has re-branded its Registered Investment Advisor Group as Fidelity Institutional Wealth Services. The move is designed to recognize the increased role that trust
institutions and TPAs play in the wealth management space. Never one to act rashly, Fidelity did research that supports the re-brand.
Fidelity Registered Investment Advisor Group was today
renamed Fidelity Institutional Wealth Services. Although Registered Investment Advisors (RIAs)
currently make up a majority of the business, the change recognizes the evolving role trust
institutions and Third-Party Administrators (TPAs) also play in meeting the wealth management
needs of investors.
The evolution of the market is supported by Fidelity research and third-party data.
According to research conducted for Fidelity, the majority (70%) of millionaires work with at least
one financial professional, and an additional 13 percent report they are likely to start working with
one over the next 12 months.1 Additionally, assets in personal trusts are expected to increase from $3
trillion today to $7 trillion by 20102. While increased flows into TPAs has resulted in their market
share increasing to 35 percent, up from 28 percent in 2000.3
“The growing reliance on workplace retirement plans, the maturing of the Baby Boomers
and greater consumer demand for access to sophisticated wealth management products and services
is driving the evolution of our clients’ businesses,” said John W. “Jack” Callahan, president, Fidelity
Institutional Wealth Services. “While our name is changing, our commitment to clients has never
been stronger. Our goal is to connect our clients to the strongest platform in the industry, providing
new ways to help them thrive and grow profitably.”
1 Based on the Fidelity Millionaire OutlookSM, a survey of 2,507 financial decision makers at households with at
least $1 million in investable assets, excluding workplace retirement accounts or any real estate. The survey was
conducted online at the end of 2006 by Burke, Inc., an independent research firm, not identifying Fidelity as its
sponsor. The data are representative of the US millionaire household population, with a margin of error of +/- 2%.
Source: Tiburon Strategic Advisors, Estate Planning & Charitable Giving Through Life Insurance & Trust
Accounts, June 2005.
Source: Spectrem Group, 2006.
Fidelity Institutional Wealth Solutions/Page 2
Established in 1992, Fidelity Institutional Wealth Services is a leading provider of trading,
custody and brokerage services to RIAs, trust institutions and TPAs. The company custodies more
than $290 billion in assets on behalf of approximately 3,800 clients,4 up 42 percent and 17 percent
year-over-year, respectively. Additionally, Fidelity Institutional Wealth Services realized $36 billion
in net new client assets in the first half of 2007, up 111 percent over the same period last year.
Fidelity Institutional Wealth Services also announced the launch of a new brand advertising
campaign. It speaks to the name change as well as the company’s focus on offering RIAs, trust
institutions and TPAs the technology, products and service they need to meet the evolving needs of
their customers, while growing more profitable businesses. The campaign comprises print and online
ads, direct mail and a redesign of the company’s Web site (http://fiws.fidelity.com).
Fidelity Institutional Wealth Services’ name and brand are driven by four key attributes:
• Leveraging the Fidelity organization: Fidelity Institutional Wealth Services’ primary
objective is to help clients build their businesses, providing them access to the resources
of the Fidelity organization, such as technology, innovative platforms, products and tools
as well as its commitment to customer service.
• Entrepreneurial spirit: Fidelity’s entrepreneurial heritage and private ownership
structure are competitive advantages for Fidelity Institutional Wealth Services. Investing
for the long term, moving quickly to take advantage of change, and finding unique and
better ways to serve clients are attributes Fidelity Institutional Wealth Services shares
with many of its entrepreneurial clients and their businesses.
• Commitment to a strategic partnership: Fidelity Institutional Wealth Services’ vision
is to be viewed as a strategic partner and advocate for what matters most -- doing what’s
in the best interest of its clients, their customers and the industry.
• Trusted reputation: The reputation and brand strength of Fidelity is important to
Fidelity Institutional Wealth Services and its clients, who benefit from this brand value
and the credibility it infers. In fact, according to a recent marketplace representative
survey of RIAs, trust institutions and TPAs, the vast majority (86%) stated they have trust
and confidence in Fidelity, the highest level among the major custodians. In addition,
Fidelity received the highest percentage (80%) of financial institutions saying the
company provides them with credibility.5
As of June 30, 2007.
Based on a national survey conducted for Fidelity by Northstar Research Partners, an independent research firm
specializing in financial services and not identifying Fidelity as the sponsor. The survey was conducted on the
phone in April 2007 and has completed responses from 353 firms (RIA, trust and TPA) who currently use a clearing
and custody provider. The data are representative of U.S. RIA, trust and TPA firms, with a margin of error of +/-
Fidelity Institutional Wealth Solutions/Page 3
“The demand for wealth management services among investors is increasing, fueling the
growth for RIAs, trust institutions and TPAs,” said Callahan. “Our new name recognizes the
changing needs of our clients and their customers as well as the breadth of the types of clients we
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 more than
$290 billion in assets on behalf of over 3,800 clients, as of June 30, 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 $3.2 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
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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