MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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|
MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Tuesday, June 19, 2001 Grow Fido, Grow! Fidelity revealed its high net worth strategy today: unabashed growth. "To keep pace with our clients' complex investing needs," said Dan Geraci, president of Fidelity Private Wealth Management, explaining the applicability in the RIA, B/D, and direct channels, "we are expanding our wealth management services so that we are better positioned ... for wealthy investors." In 2001 alone, the largest money management firm in the world will add an additional 350 employees and nine investor centers to service the moneyed segment. New investor centers are planned for Arizona, California, Illinois, New Jersey, and New York; executives are following a five-year plan of aggressive network expansion. Additionally, Fidelity added individual fixed-income securities as part of an overall asset allocation strategy through its Private Portfolio Services. The new component is available to clients $1 million plus portfolios. Mutual fund wrap products are offered at minimums of $500,000. Beginning in July, Fidelity's Institutional Brokerage Group will introduce a structured equity products program, a new separate account program, an enhanced asset management account, an administrative trustee services program and an enhanced brokerage statement. The brokerage arm, headed up by president David Denison, is also developing a separate account network of money managers where advisors will access certain due diligence information on accepted managers through a proprietary site that contains performance data, firm profiles, style analysis and other investment information. The Boston-based gorilla has custodied assets of $1.5 trillion, including managed assets of $914.2 billion. Printed from: MFWire.com/story.asp?s=26854 Copyright 2001, InvestmentWires, Inc. All Rights Reserved |