Fidelity Investments today announced that more than 600 advisory firms now use WealthCentral, its technology platform for RIAs, and that number is expected to more than double within the next year.

As of June 30, Fidelity custodied more than $410 billion in assets on behalf of approximately 3,300 RIA clients.

Fidelity also announced it has enhanced WealthCentral in several ways. Now advisors can create block orders directly from WealthCentral's portfolio modeling and rebalancing tool, receive automated alerts when a mutual fund trade is entered that may be subject to a short-term redemption fee, access new reports such as detailed holdings of fixed-income positions, and realize easier account access through  redesigned "lists and search" functions.

Launched in December 2008, WealthCentral was the industry's first Web-based, open technology platform that integrates advisors' customer relationship management, portfolio management, financial planning, and portfolio rebalancing and trading systems into one workstation, Fidelity says.

"As the competition attempts to replicate what we have already built on behalf of our clients, we will continue to raise the bar through ongoing investment and innovation," says Michael R. Durbin, president of Fidelity Institutional Wealth Services.

Advisor satisfaction with WealthCentral has been high. "As a Web-based platform, WealthCentral has considerably enhanced the way we do business," says Frederick E. "Rick" Adkins, president and CEO of The Arkansas Financial Group in Little Rock, Ark.  "With single sign-on connecting you to all of WealthCentral's applications and integration allowing these systems to share information, WealthCentral has proven to be a time saver, allowing us to spend less time on maintaining our technology infrastructure and more time taking care of clients."

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