Fidelity Institutional announced Monday it has reached $100 billion in managed account assets on its web-based Envestnet Inc. platform.
The growth on Fidelity’s managed account platform is twice that of the overall industry rate, according to a statement from the two companies.
Fidelity cites three reasons to explain why its managed account platform is growing so fast.
Managed accounts allow advisors to foster deeper client relationships, according to Fidelity’s explanation. And thanks to the technology behind Fidelity’s managed accounts, advisors are better able to demonstrate their value proposition to clients, it said.
Managed accounts also give RIAs increased opportunity for recurring revenue. That possibility is driving more RIAs to market the accounts to their client base, according to Fidelity.
According to research from Boston-based Cerulli Associates, the managed account market is expected to climb to $6.7 trillion by 2017.
“Our industry has reached a critical tipping point where advisors who embrace new ideas and technology are seeing their businesses grow,” said Jud Bergman, CEO of the Chicago-based Envestnet.
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
