Fidelity Releases Technology Evaluator Tool

“If, for example, an advisor is looking at outsourcing the portfolio management portion of his practice, we can do a side-by-side comparison of the available choices,” he says. “But we can also help him address how the re-allocation of resources and costs will affect his business, and ultimately, help him expand his margins.”

Specifically, Fidelity consultants input specific information about an advisor’s current practice, including software and hardware expenses, staff resource allocations, and the number of investor accounts and asset levels. The consulting team works with the advisor to understand where the practice can become more efficient, and the potential impact of deploying technology and operational changes. Leveraging the Evaluator tool with information provided to the consultants by the advisor, the consultant creates a detailed report quantifying the economic impact of incorporating these efficiencies in the advisor’s practice. The Fidelity consultant then works with the advisor to help the advisor prioritize, plan and execute the initiatives outlined in the report.

While working with advisors, the consultants take into consideration a number of technology alternatives and employ a comprehensive methodology to identify opportunities for streamlining workflow and applying technology solutions to help advisors achieve their goals.