According to Fidelity Investments, WealthCentral brings together portfolio management, customer relationship management, financial planning, portfolio rebalancing and trading into one unified workstation. The platform has been implemented with 25 clients, and is expected to be rolled out to Fidelity’s remaining 3,500 registered investment advisor (RIA) clients throughout 2009 and 2010.
Fidelity Investments said that WealthCentral’s core applications are all compatible with each other, so that advisors will only have to enter client information into their system once. The system then automatically updates, and through the integration of Advent Back Office Services, reconciles information across the platform’s various applications.
Scott Dell’Orfano, executive vice president of Fidelity Institutional Wealth Services, said: Now more than ever, advisors see that efficiency is a way to help enhance profitability. WealthCentral is designed to address this need by helping to relieve advisors of the burdens of managing technology and conducting data reconciliation. We are confident WealthCentral will help transform the way advisors approach their business.