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Technology > Marketing Technology

Fidelity Adds Envestnet, Redtail, Others to WealthCentral Platform

By John Sullivan

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Fidelity Institutional Wealth Services announced upgrades Tuesday to its WealthCentral platform for RIAs. The company said it has added six new software choices and “creating deeper integrations with existing applications for its independent advisor clients.”

Specifically, the company has added Envestnet Vantage Performance Reporting, Morningstar Office, Redtail, Salesforce.com and AppCrown to its platform. Fidelity also added functionality to WealthCentral in document and workflow management through XTRAC Solutions and Redtail. 

“At its core, WealthCentral is about choice, flexibility and efficiency,” Edward O’Brien, senior vice president and head of technology with Fidelity Institutional Wealth Services, said in a statement. “We designed the platform by listening to the many and distinct business needs of our clients. In addition to offering a range of integration options and the technology to connect them, Fidelity provides firms with personalized support and guidance to help them choose and leverage the tools that best suit their individual needs.”

In addition to new relationships, Fidelity also announced “deeper” integrations with its current applications to allow client information entered in one application to automatically flow through to the other applications being used. They include: 

  • Black Diamond Performance Reporting: Fidelity and Black Diamond now offer bi-directional data integration, enhanced navigation, cost basis synchronization processing and data directly from Fidelity for life insurance, tax exempt and Fidelity Charitable accounts.
  • Advent APX OnDemand: Fidelity and Advent now offer cost basis synchronization procedures. Enhanced graphical reporting and flexible security master from Advent are targeted for later this fall. 
  • Oracle CRM On Demand: Clients can access new pre-built reports and enhanced data synchronization with Fidelity custodial data, and later this fall, new mobile and email marketing capabilities will be available. 
  • NaviPlan Select: NaviPlan Select is available, featuring one-click securities position import into advisors’ Financial Plans.  

To help its advisor clients learn more about the evolution of technology critical to managing their practices, Fidelity also has issued a new white paper,  “The New Technology Frontier–Deep Integration.”

The paper discusses the value of integration, the evolution of different offerings and defines the types of integration currently available.

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