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Intelligent Advisor

Fidelity Offers Envestnet Workstation To Retirement Planners

Fidelity Clearing and Custody announced a new partnership with Envestnet that lets retirement plan advisors use the Envestnet Retirement Solutions desktop workstation. Retirement advisors with have single sign-on access to Retirement Solutions through their existing Fidelity WealthCentral and Streetscape platforms.

Fidelity has recorded a 51 percent increase in the number of firms focused on growing their retirement plan business, but advisors named time and resources as the top challenges to offering retirement planning. According to Fidelity research, the best way technology can help is by creating efficiencies in an advisor’s workload.

Meg Kelleher, Fidelity Clearing and Custody’s senior vice president of the retirement advisor and recordkeeper segment, said the new integration would create these efficiencies by giving retirement plan advisors all the data and service providers they need in one location.

“The industry has realized the opportunity that retirement plans present; now, many firms are focused on scale and asking how do we grow this die of the business efficiently?” Kelleher said in a statement. “We see this workstation as the first important step in our open architecture platform which will drive efficiency for retirement plan advisors.”

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The Envestnet Retirement Solutions workstation would be available to retirement plan advisors in the first quarter of 2016. 

TAGS: Technology
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