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Fidelity’s mission is to inspire better futures and deliver better outcomes for the customers and businesses we serve. With assets under administration of $7.3 trillion, including discretionary assets of $2.9 trillion as of March 31, 2020, we focus on meeting the unique needs of a diverse set of customers: helping more than 32 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.

Begonya Klumb

Head of HSA at Fidelity

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Asset Managers: New Product Development
Fidelity HSA for Advisors
In January 2020, Fidelity launched the industry’s only full-service health savings account (HSA) for financial intermediaries. Fidelity’s broker-dealer, bank and registered investment advisor clients can help the investors they work with better prepare for and manage health care expenses – and invest in their long-term well-being in a highly tax efficient way – through Fidelity’s award-winning HSA solution. The Fidelity HSA® is a full-service, open architecture brokerage account that is available in WealthscapeSM, Fidelity’s advisor technology platform. Fidelity acts as the HSA custodian and provides all services through its robust brokerage platform – resulting in a turnkey solution that allows advisors to handle all aspects of clients’ HSAs, including professional investment management and operational oversight, in one place.

Jordan Burgess

Head of Product & Practice Consulting, Fidelity Institutional

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Custodians (Established – $25B and Over): Practice Management
Fidelity Helps Advisors Navigate Convergence and Consolidation Trend
The industry is facing a persistent organic growth challenge, leading to an increased pace of business evolution, consolidation and convergence of models. Fidelity is helping advisors address these trends through an amplified practice management approach that delivers timely insights, actionable ideas and opportunities for peer-to-peer learning through one-to-one consulting engagements, research and whitepapers, events, campus recruiting collaborations, podcasts, media and social media. With a strategic focus on M&A and talent, in the past 18 months, our practice management events (e.g. M&A Leaders Forum, Recruiters Summit and Inside Track) and dedicated thought leadership (monthly and quarterly M&A Transaction Reports, Advisor Movement Study, Advisor Retention Study) were augmented by the 2019 M&A Deal Valuation and Structure Study, talent-focused Think Tank Days and custom regional events.

Lisa Burns

Head of Platform Technology for Fidelity Institutional

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Custodians (Established – $25B and Over): Technology
Wealthscape Onboarding Experience
Fidelity is transforming how advisors do business with its fully digital account onboarding experience in WealthscapeSM, its advisor technology platform. This integrated workflow for opening, funding and establishing features in accounts streamlines advisors’ day-to-day work – and their clients’ user experience – allowing them to focus more on adding greater client value through activities like financial planning. Advisors can digitally open accounts, fund accounts through one or more transfer of assets (TOA), and add features like asset movement authorization and standing instructions, all without any paper. The experience began rolling out in early 2020 and adds to Fidelity’s previously existing digital capabilities. Fidelity continues to add features and functionality, including support for multi-account onboarding, managed accounts, and features like margin, options, and prime brokerage.

Andrew Fay

Head of Fidelity Family Office Services

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Family Officers: Thought Leadership
Fidelity Releases Family Office Investment Study
The Fidelity Family Office Investment Study included 111 respondents from across the United States, representing over $180B in AUM. The study focused on several key areas for family offices as they balance increased cost and complexity, including asset allocation, fees, office structure, and staffing. Additionally, survey participants were asked to provide their thoughts on the most compelling investment opportunities and biggest potential risks over the next three to five years. This initiative was driven by the Investment Collaborative, which Fidelity introduced in 2019. Offering diverse investment and consulting capabilities, the group is committed to helping family offices navigate the growing complexity of their investment programs, along with identifying opportunities.
Transform for the Future
The Great Enabler White Paper
Fidelity Quarterly M&A Review

About the Initiative

Guided Income Solutions℠ (GIS) is a turnkey, bucketed investment solution designed to deliver steady and tailored cash flows to clients planning for retirement. The bucketed investing framework provides an intuitive approach to converting clients’ nest eggs into an automatic income replacement based on their personal financial goals; the buckets automatically rebalance to systematically reduce risk and accommodate investors’ needs. GIS provides an alternative to annuities; delivering an investment approach that is flexible, liquid, and cost-effective.

GIS aims to transform and enhance current retirement income solutions, to: