Fidelity Investments Launches WealthCentral, A Wealth Management Platform for Advisors

Fidelity Investments has formally launched Fidelity WealthCentral, the industry's first Web-based wealth management platform that integrates Registered Investment Advisors' (RIA) most critical operational systems. WealthCentral brings together portfolio management, customer relationship management (CRM), financial planning, portfolio rebalancing and trading into one unified workstation. The platform has been implemented with 25 clients, and will be rolled out to Fidelity's remaining 3,500 RIA clients throughout 2009 and 2010.

Fidelity also revealed results from a study conducted by Moss Adams, on its behalf, that found that RIAs that have integrated core technology applications made 36 percent higher revenue per professional and 30 percent higher profits per owner, compared to those firms that have not integrated. "Since we announced the development of WealthCentral, the response from advisors has been overwhelming," said Scott Dell'Orfano, executive vice president, Fidelity Institutional Wealth Services, in a press release. "Now more than ever, advisors see that efficiency is a way to help enhance profitability. WealthCentral is designed to address this need by helping to relieve advisors of the burdens of managing technology and conducting data reconciliation. We are confident WealthCentral will help transform the way advisors approach their business," he said.

"With WealthCentral, Fidelity is offering both a line-up of 'best-of-breed' third-party business applications and an unprecedented level of technology integration. The result of this combination is a well-rounded wealth management platform for registered investment advisors," said Alois Pirker, senior analyst, Aite Group, in a press release. "Aite Group's most recent research indicates that RIAs are demanding this type of advisor platform. Fidelity is leading the way in addressing these requirements," he said.