In a bid to make life easier for retirement advisors and consultants, particularly in complying with the new fiduciary rule from the U.S.Department of Labor, Fidelity Investments is piloting a new website.
FidelityConnect, which is expected to be fully available during the first quarter of 2017, is designed for the advisors and consultants who manage workplace plans with the firm.
Its dashboard provides a complete “book of business” snapshot of all an advisor’s defined contribution plans for which Fidelity is recordkeeper. It also improves upon Fidelity’s plan-level analytics, the company said.
The new site was built with input from more than 150 retirement advisors, Fidelity said, taking into account how much time those advisors spend researching investments, compiling reports and navigating the existing site.
The homepage provides a personalized executive summary with three tabs: plans, investments and compensation. This view offers advisors immediate high-level analysis of all their Fidelity plans, as well as the ability to drill down for details.
Plan-level information is available to view and evaluate individual plan statistics and design, investments held, compensation and contact information for sponsor clients. All plans and participants invested in a single fund across a book of business, plus their performance and assets, are available to view with a couple of clicks.
FidelityConnect is also designed to provide advisors with greater access and control over a client’s plan design and investments as they seek to comply with the Labor Department rule.
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