Fidelity is looking for an in with financial advisers by adding more model portfolios — and they’re built with its own funds as well as ETFs from rival BlackRock
|01/15/2020||Posted by BusinessMediaguide.Com under General World News||
- 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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