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New Resources Include Access to Marketing Consultants
and Online Marketplace for Small Business Services
BOSTON, March 3, 2008 -- Fidelity Investments® today announced the launch of a newly enhanced practice management platform for registered investment advisors (RIAs) that includes an innovative marketing consultation program and online marketplace that provides access to products and services that are important for small growing businesses.
The new Fidelity Marketing Consulting program offers advisors personalized, one-on-one consultation, while the online marketplace, Fidelity Practice Perks, gives advisors the ability to shop for essential business services from top retailers and service providers nationwide.
With the two new resources, the Fidelity Practice Management Program now offers advisors access to nearly 50 providers, making it one of the industry's most comprehensive practice management platforms. As part of the program, Fidelity has negotiated discounted pricing and customized offers for many of the services available through the program.
"Advisors realize that to compete effectively, they need to look for better, faster and cheaper ways to manage all aspects of their practices," said Gail Graham, executive vice president, Fidelity Institutional Wealth Services. "Firms want counsel from industry experts and access to proven products and services that will allow them to quickly and confidently build their business. That's why we've taken the time to create a comprehensive practice management platform that draws upon Fidelity's own in-house professionals, while also providing access to highly credentialed industry service providers."
Innovative Fidelity Marketing Consulting and Online Marketplace Offerings
Fidelity's new Marketing Consulting program offers advisors access to a team of accomplished Fidelity marketing specialists, who will provide one-on-one consultations and program management to help with the development of strategic marketing initiatives. Advisors also can access Fidelity's network of third-party marketing service providers for branding and positioning strategies, Web site design and other services, or simply use Fidelity's turnkey online marketing program, PracticeMarkSM.
"I can't provide value to advisors if no one knows we exist," said Dave Roberts, president, National Advisors Trust Company1, a Fidelity client that provides trust and custodial services to a network of advisors across the country. "In an increasingly competitive space, the breadth and depth of marketing support and services we were able to access with Fidelity's resources helped us rebrand our trust company to create better awareness of our value to advisor firms. We now have a fresher look and a cleaner, easier to use Web site to support advisors and clients."
Fidelity's new online marketplace for advisors, Practice Perks, provides advisors access to business products and services, such as office supplies, computers and travel, among others, from top retailers and service providers nationwide. Practice Perks is also offered in conjunction with Shopping Perks, which allows Fidelity's clients to reward their customers with access to discounts on products and services from hundreds of retail merchants.
Fidelity Program Organized to Help Clients Meet Three Critical Needs
The Fidelity Practice Management Program is organized around providing advisors access to the resources they need to help them meet three critical business needs: Accelerate Growth, Streamline Operations, and Manage Risk.
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Accelerating Growth -- To help RIAs accelerate growth, the Fidelity program provides a full spectrum of growth-oriented services that address the core areas of business development, ongoing market intelligence, customized marketing support and practice transitions, among others.
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Streamlining Operations -- The Fidelity program can help advisors streamline operational efficiency by providing access to a broad range of services in areas such as office management services, financial educational resources and market research tools and technology.
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Managing Risk -- The Fidelity program can help advisors better manage compliance and legal issues. The services offered include legal and regulatory compliance, email compliance, holistic liability coverage, as well as fiduciary services and disaster recovery.
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"While it is extremely important to provide a comprehensive scope of practice management tools and services, it's not the services alone that set our new program apart, it's the way we deliver them," said Graham. "The hands-on consultative relationship we form with clients is what really differentiates our program and positions us to help our clients thrive and grow profitably."
Fidelity Hosts Online Forum on Industry Insights and Practice Management Solutions for RIAs
On Tuesday, March 11, 2008, at 1:00 p.m. EST, Fidelity will host a Webinar to present the results of its recent study on the fastest growing RIA practices and the challenges they face. To help advisors address these challenges, the forum will highlight several practice management ideas and resources, which include new Fidelity-managed service offerings as well as those provided through its third-party strategic relationships, as reflected in today's Practice Management Program launch. Advisors can register for the Webinar at http://fiws.fidelity.com.
About Fidelity Institutional Wealth Services
Fidelity Institutional Wealth Services is a leading provider of trading, custody and brokerage services to Registered Investment Advisors, Trust Institutions and Third Party Administrators. The company is able to leverage the capital, resources and expertise of the Fidelity organization, one of the world's largest financial services companies, on behalf of its clients. This includes access to a comprehensive set of products and services, innovative investment tools and research, an integrated brokerage and trust platform, and dedicated client service professionals - all designed to help its clients thrive by growing their businesses, more effectively meeting customer needs, and enhancing operational efficiency and profitability. Fidelity Institutional Wealth Services custodies over $348 billion in assets on behalf of more than 4,000 clients, as of December 31, 2007. For more information about Fidelity's services, please visit http://fiws.fidelity.com.
About Fidelity Investments
Fidelity Investments is one of the world's largest providers of financial services, with custodied assets of $3.3 trillion, including managed assets of more than $1.5 trillion as of January 31, 2008. Fidelity offers investment management, retirement planning, brokerage, and human resources and benefits outsourcing services to 24 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.
1Dave Roberts is a customer of Fidelity. His business needs and results may not reflect the experience of other Fidelity customers.
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The third party service providers listed are independent companies and are not affiliated with Fidelity Investments. Listing them does not suggest a recommendation or endorsement by Fidelity.
Clearing, custody, or other brokerage services may be provided by National Financial Services LLC or Fidelity Brokerage Services LLC, Member NYSE, SIPC.
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