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Fidelity Institutional Rolls Out Wealth Mgmt Platform for RIAs and B-Ds

By Alex Padalka November 18, 2020

Fidelity Institutional says it has begun rolling out a new open-architecture wealth management platform to RIAs, broker-dealers and family offices.

FMAX, as the platform is called, was first announced last year and now offers investment and technology products from the third-party providers such as eMoneyand Envestnet as well as service and support from Fidelity, according to Gary Gallagher, head of Investment and Managed Solutions for Fidelity Institutional.

FMAX also offers consulting through Fidelity’s Portfolio Solutions Consulting team, which covers practice-level investment, strategist and separately managed account program consulting, unified managed account model construction consulting and support for customized investor proposals, Fidelity says. The new platform also serves up data from Fidelity’s Asset Allocation Multi-Horizon research, the company adds.

Fidelity says FMAX is designed to simplify various advisor processes, with features such as a single point of contact for inquiries and issue resolution, a streamlined contracting process for access to all products from third-party vendors, integration with tech providers such as eMoney and Envestnet, and single sign-on and data pre-fill.

“Our research suggests that investors are increasingly looking to their advisors to help with the moments that matter most in their lives, not only selecting investments,” Gallagher says in a statement. “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.”

FMAX is offered by Fidelity Institutional Wealth Adviser, the sponsor of the Fidelity Managed Account Xchange program and an affiliate of Fidelity Brokerage Services and National Financial Services, the company says.

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Tags:  Finding and winning new clients , Technology , Portfolio management , Special services , Envestnet , Fidelity

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