Abigail Johnson, the chief executive of Fidelity.

Investment management giant Fidelity is adding more fixed-income model portfolios to its menu of products available to financial advisers.
It’s making that move against the backdrop of a fast-changing competitive landscape for brokerage, wealth management, and asset management.
While Fidelity doesn’t charge advisory fees for the model portfolios, it charges investment management fees for the underlying funds. The portfolios’ average expense ratios range from 0.30% to 0.38%.
The portfolios will be built using Fidelity’s own mutual funds and ETFs, the firm said, as well as third-party ETFs including BlackRock’s iShares. BlackRock is set to report fourth-quarter earnings on Tuesday.
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Investment-management giant Fidelity is adding more fixed-income model portfolios to its menu of products available to financial advisers.

It’s making that move against the backdrop of a fast-changing competitive landscape for brokerage, wealth management, and asset management. Fees for asset managers have been under increasingly intense pressure, and discount brokers raced to slash stock and ETF trading commissions to zero in the fall of 2019.

Model portfolios are built out of mutual funds and ETFs and can help replace portfolio construction via individual securities by financial advisers. Plus, they offer a prepackaged way to distribute asset …read more


Source:: Businessinsider – Finance

      

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