In response to what it says is a 51 percent increase in the number of “emerging” retirement plan advisors since 2013, Fidelity has announced a new relationship with Envestnet Retirement Solutions.

ERS’s retirement plan advisor platform integrates investment product research, plan and firm compliance tools, and a managed account capability.

Broker-dealer and advisor firms that clear trades through Fidelity will have access to the ERS platform through Fidelity’s proprietary WealthCentral and StreetScape platforms.

“The industry has realized the opportunity that retirement plans present; now, many firms are focused on scale and asking how do we grow this side of the business efficiently?” said Meg Kelleher, senior vice president, retirement advisor and recordkeeper segment, Fidelity Clearing & Custody.

“We see this workstation as the first important step in our open architecture platform which will drive efficiency for retirement plan advisors,” she added.

“This new Envestnet Retirement Solutions workstation will help advisors more easily put technology to work for their businesses by integrating into the systems and service providers they are already using,” said Babu Sivadasan, Group President of ERS.

“It will also serve as a single solution for needs that are often outsourced or pieced together by firms, including compliance reporting and plan reporting,” he said.

In September, MassMutual also announced a new relationship with ERS, offering its managed account platform to workplace retirement plans with more than $5 million in assets.

ERS has strategic relationships with Charles Schwab, Pershing, Folio, and Sunguard.

Envestnet, Inc., of which ERS is a subsidiary, was founded in 1999, when it began developing and marketing wealth management software solutions to retail advisors.

In 2010 the company went public. As of 2014, the firm served more than $638 billion in platform assets, and more than 2.8 million investor accounts, according to its website.