Allstate Financial Advisors (AFA) provides investment advisory services to individuals, trusts, estates, charities, corporations, and other business entities. AFA recommends and monitors third-party investment managers, specifically Fidelity Institutional Wealth Adviser (FIWA) and its FMAX wrap fee program. Through FMAX, clients select investment portfolios, and AFA representatives review performance and discuss changes in investment objectives annually.
Fee Structure
Allstate Financial Advisors (AFA) uses Fidelity Institutional Wealth Adviser's (FIWA) FMAX wrap fee program. The fee covers investment advice and trading costs, based on a percentage of the assets managed, up to 1.5%. AFA receives part of this fee, creating a potential conflict of interest. Clients should compare the FMAX program's overall cost and service with other options, including brokerage accounts and other advisor programs.