Fidelity Plans New Services For Advisors
Fidelity Investments Institutional Brokerage Group in Boston has announced new products and services for investment professionals. They include:
• Fidelity Private Offerings Program. Qualified registered investment advisors (RIAs)–those with at least $25 million custodied with Fidelity and at least one investor who meets the qualified purchaser status–will have access to exclusive alternative investments, including limited partnerships, private equity and venture-capital, private real estate and exchange funds.
• Administrative Trustee Services. This program will allow RIAs to retain investment management responsibilities for client accounts, while Fidelity Personal Trust Co. FSB, as trustee, performs the administrative, custody and reporting functions.
• A redesigned AdvisorChannel.com, a Web site for advisors that provides investment products and services, account and market data, wealth management resources and more.
• For broker-dealers, feeEngine, which offers a flexible, automated fee-based billing platform, and a new performance reporting service so firms can provide clients with detailed, custom reports about their fee-based investment accounts.
Fidelity also recently announced it reached an agreement with Advent Software Inc. in San Francisco to extend for five years Advent‚s support of a point-to-point interface for Fidelity clients currently using the service. Also, Fidelity will participate in Advent TrustedNetwork, which helps deliver consolidated account information from multiple financial institutions to advisors.
For more information, visit www.ibg.fidelity.com.
MSC Unveils Enhancements
Mutual Service Corp. (MSC), one of the nation‚s largest full-service independent broker-dealers, has taken two steps that will improve service to its representatives.