Fidelity Clearing & Custody Solutions® today announced the addition of customized investment models to Fidelity Automated Managed Platform (AMP), its award-winning, financial planning-led digital advice solution. By combining digital advice capabilities, goals-based financial planning and personal advisory relationships, Fidelity AMP helps advisors meet the needs of the more than 60% of investors who want a combination of digital capabilities and access to human advicei. Advisors can now further tailor the experience through customized investment models, which are beginning to roll out in Fidelity AMP to a limited number of initial firms.
The update gives advisors the ability to customize portfolios in Fidelity AMP by creating models based on end-investors’ risk tolerance and other factors. Advisors can build curated models using a wide range of funds from across the industry, as well as define the asset allocations, truly resulting in a customized experience for their clients.
“Digital advice solutions help advisors meet investors’ varied, evolving needs, and Fidelity AMP hits the balance of digital and human elements that advisors have said they’re looking for – allowing them to collaborate with investors on financial planning and evolve alongside those clients,” said Gary Gallagher, head of Investment and Managed Solutions, Fidelity Institutional. “Fidelity AMP helps advisors focus on higher value conversations with investors, effectively leverage digital advice to serve more clients and scale their businesses, and efficiently offer personalized experiences – even more so now with custom investment models.”
Enhancements to Fidelity AMP Continue to Meet Advisor and Investor Needs
Fidelity AMP is a comprehensive, easy-to-use digital advice solution that firms and advisors can customize and integrate with their existing offerings, including white-labeling the end-investor portal with their branding. Co-developed by Fidelity and eMoney Advisor, Fidelity AMP was purpose-built based on conversations with advisors about how the digital advice solution could best meet their needs and help them deliver maximum value to investors. The Fidelity AMP team continues to improve the solution based on ongoing discussions, and it now features:
- Enhanced education and guidance in the end-investor portal, helping direct investors through account opening, account funding, and goal creation and management. This makes it easier for investors to manage the digital aspects of their accounts, which means they can focus on higher value topics during conversations with their advisors, such as life event planning.
- Deeper data integrations that enable firms and advisors to more tightly integrate the platform with their online portals. The integrations – which include single sign-on, account opening and money management data prefills, auto aggregation, integrated planning, and digital account set-up – streamline the onboarding workflow, resulting in increased efficiency and more time for customer interactions and relationship building.
“The planning-led nature of Fidelity AMP helps advisors build relationships with investors who want a digital solution, and then grow them over time on the same platform as investors’ needs evolve,” said Ed O’Brien, chief executive officer of eMoney Advisor. “Further simplifying the advisor and investor experiences allows them to focus more on those planning discussions.”
To meet the varied needs of its institutional clients, Fidelity offers two different deployment options for Fidelity AMP: a call-center/enterprise model, where all accounts are assigned to a home office representative, and an advisor model, which enables a firm’s advisors to open Fidelity AMP accounts with their individual branding. Both offer straight-through processing and deep levels of customized configurations.
“Digital advice strategies help advisors add value for a range of customer segments – whether it’s millennial family members of multi-generational clients who are looking for a digital option, or lower margin accounts that require the scale of a digital solution,“ said Gallagher. “Advisors are also using digital advice to help clients understand their full financial picture and consolidate assets, simplifying their end-experience.”
Fidelity AMP Resonating in the Market
Fidelity AMP has been deployed by nearly 50 institutions including banks, broker-dealers and RIA firms. Among the institutions that have deployed Fidelity AMP are Avantax Wealth Management, CBIZ Investment Advisory Services, FCG Wealth Management, Fifth Third Securities, FTB Advisors, Goodwin Investment Advisory, and more. Clients especially value Fidelity AMP’s deep data integrations, customizable end-investor portal and integrated planning capabilities.
In April 2019, Fidelity AMP won a Celent Model Wealth Manager award. The sole winner in the Products & Platforms category, Fidelity AMP was honored for its ability to maximize the scope and impact of advice, and to help advisors manage investor relationships. Celent is a global financial services research and advisory firm.
Fidelity AMP accounts are accessible via Wealthscape, Fidelity’s advisor technology platform. To learn more about Fidelity AMP, click here. To learn more about Wealthscape, visit go.fidelity.com/wealthscape.
About Fidelity Investments:
Fidelity’s mission is to inspire better futures and deliver better outcomes for the customers and businesses we serve. With assets under administration of $7.7 trillion, including managed assets of $2.8 trillion as of August 31, 2019, we focus on meeting the unique needs of a diverse set of customers: helping more than 30 million people invest their own life savings, 22,000 businesses manage employee benefit programs, as well as providing more than 13,500 financial advisory firms with investment and technology solutions to invest their own clients’ money. Privately held for more than 70 years, Fidelity employs more than 40,000 associates who are focused on the long-term success of our customers. For more information about Fidelity Investments, visit https://www.fidelity.com/about.
The content provided herein is general in nature and is for informational purposes only. This information is not individualized and is not intended to serve as the primary or sole basis for your decisions as there may be other factors you should consider. Fidelity Clearing & Custody Solutions does not provide financial or investment advice. You should conduct your own due diligence and analysis based on your specific needs.
eMoney Advisor LLC is a Fidelity Investments company and an affiliate of Fidelity Brokerage Services LLC and National Financial Services LLC. All other third parties referenced herein are independent companies and are not affiliated with Fidelity Investments. Listing them does not suggest a recommendation or endorsement by Fidelity Investments.
The experience of the clients relayed in this article may not be representative of the experiences of all customers and is not indicative of future success.
Fidelity Clearing & Custody Solutions® provides clearing, custody, or other brokerage services through National Financial Services LLC or Fidelity Brokerage Services LLC, Members NYSE, SIPC. 200 Seaport Boulevard, Boston, MA 02210.
Products and services provided through Fidelity Institutional Asset Management® (FIAM®) to investment professionals, plansponsors and institutional investors by Fidelity Investments Institutional Services Company, Inc., 500 Salem Street, Smithfield, RI 02917.
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i 2018 Fidelity Investor Insights Study