Investment Product and Service Launches

Art by Jackson Epstein

Fidelity Expands Model Portfolios

Fidelity Institutional has announced that Fidelity Model Portfolios are now available on 16 platforms including Envestment, Orion Portfolio Solutions and Orion Communities, the Riskalyze Partner Store, SMArtX Advisory Solutions, GeoWealth and Fidelity.

“Model portfolios help advisers efficiently manage clients’ assets so that they can focus on personal connections and more ‘human’ elements of value, like financial planning and helping provide peace of mind,” says Matt Goulet, senior vice president for portfolio solutions at Fidelity Institutional. “Advisers can customize model portfolios for investors’ unique needs, and that balance of efficiency and customization is resulting in a growing appetite for models among advisers. We’re also seeing advisers become increasingly discerning when it comes to the model portfolios they select, and our target allocation models are outperforming the vast majority of their peers.”

Fidelity introduced its Model Portfolios in June 2018 with the launch of the Fidelity Target Allocation Class I Series.

“Model portfolios help our advisers be more productive in less time, so that they can dedicate more energy to high quality engagements with their clients, which is a key priority,” says Bill Monroe, vice president, MML Investors Inc.

Fidelity Model Portfolios are also now integrated into the Wealthscape Modeling & Rebalancing tool, with the intention of making it easier for advisers to spend less time managing portfolios. Additionally, the company is beginning to roll out customized model portfolios at both the adviser and firm levels. These customizations can include vehicle replacements, preferences for certain managers, custom risk profiles and more.

T. Rowe Price Secures PNC Stable Value Fund

T. Rowe Price has acquired the assets of the PNC Stable Value Fund from PNC Bank. 

The assets, which total $1.2 billion, are now being managed in the T. Rowe Price Stable Value Common Trust Fund. Terms of this transaction, which was finalized on September 25, are not being disclosed.

As of September 30, T. Rowe Price manages more than $30 billion in stable value assets. The stable value portfolio management team is comprised of Antonio Luna, head of the team; Robert Madore; and Benjamin Gugliotta.  The team has combined investment experience of 79 years, including 59 with T. Rowe Price.