Fidelity and Envestnet Enhance Wealth Solutions
Slice of Finance Team
06/18/2024
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)
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
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.
