Fidelity Investments announced Thursday that its new program for RIAs with ultra-high-net-worth (UHNW) clients had, in only six months of existence, already reached nearly $2 billion in assets. The company also said that Trevor A. Norton has been brought on board as senior vice president and head of the program.
Since its launch in October of 2010, the UHNW program has provided the wealthiest clients of RIAs, those whose investable assets total $50 million or higher, access to services most often found in family offices. These services include such amenities as a dedicated relationship management team and investment analyst/trader and an open architecture reporting system.
Norton, who has 13 years of experience working with RIAs, will develop and implement the program’s strategic business plan as well as oversee the day-to-day program activities. His experience includes providing advisors with sophisticated wealth management products and building custody solutions to help meet the needs of RIAs.