Fidelity’s Web-Based Tool Attracting RIAs

Fidelity announced several improvements to the system based on client feedback: 

• Create block orders directly from WealthCentral’s Portfolio Modeling & Rebalancing tool  
• Receive automated alerts when a mutual fund trade is entered that may be subject to a short-term redemption fee 
• Access new reports such as detailed holding by fixed income positions 
• Realize easier account access through  redesigned “lists and search” functionality 

According to Fidelity, the number of RIA client firms now using WealthCentral has surpassed 600 and is expected to more than double within the next year.

 Launched in December 2008, WealthCentral is an open technology platform that integrates advisers’ operational systems, from portfolio management and customer relationship management (CRM) to financial planning, portfolio rebalancing and trading, into one unified workstation (see “Fidelity Investments Launches WealthCentral“).  Advisers have the flexibility to use only those applications that best meet their specific practice needs. 

WealthCentral’s applications “talk” with each other, meaning advisers only have to enter client information into the system once.  The system then automatically updates and reconciles information across WealthCentral’s various applications; and because WealthCentral is Web-based, with all applications and client data hosted by Fidelity and third-party providers, it can dramatically help simplify an adviser’s need to manage technology.