Fidelity Investments has launched a digital platform that allows do-it-yourself investors to create their own custom index, either by designing an index from scratch or selecting from 13 thematic stock models built by Fidelity analysts and then adding or removing stocks or updating weights.
Branded as Fidelity Solo FidFolios and leveraging the use of fractional shares, the solution will be rolled out over the coming weeks.
It follows the April launch of Fidelity Managed FidFolios, a digital, professionally managed direct-indexing option that offers advanced tax management techniques and is available to retail investors.
Users of the new service can start with as little as $1 per stock and select up to 50 stocks in each portfolio. After a 90-day free trial, the flat monthly fee will be $4.99. The professionally managed portfolio option has a $5,000 minimum investment and charges a management fee of 40 basis points.
Rajesh Markan earlier this year pleaded guilty to one count of criminal fraud related to his sale of fake investments to 10 clients totaling $2.9 million.
From building trust to steering through emotions and responding to client challenges, new advisors need human skills to shape the future of the advice industry.
"The outcome is correct, but it's disappointing that FINRA had ample opportunity to investigate the merits of clients' allegations in these claims, including the testimony in the three investor arbitrations with hearings," Jeff Erez, a plaintiff's attorney representing a large portion of the Stifel clients, said.
Chair also praised the passage of stablecoin legislation this week.
Maridea Wealth Management's deal in Chicago, Illinois is its first after securing a strategic investment in April.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
