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Fidelity Rolls Out Comprehensive Wealth Platform for Advisors

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Fidelity Institutional has launched a comprehensive wealth management platform that provides financial advisors the ability to deliver an array of services to clients all in one place, helping them meet the growing demand for financial planning services and managed accounts.

The Fidelity Managed Account Xchange (FMAX) provides deep integrations with eMoney’s planning and Envestnet’s managed account technologies while simplifying contracting and eliminating manual processes; investing solutions from asset managers along with investment consulting from Fidelity; and a single contact point for inquiries and issue resolution.

“This is what advisors have been waiting for: one platform where they can develop a financial plan, create a proposal, invest, trade, generate reports — and access investment solutions, research and consulting,” said Gary Gallagher, head of Investment and Managed Solutions for Fidelity Institutional, in a statement. “We’re helping advisors streamline investing so that they can focus their time and energy on having those important conversations with their clients — particularly now.”

FMAX, which was announced last year, is now being rolled out to RIAs, family offices and broker-dealers.

(Related: Fidelity to Launch a Planning-Centric Wealth Management Platform)

It features an open-architecture investment lineup from leading investment management firms that Fidelity Institutional Wealth Advisers LLC will regularly monitor for their cost, performance, style alignment and people and process consistency — its “4 Pillar Rating Criteria.”

FMAX also includes consulting from Fidelity’s Portfolio Solutions Consulting team, covering not just investments generally but strategist, separately managed account and unified managed account portfolios as well as customized investor proposal support. The managed accounts market is expected to reach $1 trillion by 2023, according to Cerulli Associates.

Another feature in FMAX: a service and support model with a single point of contact for inquiries and issue resolution; simplified contracting process for access to third parties on the platform; integrations with tech providers including eMoney and investment and single sign-on and data pre-fill to help eliminate manual processes and potential errors.

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