Available to Eligible RIAs and Broker-Dealers through Envestnet
Part of Fidelity's Robust Lineup of Portfolio Solutions for Wealth Management Firms, New Model Portfolio Capabilities Allow Exposure to Private Markets
BOSTON, June 18, 2025 – Fidelity Investments® today announced the availability of custom model portfolios with alternative investments, which allow eligible wealth management firms access to models that provide exposure to the private markets. Fidelity Custom Model Portfolios use an open-architecture approach that includes investment strategies from Fidelity and other third-party asset managers and now may include alternative investment vehicles such as interval or tender offer funds. This new capability will be offered to eligible registered investment advisors (RIAs) and broker-dealers (BDs) as part of Fidelity’s strategic relationship with Envestnet and delivered through its wealth management platform.
In a recent Fidelity survey of financial advisors, nearly half (46%) said they were very interested in a model portfolio that offers a diversified portfolio of both traditional and alternative investments.[i]
“Wealth managers are looking for opportunities to expand beyond traditional asset classes to diversify portfolios, but may see implementation of alternative investments as a complex process,” said Amanda Robinson, head of Wealth Advisory Managed Solutions Distribution at Fidelity Investments. “Fidelity’s open-architecture, custom model portfolios can offer an efficient and tailored solution to help meet advisors’ and their clients’ needs.”
Fidelity Institutional Wealth Adviser LLC (FIWA), which oversees portfolio construction for the custom models, includes an experienced, specialized alternative investment manager research team. The team applies quantitative and qualitative analysis and a rigorous due diligence process to identify managers in which they have high conviction. FIWA’s systematic portfolio construction process also leverages proprietary research and insights from across Fidelity to create portfolios to help investors reach their long-term objectives.
Fidelity offers wealth management firms a range of portfolio construction capabilities designed to help them navigate an evolving product landscape and efficiently build effective portfolios. For those looking to scale their practice through outsourcing, in addition to custom model portfolios, Fidelity manages a suite of turnkey Fidelity Model Portfolios.
“With the new alternatives capabilities in our custom model portfolios, we also remain focused on growing our turnkey lineup of models in the coming months,” said Robinson.
Financial advisors who prefer a more hands-on approach have access to portfolio construction solutions such as Fidelity’s Portfolio Quick Check tool or consulting a portfolio construction specialist. Fidelity also offers a robust library of thought leadership and insights for advisors to learn more about alternative investments and how they can potentially enhance clients’ portfolios: An advisor's guide to alternative investments. That includes recently updated research from FIWA, “Alternative investments and their roles in multi-asset class portfolios.”
This custom model offering expands upon Fidelity and Envestnet’s longstanding strategic relationship to deliver personalized investment solutions for advisors to help grow and scale their business while meeting investor needs. To learn more about Fidelity’s custom model portfolios, visit Fidelity Custom Model Portfolios.
Alternative Investments at Fidelity
Fidelity is a leading provider of custodial services, offering access to more than 6,000 proprietary and third-party alternative products and overseeing more than $95 billion in assets under administration[ii] on its alternative investments platform for institutional and intermediary clients.
In addition, Fidelity, through its asset management divisions, manages a range of alternative investment (alts) vehicles, including private equity, private credit, real assets, liquid alternatives, and digital assets. Fidelity Investments' alts lineup includes more than 60 funds, comprised of funds for eligible investors and funds available to the firm's investment team for portfolio construction, totaling more than $41 billion in assets under management[iii].
About Fidelity Investments
Fidelity’s mission is to strengthen the financial well-being of our customers and deliver better outcomes for the clients and businesses we serve. Fidelity’s strength comes from the scale of our diversified, market-leading financial services businesses that serve individuals, families, employers, wealth management firms, and institutions. With assets under administration of $15.0 trillion, including discretionary assets of $5.9 trillion as of March 31, 2025, we focus on meeting the unique needs of a broad and growing customer base. Privately held for 78 years, Fidelity employs more than 77,000 associates across the United States, Ireland, and India. For more information about Fidelity Investments, visit https://www.fidelity.com/about-fidelity/our-company.
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Fidelity Institutional Wealth Adviser LLC (FIWA)® is a registered investment adviser and an indirect, wholly-owned subsidiary of FMR LLC. Fidelity Custom Model Portfolio Solutions are made available to Intermediaries on a non-discretionary basis by Fidelity Institutional Wealth Adviser LLC ("FIWA"), a registered investment adviser.
Views expressed are as of the date indicated, based on the information available at that time, and may change based on market or other conditions. Unless otherwise noted, the opinions provided are those of the speaker or author and not necessarily those of Fidelity Investments or its affiliates. Fidelity does not assume any duty to update any of the information.
Fidelity Investments® is an independent company, unaffiliated with Envestnet Inc. ("Envestnet"). Fidelity Investments is a service provider to Envestnet. There is no form of legal partnership, agency affiliation, or similar relationship between Envestnet and Fidelity Investments, nor is such a relationship created or implied by the information herein. Fidelity Investments is a registered trademark of FMR LLC. Fidelity Investments® 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.
Fidelity does not provide legal or tax advice. The information herein is general and educational in nature and should not be considered legal or tax advice. Tax laws and regulations are complex and subject to change, which can materially impact investment results. Fidelity makes no warranties with regard to such information or results obtained by its use, and disclaims any liability arising out of your use of, or any tax position taken in reliance on, such information. Consult an attorney or tax professional regarding your specific situation.
Alternative investment strategies may not be suitable for all investors and are not intended to be a complete investment program. Risks associated with alternative investments include: alternatives may be relatively illiquid; it may be difficult to determine the current market value of the asset; and there may be limited historical risk and return data. Costs of purchase and sale may be relatively high. A high degree of investment analysis may be required before investing. Keep in mind investing involves risk. The value of your investment will fluctuate over time, and you may gain or lose money.
Fidelity Brokerage Services LLC, Member NYSE, SIPC
900 Salem Street, Smithfield, RI 02917
Fidelity Distributors Company LLC
900 Salem Street, Smithfield, RI 02917
National Financial Services LLC, Member NYSE, SIPC
245 Summer Street, Boston, MA 0211
1210548.1.0
©2025 FMR LLC. All rights reserved.
i2025 Fidelity Financial Advisor Community – Portfolio Construction Survey was an online blind survey (Fidelity not identified) and was fielded during the period December 13 – 23, 2024. Participants included over 500 advisors who manage or advise upon client assets either individually or as a team and work primarily with individual investors. Advisor firm types included a mix of banks, independent broker-dealers, insurance companies, regional broker-dealers, RIAs, and national brokerage firms (commonly referred to as wire-houses). The results are weighted to reflect industry composition. The study was conducted by an independent firm not affiliated with Fidelity Investments.
iiAs of April 30, 2025
iiiAs of March 31, 2025