 .420


<PER-SHARE-GAIN-APPREC>

4.870


<PER-SHARE-DIVIDEND>

 .490


<PER-SHARE-DISTRIBUTIONS>

1.160


<RETURNS-OF-CAPITAL>

0


<PER-SHARE-NAV-END>

28.810


<EXPENSE-RATIO>

70


<AVG-DEBT-OUTSTANDING>

0


<AVG-DEBT-PER-SHARE>

0



        



</TABLE>


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