Fidelity announces new comprehensive, advisory tech offerings for smaller RIA firms

investmentnews.com:

Smaller and mid-sized registered investment advisor firms are the focus for two new technology offerings from Fidelity Investments.

The firm’s recent research found that wealth management firms with a strong technological orientation see significantly better growth, improved client experiences, and enhanced advisor satisfaction compared to their less digital-focused counterparts, but that firms with less than $250M are 1.8x less likely to embrace technology best practices than firms with $1T+ AUM.

Its new offerings are designed to enable RIAs to embrace technology to establish and grow their business with both an all-in-one tech stack and an advisory bundle.

The all-in-one offering was developed in collaboration with financial planning experts at eMoney Advisor, LLC, and advisor technology experts at Advyzon and aims to streamline advisors’ critical workflow and includes:

Fidelity has worked with its two collaborators to offer special pricing and support models and says that the comprehensive package will cut down evaluation time for advisors contemplating a technology stack.

ADVISORY BUNDLE

The new advisory bundle brings together Wealthscape, eMoney, and a new product, Fidelity Managed Account Xchange Essentials (FMAX Essentials).

FMAX Essentials draws on the larger, recently launched FMAX offering from Fidelity Investments Wealth Adviser, offering around one quarter of its options including a variety of mutual funds and ETFs, as well as model portfolios, separately managed account, and unified managed account wrappers. It’s available to those who use Fidelity’s custodian services.

Along with third-party products, the advisory bundle is intended for those firms that are looking to expand their managed account