New Enhancements to Fidelity Managed Account Xchange (FMAX) Platform

Fidelity Investments and Envestnet have revealed several new and upcoming upgrades to the Fidelity Managed Account Xchange (FMAX) platform.

Introducing Tax Management and FMAX Essentials

FMAX now includes tax management for model portfolios, including Fidelity Custom Models. Additionally, a slimmed-down version of the platform, FMAX Essentials, is set to launch later this year, catering to small- and mid-sized firms.

Exciting Integrations with Envestnet

FMAX integrations with Envestnet are also on the horizon. These integrations will encompass Envestnet’s Insurance Exchange and the Vantage institutional data aggregation product. Envestnet’s Insurance Exchange, which offers annuities from various providers, has successfully transitioned from its pilot stage to widespread availability in 2019.

Enhanced Visibility and Accessibility

The Vantage integration will empower advisors to monitor positions and portfolios both on and off Fidelity’s brokerage platform. Envestnet and Fidelity Investments will progressively roll out these integrations throughout the year and into 2025.

Future-Focused Approach

Gary Gallagher, head of wealth advisory and portfolio solutions at Fidelity Institutional, emphasized that these enhancements are borne out of advisor needs and industry trends. The evolving complexity faced by advisors today necessitates innovative solutions to meet their demands effectively.

Empowering Advisors with Education and Resources

Advisors on the FMAX platform already benefit from Fidelity Institutional Wealth Adviser, offering research on various investment managers and portfolio solutions. Notably, over 1,000 advisors have participated in the Wealth Advisory Institute’s educational program, underscoring a commitment to continuous learning and development.

Continued Progress and Collaboration

Fidelity first introduced the FMAX platform in 2019 and officially launched it in late 2020. With over $500 billion collectively managed by Fidelity Investments and Envestnet, the partnership continues to drive innovation and value for advisors and clients.