Fidelity and Envestnet Enhance Wealth Solutions

Author

Slice of Finance Team
19 Jun

Key Highlights:

  • Fidelity Managed Account Xchange® (FMAX) enhances wealth management capabilities.

  • New FMAX Essentials caters to smaller and mid-sized firms.

  • Integration with Envestnet’s Insurance Exchange and high-net-worth solutions.

  • Holistic wealth management solutions with ongoing tax management for model portfolios.

  • Better insights and reporting through Envestnet’s institutional data aggregation.

Source (Business Wire)

Notable Quotes

❝

"Investment management will always be the foundation of an advisor’s offering, but the rising demand for holistic wealth management means they must be more deliberate about where and how they spend their time. Fidelity and Envestnet are combining the best of both firms to make it easier for advisors to manage their books of business, provide sophisticated investment management, and integrate more financial planning services to help them remain competitive."

Gary Gallagher, Head of Wealth Advisory & Portfolio Solutions at Fidelity Institutional
❝

"As today’s advisors look to grow and scale their business, Envestnet’s expanded relationship with Fidelity is providing greater opportunities to optimize the advisor workflow; help reduce the time and effort required for account management tasks; seek to build deeper client relationships; and holistically address their financial planning needs. Providing personalized solutions for clients – at scale – is expected to become a more seamless and unified experience through this unique collaboration."

Andrew Stavaridis, Chief Relationship Officer and Group Head of Wealth Solutions Distribution at Envestnet

Our Take:

The expanded partnership between Fidelity Investments and Envestnet represents a significant step forward in the evolution of wealth management services. By integrating Fidelity’s Managed Account Xchange® (FMAX) with Envestnet’s comprehensive technology and data solutions, the collaboration addresses the increasing demand for holistic wealth management. This move not only enhances the capabilities available to advisors but also simplifies their workflows, allowing them to provide more sophisticated investment management and financial planning services. The introduction of FMAX Essentials, tailored for smaller and mid-sized firms, further underscores the commitment to offering flexible and scalable solutions across the spectrum of wealth management needs.