Envestnet managed accounts platform now available to Fidelity Clearing Canada clients

TORONTO, June 5, 2018 /CNW/ - Fidelity Clearing Canada (FCC), one of Canada's leading trade execution, custody and back-office support services providers, announced today a collaboration with Envestnet to provide its clients with an integrated platform for managed accounts. Envestnet is a leading operating system for wealth management in North America with over 87,000 advisors and $2.6 trillion in total platform assets.

The platform features comprehensive analytics, portfolio assessment and performance reporting tools to drive enhanced decision-making and allow for deeper insight into the advisors' book of business. Clients also have the advantage of leveraging Fidelity's well-established trade execution, custody and client reporting capabilities.

Recent reports indicate that discretionary brokerages are experiencing significant growth in Canada. Between 2013 and 2018, AUM in this channel jumped from $136 billion to $268 billion, representing a 25.5 per cent increase.

"FCC is addressing the growing demand for sophisticated fee-based and managed solutions," said Scott MacKenzie, CEO of Fidelity Clearing Canada. "Envestnet will deliver unique capabilities to wealth managers in both the broker-dealer and portfolio manager markets to provide a seamless, customer-centric experience."

"We are excited to expand our services and advanced technology capabilities within the Canadian marketplace," said Andrew Stavaridis, Executive Managing Director, Advisor Services at Envestnet. "We look forward to working with Fidelity to empower more organizations and their advisors with the tools and resources that can enable financial wellness for their clients." 

FCC chose the Envestnet platform to be part of its integrated and hosted solution based on comprehensive end-to-end capabilities and robust configurability that supports a variety of business models. "Fidelity's commitment to invest in integrated solutions and collaborate with industry leading platform providers is an integral part of our Canadian strategy to support our clients' growth and better the advisor and investor experience," said Mackenzie. 

About Fidelity Clearing Canada

Fidelity Clearing Canada (FCC) provides clearing, custody and trade execution services to Canadian registered broker/dealers and Portfolio Managers. FCC helps clients thrive by enhancing their operational efficiency and supporting the growth of their businesses, driving confidence, clarity and results. For more information, please visit www.clearing.fidelity.ca.

About Envestnet

Envestnet, Inc. (NYSE: ENV) is a leading provider of intelligent systems for wealth management and financial wellness. Envestnet's unified technology enhances advisor productivity and strengthens the wealth management process. Envestnet empowers enterprises and advisors to more fully understand their clients and deliver better outcomes. For more information, please visit www.envestnet.com and follow @ENVintel.

SOURCE Fidelity Clearing Canada