Fidelity® Institutional Announces Fidelity Managed Account XchangeSM (FMAX), a Comprehensive, Streamlined Wealth Management Platform

Fidelity Institutional today announced that it will launch Fidelity Managed Account XchangeSM (FMAX), a comprehensive wealth management platform that will consist of advisory tools, programs and services, and investments products from Fidelity and other leading asset managers.

As the demand for managed accounts grows rapidly, with $5.7 trillion in AUM in Q2 2017 and projections to hit $8.1 trillion by 2020,1 Fidelity is expanding its offering in this space to help meet the evolving needs of wealth management firms “ from registered investment advisors to broker-dealer firms to family offices “ and their clients.

Theres 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, said Anthony Rochte, head of Fidelity Institutionals 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.

Streamlined, End-to-End Solution Delivered through Leading FinTech Capabilities

FMAX is expected to begin rolling out in 2020 and will enable advisors to develop and deliver advisory solutions to their clients. The platform will offer distinct end-to-end advisory capabilities and leverage deep integrations between WealthscapeSM, eMoney Advisor, LLC and Envestnet, enabling advisors to plan, propose, invest and report in one streamlined workflow.

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FMAX will offer advisors the ability to guide their clients through every life stage, beginning with their first investing experience and continuing through when they have potentially accumulated more wealth.

Advisors will be able to offer clients a full continuum of service, ranging from digital to full-service, and personalize their offerings based on their capabilities and preferences. 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), Fidelitys award-winning, planning-led digital advice solution co-developed with eMoney.

Leading Investment Solutions

FMAX is open architecture and is expected to offer a combination of proprietary Fidelity managed account and model portfolio solutions, as well as solutions from leading third-party strategists and product providers. Existing Fidelity models and future offerings are expected to be accessible through FMAX. It will also offer Fidelitys advisory support and consulting capabilities.

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.

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Robust Service and Support

FMAX users will be supported by Fidelity’s advisory consulting and support capabilities, which include a dedicated deployment and services team for inquiries and issue resolution, and a streamlined contracting and implementation process. The creation of a new registered Investment Adviser, Fidelity Institutional Wealth Adviser LLC, will enable Fidelity to manage the full FMAX client experience and provide a unified service model.

Fidelity expects to begin rolling out FMAX to wealth management firms in 2020. For more information, advisors can contact their Fidelity relationship manager.

About Fidelity Investments Fidelitys mission is to inspire better futures and deliver better outcomes for the customers and businesses we serve. With assets under administration of $7.6 trillion, including managed assets of $2.7 trillion as of April 30, 2019, we focus on meeting the unique needs of a diverse set of customers: helping more than 30 million people invest their own life savings, 22,000 businesses manage employee benefit programs, as well as providing more than 13,500 financial advisory firms with investment and technology solutions to invest their own clients money. Privately held for more than 70 years, Fidelity employs more than 40,000 associates who are focused on the long-term success of our customers. For more information about Fidelity Investments, visit https://www.fidelity.com/about.

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For investment professional use only. Not authorized for distribution to the public as sales material in any form.

The content provided herein is general in nature and is for informational purposes only. This information is not individualized and is not intended to serve as the primary or sole basis for your decisions as there may be other factors you should consider. Fidelity Clearing & Custody Solutions does not provide financial or investment advice. You should conduct your own due diligence and analysis based on your specific needs.

eMoney Advisor LLC is a Fidelity Investments company and an affiliate of Fidelity Brokerage Services LLC and National Financial Services LLC.

Third party marks are the property of their respective owners; all other marks are the property of FMR LLC. Third parties referenced herein are independent companies and are not affiliated with Fidelity Investments. Listing them does not suggest a recommendation or endorsement by Fidelity Investments.

Fidelity Clearing & Custody Solutions provides clearing, custody or other brokerage services through National Financial Services LLC or Fidelity Brokerage Services LLC. Members NYSE, SIPC. 200 Seaport Boulevard, Boston, MA 02210.

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2019 FMR LLC. All rights reserved.

1 Industry data is from Cerulli Associates, as of June 30, 2017.

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