Fidelity Institutional has announced a new solution to provide structured investments for wealth management firms and registered investment advisors (RIAs).
The offering is provided through a collaboration with fintech firm SIMON Markets.
According to the company, the solution will help advisors in building client portfolios. The clients will receive access to structured investments through Fidelity’s advisor technology platform Wealthscape.
Structured investments are bank-issued notes and certificates of deposits that can offer returns based on the performance of an index or basket of securities.
Fidelity Institutional Fidelity Capital Markets president Thomas Tesauro said: “The integration with SIMON’s structured investment management platform through Wealthscape is a key differentiator for Fidelity.
“This offering provides our clients with a comprehensive solution to simplify their workflow and better manage their book of business.”
This digital solution will provide overview of current offerings across all of Fidelity’s issuers in one location with filtering and analysis features. The straight-through order processing will be powered by digital fixed income trading solution Fidelity Bond Beacon.
The offering will also offer educational and training material on structured investments for advisors among other benefits.
SIMON chief business development officer Joseph Giordano said: “With our shared vision of driving transparency, efficiency and growth, we look forward to working with Fidelity to help create more seamless and comprehensive wealth management for all and, by extension, deepening SIMON’s footprint in the RIA and intermediary spaces.”
Fidelity Institutional is a division of Fidelity Investment.
In September, Fidelity Investments appointed Joanna Rotenberg to lead its $4.1 trillion Personal Investing unit. The appointment became effective this month.
