Program Assets Rise to $6 Billion
as More Than 70 Broker/Dealers Join Since Inception

BOSTON, September 13, 2007 -- National Financial, a Fidelity Investments^® company, today announced that it has enhanced its Managed Account Solutions^® program with two major pieces of functionality -- the advisor-directed unified managed account (UMA) capabilities and the addition of three new third-party wrap strategists for mutual fund and exchange traded funds (ETFs) portfolios.

Since its launch in 2006, more than 70 brokers/dealers have brought $6 billion in managed account assets to National Financial's Managed Account Solutions program.¹

"As the demand for advice continues to grow, brokers need to have access to a flexible managed account program that allows them to be competitive and take a more proactive role in capturing the industry's $1.8 trillion² in managed account assets," said Jody Meth, executive vice president, National Financial. "We have invested significantly in the Managed Account Solutions program, offering our client firms access to the resources they desire to more effectively meet the wealth management needs of their customers, while also helping them attract and retain top-tier brokers and advisors."

Managed Account Enhancements Offer Additional Flexibility and Choice

Integrated into National Financial's Streetscape^® workstation, Managed Account Solutions is comprised of four scalable investment advisory programs - wrap strategists, unified managed account, separate account and rep as portfolio manager.

As an enhancement to the UMA program, the new advisor-directed UMA offers brokers the flexibility to modify the pre-determined selection of investment vehicles and money managers provided by the platform.

Managed Account Solutions recommends an asset allocation based on the investor's risk profile and then suggests a mix of products including money managers, mutual funds or ETFs for each asset class. With the new UMA enhancements, brokers and advisors can drill down and compare the diversified allocation options, analyze historical rates of return and then adjust the account's money managers, mutual funds and ETFs to best meet the clients' investment objectives. The program also offers systematic rebalancing to maintain the account's target asset allocations.

National Financial also announced the expansion of its wrap advisory program to include three third-party mutual fund and ETF wrap strategists. The new strategists, including Morningstar Investment Services, Inc., Standard & Poor's Investment Advisory Services LLC and Symmetry Partners, LLC, are accessible directly through Managed Account Solutions and allow broker/dealers to offer their brokers and advisors the ability to choose from multiple investment approaches in order to satisfy individual client needs.

Managed Account Solutions features a wide array of investment services and business-building resources for brokers and advisors. These include client profiling, portfolio diagnostic and proposal tools, consolidated reporting and model management capabilities, and ongoing sales support, training and education -- all of which are integrated into National Financial's Streetscape workstation and client services infrastructure. National Financial collaborated with Envestnet, one of the largest providers of wealth management solutions and a member of the National Financial alliance program, to develop Managed Account Solutions.

"Managed Account Solutions continues to set a new standard for managed account programs by providing broker/dealer firms access to an integrated, flexible offering that can help them effectively and efficiently grow their fee-based businesses," added Meth. "The integrated broker programs - including various broker education tools and online training materials - have also lent to the growing success of the platform."

About National Financial

National Financial, a Fidelity Investments company, offers Integrated Brokerage Solutions^® to nearly 340 clients ranging from retail broker/dealers to institutional investment firms. Collectively, National Financial's clients have more than 86,000 brokers. As of June 30, 2007, National Financial custodied over $693 billion in assets representing more than 5.5 million customer accounts. Integrated Brokerage Solutions incorporates innovative technology, products and programs, supported by dedicated client service professionals and trusted industry partners. This holistic, solutions-oriented approach is designed to help client firms attain competitive advantage by driving growth, creating efficiency and managing risk. For more information about National Financial and Integrated Brokerage Solutions, please visit www.nationalfinancial.com.

About Fidelity Investments

Fidelity Investments is one of the world's largest providers of financial services, with custodied assets of more than $3.2 trillion, including managed assets of $1.5 trillion as of July 31, 2007. Fidelity offers investment management, retirement planning, brokerage, and human resources and benefits outsourcing services to more than 23 million individuals and institutions as well as through 5,500 financial intermediary firms. The firm is the largest mutual fund company in the United States, the No. 1 provider of workplace retirement savings plans, the largest mutual fund supermarket and a leading online brokerage firm. For more information about Fidelity Investments, visit www.fidelity.com.

¹National Financial: As of August 31, 2007.

²The Cerulli Edge, Managed Accounts Edition, Q2 2007.

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