Fidelity to benefit breakaway brokers

Fidelity Investments will support the more than 50 breakaway brokers who have tapped the financial services provider to support their move to become Registered Investment Advisors. Under the program, RIAs working with Fidelity will have access to affordable medical, dental and vision insurance through BenefitProtect and access to fully furnished offices or meeting rooms through The Regus Group PLC. BenefitProtect of Phoenix offers consultations with licensed insurance counselors, the ability to elect portions of benefit plans or an entire package and flexible deductibles and billing, Fidelity said in a statement. The Regus Group of Chertsey, U.K. has 950 offices in 400 cities worldwide that are equipped with telecommunications and information technology services, access to meeting rooms and video conferencing. Additionally, Fidelity said that it has discounted rates with a new regulatory compliance provider, Advanced Regulatory Compliance. Advanced Regulatory Compliance provides advisers with access to professional consulting and services that will help them navigate through compliance and regulatory issues. Fidelity of Boston has more than $3.4 trillion in assets under custody, including managed assets of $1.6 trillion as of Oct. 31.