Fidelity rolls out investment program aimed at RIAs

Fidelity Investments, in a move to attract and retain registered investment advisers and independent-broker-dealer clients, has introduced a program it says offers advisers access to market analysis and industry insights.
NOV 13, 2009
Fidelity Investments, in a move to attract and retain registered investment advisers and independent-broker-dealer clients, has introduced a program it says offers advisers access to market analysis and industry insights. Insight & Outlook is being offered through Fidelity's registered investment adviser custody business, Fidelity Institutional Wealth Services, and its clearing business, National Financial Services LLC. “With the market crisis last fall there are a lot of cases where advisers' discipline and experience were called into question,” said Mike Durbin, president of Fidelity Institutional Wealth Services, in an interview. “Our clients started asking us last year, ‘Tell us what Fidelity thinks.’” The program will include a Monday Wake-Up Call, in which Fidelity Capital Markets strategists will review the equity and fixed-income markets directly from that unit’s trading floor. “It’s a 20-minute hard-hitting distillation of the crush of data that is affecting our clients,” Mr. Durbin said. In addition to the weekly calls, advisers and independent broker-dealers will also have access to Fidelity market analysis, business insights and industry research. Fidelity's announcement is the latest in a string of plays by custodians to get business from RIAs and independent broker-dealers, noted Mark Elzweig, president of an eponymous executive search firm. Just last week, The Charles Schwab Corp. announced that it will offer its own exchange-traded funds commission-free in a play for this market. “Everyone is convinced that the RIA and independent-broker-dealer space is going to grow,” Mr. Elzweig said. “Now Fidelity is adding more bells and whistles to its platform to attract and retain these advisers.”

Latest News

RIA dealmaking accelerates as three firms hit AUM milestones
RIA dealmaking accelerates as three firms hit AUM milestones

Wealth Consulting Group, Coastline and Maridea report fresh capital, acquisitions and asset growth as advisor M&A keeps climbing

VastAdvisor closes $1 million SAFE round from advisor-side backers
VastAdvisor closes $1 million SAFE round from advisor-side backers

Carson Group's Dani Fava, Jason Pereira of Woodgate Financial, and Sally George of Convergency Partners led the raise as the growth-tech startup builds out its AI platform and leadership bench.

Wells Fargo adds three advisor practices as recruiting rebound continues
Wells Fargo adds three advisor practices as recruiting rebound continues

New teams from William Blair, Ameriprise and UBS bring more than $560 million in combined client assets to the firm's employee and independent channels.

UBS will pay advisors 'handsomely' for banking starting next year
UBS will pay advisors 'handsomely' for banking starting next year

Regulators this year approved UBS Bank USA’s conversion to a nationally chartered bank.

SEC accuses Tricolor executives of hiding $800 million collateral hole
SEC accuses Tricolor executives of hiding $800 million collateral hole

How a subprime lender’s car-loan bonds allegedly unraveled before bankruptcy.

SPONSORED Direct indexing webinar targets tax-loss harvesting amid market swings

Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains

SPONSORED Who builds the income when the pension disappears?

Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income