- Wealth Advisory Institute is a comprehensive educational & training program – backed by a curriculum with instructor-led and on-demand workshops, customized content, and training
- Developed by Fidelity and featuring insights and resources from both Fidelity and industry-leading asset managers
BOSTON--(BUSINESS WIRE)-- With Fidelity research finding that investors are increasingly looking to their advisors to help with the moments that matter most in their lives,i Fidelity Institutional today announced the launch of the Wealth Advisory Institute, a comprehensive wealth management educational and training program designed to help firms and their advisors grow. The Wealth Advisory Institute combines a range of tools and resources:
- A curriculum that advisors can customize based on where they are in their journey to becoming a holistic wealth manager, including a guided set of modules: Move to a Fee-Based Model, Integrated Financial Planning, Develop Your Investment Footprint, Optimize Your Business and Become a Holistic Wealth Manager.
- A landing zone with resources aligned to each module which includes research papers, videos, and podcasts from both Fidelity as well as more than a dozen industry-leading asset managers, including: American Century Investments, BlackRock, Capital Group, Goldman Sachs Asset Management, Invesco, Janus Henderson, MFS, PIMCO, and T. Rowe Price.
- Both live and on-demand workshops facilitated by Fidelity’s practice management and consulting team.
- Ongoing personalized firm-level support for rollout planning, platform training and adoption measurement.
“No other industry program provides this type of educational framework which inspires advisors and helps them drive client engagement and, in turn, grow their books of business,” said Gary Gallagher, head of Investment and Managed Solutions for Fidelity Institutional. “The Wealth Advisory Institute has a dynamic, interactive experience that offers actionable goals and next steps for advisors and the support to help firms and advisors every step along their journey to become holistic wealth managers.”
Fidelity research also found that advisors who spend at least 10 percent of their time on professional development more often reported an increase in the number of clients they serve than those advisors who spent less time.ii Cerulli research notes that the most effective ways to learn are: hearing best practices from successful advisors, 1:1 access to consultants, and ongoing coaching.iii
The Wealth Advisory Institute is rolling out now toFidelity Institutional clients who have signed up for Fidelity Managed Account Xchange℠ (FMAX) or Managed Account Solutions (MAS) services. Fidelity Institutional serves more than 13,500 wealth management firms and institutions which oversee 70 percent of the U.S.’s wealth.iv
For more information, advisors should visit Fidelity’s website or contact their Fidelity relationship manager.
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 $10.7 trillion, including discretionary assets of $4.0 trillion as of April 30, 2021, we focus on meeting the unique needs of a diverse set of customers: helping more than 35 million people invest their own life savings, 22,000 businesses manage employee benefit programs, as well as providing more than 13,500 wealth management firms and institutions with investment and technology solutions to drive growth. Privately held for 75 years, Fidelity employs more than 47,000 associates who are focused on the long-term success of our customers. For more information about Fidelity Investments, visit https://www.fidelity.com/about-fidelity/our-company.
The content provided herein is general in nature and is for informational purposes only. This information is not individualized and is not intended to serve as the primary or sole basis for your decisions as there may be other factors you should consider. Fidelity Institutional℠ does not provide financial or investment advice. You should conduct your own due diligence and analysis based on your specific needs.
Third party marks are the property of their respective owners; all other marks are the property of FMR LLC. Third parties referenced herein are independent companies and are not affiliated with Fidelity Investments. Listing them does not suggest a recommendation or endorsement by Fidelity Investments.
Managed Account Solutions (“MAS”) is a service offered by National Financial Services LLC (“NFS”). Investment advisory and platform management services available through MAS are provided by Envestnet Asset Management Inc. (“Envestnet”) which is a third party registered investment advisor and is not a corporate affiliate of Fidelity Investments or NFS (the “Fidelity Companies”). The Fidelity Companies assume no responsibility and make no warranties, express or implied, regarding services provided by Envestnet. NFS does not provide investment advisory services of any kind in connection with MAS. Custody, clearing and other services are provided by NFS.
Fidelity Institutional Wealth Adviser LLC (FIWA) is a registered investment adviser and an indirect, wholly-owned subsidiary of FMR LLC. FIWA is the sponsor of the Fidelity Managed Account Xchange℠ program. FMAX is a comprehensive wealth management platform consisting of advisory tools, programs and services, and investment products from Fidelity and other leading asset managers. Some services are provided by affiliated and unaffiliated 3rd parties. FMAX offers robust Fidelity service & support and a simplified client experience, provides investment advisory and platform services for a fee, and is offered by FIWA, an affiliate of Fidelity Brokerage Services LLC and National Financial Services LLC. FMAX provides investment advisory and platform services for a fee. The FMAX Platform is not a brokerage product.
Fidelity Institutional℠ (FI) provides investment products through Fidelity Distributors Company LLC; clearing, custody, or other brokerage services through National Financial Services LLC or Fidelity Brokerage Services LLC, Members NYSE, SIPC; and institutional advisory services through Fidelity Institutional Wealth Adviser LLC.
© 2021 FMR LLC. All rights reserved.
i The 2019 Fidelity Investor Insights Study was conducted during the period August 6th through August 26th, 2019. It surveyed a total of 2,026 investors, including 1,102 Millionaires. The study was conducted via a 25-minute online survey, with the sample provided by Brookmark, a third-party firm not affiliated with Fidelity. Respondents were screened for a minimum level of investable assets (excluding retirement assets and primary residence), age, and income levels.
ii 2019 Fidelity Financial Advisor Community Background Survey.
iii “U.S. Advisor Metrics 2020: Dimensions of Diversity,” The Cerulli Report.
iv 2019 Fidelity Financial Advisor Community Background Survey. The Fidelity Financial Advisor Community is a panel of advisors who participate in topical studies related to their practices throughout the year. Advisors who are invited to join the panel manage or advise upon client assets either individually or as a team, and work primarily with individual investors. All panel surveys are conducted online, and are blind (Fidelity is not identified as the sponsor). The background survey was fielded from May 13th through October 29th, 2019. 907 advisors completed the survey. Advisor firm types include a mix of banks, independent broker-dealers, insurance companies, regional broker-dealers, RIAs, and national brokerage firms (commonly referred to as wirehouses), with findings weighted to reflect industry composition. Research with the panel is conducted by an independent firm not affiliated with Fidelity Investments. 83% of advisors who spent at least 10% of their time on professional development reported an increase in clients vs. those who spent less than 10% of their time on professional development (77% reported an increase).
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Source: Fidelity Investments