Anthony Rochte

The US-based Fidelity Institutional has announced the launch of its wealth management platform, Fidelity Managed Account Xchange (FMAX). The supplier states that the new platform comprises of advisory tools, programs, services and investment products from Fidelity and other asset managers. FMAX is expected to enable advisors to create and deliver client solutions. It is to be rolled out in 2020.

“There’s been a clear shift in demand toward both planning-led experiences and fee-based business models, and managed accounts can help advisors deliver on both,” commented Anthony Rochte, head of Fidelity Institutional’s Investments and Technology Group. “Fidelity is building on our significant experience and proven success in the managed accounts space with this new offering, which should make it easier for advisors to efficiently access and manage a range of investment solutions from both Fidelity and third-party providers.”

According to Fidelity, FMAX aims to deliver advisory capabilities, plan a simplified workflow and utilize deep integrations from Wealthscape, Envestnet etc. Fidelity’s existing capabilities are to be made available through FMAX. Over time, the platform is expected to also offer the flexibility to support both planning-oriented and non-planning managed account users, with digital services offered through Fidelity Automated Managed Platform (AMP), Fidelity’s digital advice solution co-developed with eMoney.

“Investors are increasingly looking to their advisors for holistic planning, and Fidelity will help them provide that through the combined power of FMAX with industry-leading planning, managed account technology and brokerage integrations,” said Gary Gallagher, head of Investment and Managed Solutions for Fidelity Institutional. “The platform will make it easier for advisors to work with a range of managed account solutions, streamlining the money management function and freeing advisors up to spend more time and energy on financial planning and other value-adds for their clients.”

Established in 1946, Fidelity Investment offers investment management, retirement planning, portfolio guidance, brokerage, and many other financial products.

by Megha Bhattacharya
Market Analyst at IBS Intelligence