Fidelity Institutional Wealth Adviser (FIWA) offers the Fidelity Managed Account Xchange® Essentials program (FMAX Essentials), an investment platform for financial services firms (Intermediaries) to provide wealth management solutions to their clients (Investors). The platform offers access to investment solutions like fund strategist portfolios, separately managed accounts, mutual funds, and exchange-traded products from various investment managers, including FIWA and its affiliates. FIWA earns compensation from investments made through the platform, creating a potential conflict of interest, which is addressed through disclosure. The platform also provides research, client reporting, and other tools to assist Intermediaries.
Fee Structure
FIWA does not directly manage investments for individual investors. Instead, FIWA provides a platform that financial service firms can use to manage investments for their clients. FIWA does not charge a platform fee for accounts that only use investment options managed by FIWA and its affiliates. For accounts that use investment options from other companies, FIWA charges a platform fee based on the amount of assets in the account.