Just days after Schwab announced its Model Portfolios were added to the Riskalyze platform for the first time, Fidelity Investments said its model portfolios were added to the Orion Portfolio Solutions, Orion Communities and SMArtX Advisory Solutions platforms and integrated into Fidelity’s Modeling and Rebalancing tool on its Wealthscape fintech platform for advisors.
The Fidelity Model Portfolios are now available on 16 different platforms — including Envestnet and Riskalyze Partner Stores, where they’ve been included since 2018, the year they launched.
More than 70% of financial advisors currently use asset allocation models, allowing them to spend more time working with clients on financial planning and other personal interactions, according to Fidelity.
In addition, one-quarter of advisors in a recent Fidelity study said portfolio modeling and rebalancing tools had become more valuable during the COVID-19 crisis as they look for ways to increase productivity.
Today, more than 6,000 financial advisors subscribe to Fidelity Model Portfolio updates, up from less than 2,000 last year. Matt Goulet, senior vice president of portfolio solutions at Fidelity Institutional, notes that those update subscriptions do not constitute actual usage — though many of these advisors ultimately may use the portfolios.