Fidelity Institutional Wealth Adviser LLC
Assets Under Management
$6.5B
Number of Clients
52,688
Number of Advisors
41
Average Client AUM
$123K
AUM per Advisor
$157.8M
Compensation
Fee-Only (AUM)Fixed/Hourly
About This Firm
Fidelity Institutional Wealth Adviser LLC (FIWA) offers customized separately managed accounts (SMAs) to individuals, RIAs, and institutional clients. FIWA delegates discretionary management to its affiliate, FMR LLC. Accounts invest in equity or fixed income securities based on client-mandated guidelines. Clients can customize strategies with tax management considerations and investment restrictions. FIWA does not act as a fiduciary under ERISA.
Fee Structure
Investment management fees are based on the type of strategy and the amount of assets in the account. Fees vary based on portfolio size, breakpoints, product structure, servicing requirements, asset aggregation, and minimum fee arrangements. Fees may be subject to negotiation and can be higher or lower across different managed account programs. Passive equity strategies range from 0.16% to 0.28%, active equity strategies range from 0.28% to 0.55%, and fixed income strategies range from 0.18% to 0.30%. Clients are also subject to custodial, brokerage, and other transaction costs.
Areas of Practice
Location
245 Summer Street, Boston, MA, 02210