Fidelity Investments announced Thursday that it had developed an iPhone app to allow advisors who use Fidelity's WealthCentral to access client balances, holdings and transaction activity.

“Advisors increasingly tell us they are looking for new and better ways to improve efficiencies,” Edward O’Brien (left), senior vice president and head of technology for Fidelity Institutional Wealth Services, said in a press release.

WealthCentral is a Web-based, open technology platform that integrates with advisors' third-party applications. According to Fidelity, more than 800 RIA firms are using WealthCentral.

The app is the first step in Fidelity's plan to make the WealthCentral platform "broadly available" on smart phones; the company plans to release apps in the future that will offer access from iPads and other systems.

While the app doesn't currently offer trading capabilities, there are plans to offer future versions that do. Advisors can use the new app to monitor client profile information, positions and balances for brokerage and non-brokerage accounts. Advisors can also view transaction history details and set up account alerts, along with market news and quote details. The app is free from the iPhone app store or iTunes.

“We’ve leveraged a combination of Fidelity’s people, processes and technology to create a new app that merges innovative mobile technologies such as the iPhone with the power of WealthCentral,” O’Brien added. "As a result, advisors not only can maximize their productivity, but deliver an exceptional client experience while helping accelerate the growth of their practices."

Fidelity joins other companies who have jumped on the app wagon like CLS Investments, which recently launched an app for use with Apple and Android devices, and The Hartford, which is launching a pilot program to test iPads for use in selling annuities.