Podcast Center
Video Center
Webcasts
Resource Center
Events
By 
June 06, 2019 at 10:31 AM
Fidelity Institutional plans to launch a comprehensive planning-centric wealth management platform next year to meet the growing demand for managed accounts and financial planning services among RIAs, broker-dealers and family offices.
The Fidelity Managed Account XChange, which the firm expects to begin to roll out in early to mid-2020, is designed to solve two growing trends: “a clear movement toward planning-oriented practices and the evolution into more fee-based and managed solutions,” says Gary Gallagher, head of Investment and Managed Solutions for Fidelity Institutional.
Fidelity notes that the market for managed accounts is projected to reach $8.1 trillion by 2020, up from $5.7 trillion in in the second quarter of 2017.
The Managed Account Xchange will function as a complementary overlay to Fidelity’s Wealthscape Integration Xchange, its open-architecture digital store, and eMoney Advisor, the financial planning software technology it acquired in early 2015. The Wealthscape and eMoney platforms will continue to exist as separate entities, but users of either will be able to easily access the new platform.
It will “offer distinct end-to-end advisory capabilities and develop deep integrations between Wealthscape, eMoney Advisor and Envestnet, enabling advisors to plan, propose, invest and report in one streamlined workflow,” according to a statement from Fidelity. Its curated menu of managed accounts solutions will include both Fidelity funds and third-party asset management, said Gallagher.
