Fidelity Investment's program for helping advisors serve ultra-high-net-worth clients has grown to $2 billion in assets after its first six months, the company said.
Fidelity also announced Trevor A. Norton, former head of LPL Financial's RIA services group, has been hired as senior vice president and head of the ultra-high-net-worth client program.
The program was started in October to give RIAs access to Fidelity Family Office Services, which is designed for clients with $50 million or more in assets. The program offerings include a dedicated relationship management team, investment analysts and traders, and an open architecture reporting system.
"RIAs and their ultra-high-net-worth clients often expect a different level of service, and the initial success from both existing and new investor accounts is evidence that we can help meet those expectations," said Michael R. Durbin, president of Fidelity Institutional Wealth Services.