Fidelity Investments has announced two new technology offerings developed specifically for small and medium-sized registered investment advisors (RIAs) looking to build and grow their business.
An all-in-one technology and consulting team with FMAX Essentials, a new managed account platform, each aimed at reducing the two most common technology barriers for small firms: resources and costs .
“Technology has incredible power as a driver of growth and the firms that make the most of it have given the time to research, test, and implement it at scale,” said Noni Robinson, head of Emerging RIAs at Fidelity Institutional Wealth Management Services, a division of Fidelity. Investments that provide platform solutions and services to clean and maintain wealth management firms.
Small firms and consultants starting their own businesses, however, often have limited resources, which can put them at a disadvantage, he noted.
“Our offering takes the guesswork out of choosing a technology stack with solutions that support the front-line, middle-line and back-line workers in these factories,” Robinson said.
Fidelity’s latest Advisor Technology Stack study found that firms with less than $250M in revenue are 1.8 times less likely to adopt technology innovations than firms with $1 T+ AUM.
This lack of adoption of technology can affect the growth rate of small and medium-sized firms as the study also found that wealth management firms that use the best technology are growing faster in more than peers.
Fidelity has partnered with eMoney Advisor, a financial planning solutions specialist, and Advyzon, an advisor technology specialist, to secure access to special pricing and support types for its one-stop technology offering. This solution aims to reduce the time leaders spend on assessing the technology stack.
It includes a variety of deeply integrated tools to help facilitate the critical work of advisors such as: WealthscapeSM, Fidelity’s trading platform; eMoney’s financial planning capabilities; and Advyzon’s performance and portfolio management program, including customer relationship management (CRM), performance reporting, and investment management tools provided by Advyzon Investment Management (AIM), a subsidiary of Advyzon.
For firms looking to expand their advisory capabilities, Fidelity has also introduced an advisory suite that includes Wealthscape, eMoney, and a new product, Fidelity Managed Account Xchange Essentials (FMAX Essentials), which provides wealth advisory capabilities. last in a formal manner. investment listings of Fidelity and third-party products.
The FMAX Essentials investment portfolio includes nearly a quarter of the options available on the FMAX platform, FIWA’s larger advisory offering, including a variety of mutual funds and exchange-traded funds (ETFs), as well as portfolios of for example, a separately managed account (SMA). ), and unified account wrappers (UMA).
FMAX Essentials is available now at savings firms and Fidelity and will introduce additional features and investment options over time.
Wealth management firms of all sizes will retain access to Fidelity’s à la carte suite of platforms, tools and communications for a fully customized technology solution that can grow with them.
Integration Xchange, Fidelity’s open architecture marketplace for wealth management firms, provides connections to more than 200 fintech companies and API analytics to enable firms to discover, evaluate and implement features new technologies.
#Loyalty #Introduces #Technology #Products