Fidelity Investments has launched a one-stop-shop wealth management platform that helps investment advisers streamline the advice and portfolio construction process.
Fidelity Managed Account Xchange (FMAX), which launched on November 16 in the US, allows advisers to develop a financial plan, invest, execute trades and generate reports. It also provides access to investment solutions, research and consulting, and a single point of contact to help advisers resolve issues.
The platform is integrated with industry technology providers, including eMoney and Envestnet, enabling functionalities like single sign-on and data pre-fill to eliminate manual processes and potential errors.
FMAX is being rolled out under Fidelity subsidiary Fidelity Institutional to wealth management firms, including registered investment advisers, family offices and broker-dealer firms.
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Bridging the platform gap
Fidelity Institutional head of investment and managed solutions Gary Gallagher said advisers have been waiting for this solution.
“Our research suggests that investors are increasingly looking to their advisers to help with the moments that matter most in their lives, not only selecting investments. We’re helping advisers streamline investing so that they can focus their time and energy on having those important conversations with their clients – particularly now,” said Gallagher.
The firm asked advisers about what they value most in portfolio construction. They found asset allocation guidelines, capital markets assumptions, portfolio diagnostic tools, and investment product research and recommendations are important.
Gallagher said Fidelity’s broad set of services, FMAX’s open architecture and its research provides a differentiated combination that can help advisers increase efficiency and potentially grow assets.