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Fidelity® Launches Advice Solution For Workplace Plan Participants

- 4 out of 5 Workers Do Not Have a Financial Plan Today
- 80 Percent of Workers Who Have a Plan Still Not Confident about Financial Situation
- 77 Percent of Workers Want to Verify Financial Decisions with an Expert

BOSTON — Fidelity Investments®, the largest provider of workplace savings plans such as 401(k)s and 403(b)s, today announced the availability of Fidelity Personalized Planning & Advice, an enhanced workplace advice and managed account offering designed to help individuals create, implement and track a holistic financial plan. Available through a workplace savings plan, the solution combines a personalized digital experience, discretionary investment management, ongoing support and access to a team of professional planning consultants to help ensure participants stay on track with their financial goals, even as their situations evolve.

More than 5,000 employers currently offer Fidelity’s workplace managed account solution to their employees and the number of individuals using Fidelity’s workplace managed account solution has grown 400 percent over the last five years. However, recent Fidelity research shows that even as workers’ financial lives become more complex, 4 out of 5 do not have a financial plan. But even among workers who do have a plan, 80 percent still lack confidence in their financial situation.

"While investment solutions such as workplace managed accounts have been successfully managing individuals’ retirement savings, employees have expressed a need for additional help to create a holistic plan that addresses their evolving personal needs," said Sangeeta Moorjani, Head of Product, Marketing and Advice for Fidelity’s Workplace Investing business. "Fidelity Personalized Planning & Advice combines our leading managed account offering with holistic planning, ongoing support and help from our planning consultants that will give employees more confidence in their financial plan and overall financial situation."

Fidelity’s Personalized Planning & Advice offering will expand beyond investment advice provided to individuals in their retirement accounts to include help in creating a plan that includes other personal financial goals and proactive, ongoing support. Following are some of the key benefits of Fidelity Personalized Planning & Advice:

  • Help creating and implementing a financial plan tailored to an employee’s specific goals and situation. While many employees understand the importance of having a financial plan, many lack the knowledge and confidence to create a plan of their own. With Fidelity Personalized Planning & Advice, individuals will get help crafting a holistic, personalized plan that extends beyond saving for retirement and integrates other investment goals and objectives, such as building an emergency fund or saving for a down payment on a house.
  • Professional, personalized investment management. Employees will continue to receive investment advice and management of their savings from a team of professionals and have access to a visual summary of their investments. This will make it easier to see and understand any changes or updates to their overall financial strategy.
  • Ongoing, proactive engagement with progress toward their personal financial goals. Employees will benefit from ongoing, proactive engagement, including expanded annual checkups, reminders, and information that addresses their specific investment needs, to help them stay on track toward their financial goals. In addition, Fidelity’s ongoing engagement will enable employees to modify their plan as goals change due to factors such as a job change, a new baby or other life events that might shift financial priorities.

"Over three quarters of our clients have indicated1 they would like a financial expert to weigh in on their financial decisions," added Moorjani. "Regardless of their financial situation or level of affluence, Fidelity recognizes that investors across the board are looking for more help, and Fidelity Personalized Planning & Advice is one of many offerings designed to provide this help to a broad range of investors."

Employers who already offer Fidelity’s managed account offering will automatically have access to Fidelity Personalized Planning & Advice. The upgrade to Fidelity Personalized Planning & Advice will be seamless and will not require any action on behalf of employers. Employees who are enrolled in Fidelity’s current managed account offering will also be automatically upgraded at no additional cost. Please click here for additional information, including additional product detail and sample employee scenarios.

About Fidelity Investments

Fidelity’s mission is to inspire better futures and deliver better outcomes for the customers and businesses we serve. With assets under administration of $7.0 trillion, including managed assets of $2.5 trillion as of May 31, 2018, we focus on meeting the unique needs of a diverse set of customers: helping more than 27 million people invest their own life savings, 23,000 businesses manage employee benefit programs, as well as providing more than 12,500 financial advisory firms with investment and technology solutions to invest their own clients’ money. Privately held for 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

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