Fidelity Investments® Expands Institutional Separately Managed Account (SMA) Lineup for Wealth Management Firms

New custom SMA strategies leverage investment capabilities of Fidelity’s enhanced and fundamental lineups while offering personalization and tax management

New model SMAs provide scalable options for wealth managers to deliver investment solutions

BOSTON--(BUSINESS WIRE)--Fidelity Investments^® today announced the expansion of its institutional separately managed account (SMA) lineup with six new custom strategies and two new model offerings for registered investment advisor (RIA) and broker dealer clients that leverage Fidelity’s active management and quantitative research capabilities.

Fidelity Institutional Tax-Managed Enhanced Equity and Fidelity Institutional Tax-Managed Fundamental Equity custom SMAs each feature large-cap core, growth, and value strategies, combining the firm’s decades of active management expertise with the high level of personalization and specialized service experience of a custom SMA. The enhanced equity strategies are benchmark-aware strategies leveraging a diverse set of alpha insights, while the fundamental equity strategies use a systematic portfolio construction process and high-conviction stock selection.

These strategies are currently available to RIAs via Fidelity’s custom SMA platform, which is integrated with Fidelity’s Wealthscape^℠ brokerage platform and designed for firms to easily onboard, customize, implement, and monitor their clients’ custom SMA strategies.

“Demand for a personalized investing experience continues to grow, particularly among ultra-high-net-worth investors, a population that has grown by more than 40% in the past decade.ⁱ We’ve consistently expanded the range of investment capabilities available to advisors serving those who are looking for a more bespoke experience,” says Amanda Robinson, head of Wealth Advisory Managed Solutions Distribution at Fidelity Investments. “Fidelity’s mix of active, direct index, and factor-based SMA strategies offer deep portfolio customization and apply tax management techniques through our proven digital experience, enabling advisors to deliver high-touch service.”

Since its 2022 launch, the Fidelity Institutional Custom SMA lineup has grown to 50 off-the-shelf strategiesⁱⁱ, in addition to custom blends that allow advisors to combine multiple indices or strategies as the target allocation.

The firm also introduced new equity model SMAs for RIAs and broker dealers that can integrate seamlessly into unified managed accounts (UMAs) to support a more holistic and tax-efficient approach to portfolio management. The Fidelity Institutional Blue Chip Growth Focused Model SMA and Fidelity Institutional Small Growth Focused Model SMA expand advisors’ access to Fidelity’s active management expertise across high-demand strategies, while preserving the personalization benefits and tax management capabilities enabled through managed account platform overlays. Fidelity currently offers eight active equity model-delivered SMAs across domestic equity, sector, and international equity strategies, along with five factor and two index model SMAs available via Fidelity Managed Account Xchange^® (FMAX) and select third-party platforms.

Fidelity Institutional SMA strategies are developed with insights from the Quantitative Research and Investments team, an integrated division of more than 250 quants, data-scientists, and technologists within Fidelity Asset Management. This team leverages decades of proprietary and alternative data, advanced systematic approaches, and expert human insight to help uncover opportunity for clients.

Visit https://i.fidelity.com/SMA for more information.

About Fidelity Investments

Fidelity’s goal is to strengthen the financial well-being of our customers and deliver better outcomes for the clients and businesses we serve. Fidelity’s strength comes from the scale of our diversified, market-leading financial services businesses that serve individuals, families, employers, wealth management firms, and institutions. With assets under administration of $17.9 trillion, including managed assets of $7.0 trillion as of March 31, 2026, we focus on meeting the unique needs of a broad and growing customer base. Privately held for 80 years, Fidelity employs more than 80,000 associates across North America, Europe, and Asia-Pacific. For more information about Fidelity Investments, visit https://www.fidelity.com/about-fidelity/our-company.

Please read this information carefully.
Speak with your Fidelity representative if you have any questions.

This document does not make an offer or solicitation to buy or sell any securities or services and is not investment advice. Fidelity does not provide legal or tax advice, and we encourage you to consult your own lawyer, accountant, or other advisor before making an investment.

Information provided in this document is for informational and educational purposes only. To the extent any investment information in this material is deemed to be a recommendation, it is not meant to be impartial investment advice or advice in a fiduciary capacity and is not intended to be used as a primary basis for your investment decisions. Fidelity and its representatives may have a conflict of interest in the products or services mentioned in this material because they have a financial interest in them, and receive compensation, directly or indirectly, in connection with the management, distribution, and/or servicing of these products or services, including Fidelity funds, certain third-party funds and products, and certain investment services.

Risks
Past performance is no guarantee of future results. An investment may be risky and may not be suitable for a client's goals, objectives, and risk tolerance. An investment's value may be volatile, and any investment involves the risk that you may lose money.

The value of a strategy's investments will vary in response to many factors, including adverse issuer, political, regulatory, market, or economic developments. The value of an individual security or a particular type of security can be more volatile than and perform differently from the market as a whole. Nearly all accounts are subject to volatility in non-U.S. markets, either through direct exposure or indirect effects on U.S. markets from events abroad, including fluctuations in foreign currency exchange rates and, in the case of less developed markets, currency illiquidity. Events such as natural disasters, pandemics, epidemics, and social unrest in one country, region, or financial market may adversely impact issuers in a different country, region or financial market. Performance could be negatively impacted if the value of a portfolio holding were harmed by such political or economic conditions or events. Moreover, such negative political and economic conditions and events could disrupt the processes necessary for investment operations.

The Fidelity Institutional Tax Managed custom SMAs invest generally in equity securities and are managed using investing techniques that seek to enhance after-tax returns, including, without limitation, harvesting tax losses and the potential deferral of capital gains while also seeking to reduce tracking error to the benchmark whenever possible after taking into consideration the tax consequences. These techniques may be applied on a limited basis, at the discretion of the portfolio manager, and primarily with respect to determining when assets in a client's account should be bought or sold. These techniques consider U.S. federal income taxes only and do not take into account a client’s broader tax situation. Assets in an account may be sold for a taxable gain or loss at any time. There are no guarantees as to the overall effectiveness of these techniques or the tax results of any transaction.

Fidelity Brokerage Services LLC (“FBS”), an affiliate of FIWA, is a registered broker-dealer. FBS distributes Fidelity Institutional Custom SMAs as a paid solicitor.

Fidelity Institutional Wealth Adviser LLC^® (“FIWA”) is a registered investment adviser and an indirect, wholly owned subsidiary of FMR LLC. FIWA provides customized separately managed account portfolios to clients which are generally individuals and entities representing such individuals, including other registered investment advisers and other institutional accounts (i.e., endowments, foundations). FIWA has retained the services of its affiliate, Fidelity Management & Research Company LLC (“FMR”), to manage these accounts, subject to FIWA’s supervision and oversight.

FIWA is the sponsor of the Fidelity Managed Account Xchange^® (FMAX) program. FMAX is a comprehensive wealth management platform consisting of advisory tools, programs and services, and investment products from Fidelity and other affiliated and unaffiliated 3^rd parties. FMAX offers dedicated Fidelity service & support and a simplified client experience, provides investment advisory and platform services, and is offered by FIWA, an affiliate of Fidelity Brokerage Services LLC and National Financial Services LLC. FMAX provides investment advisory and platform services for a fee. FMAX is not a brokerage product.

The Fidelity Institutional Model SMAs (“Model SMAs”) are made available to financial intermediaries on a non-discretionary basis by Fidelity Institutional Wealth Adviser LLC (FIWA), a registered investment adviser, including intermediaries referred to FIWA by its affiliate Fidelity Distributors Company LLC (FDC), a registered broker-dealer that is compensated by FIWA for such services. Financial intermediaries compensate FIWA for utilizing the Model SMAs.

Fidelity Institutional^® (FI) provides investment products through Fidelity Distributors Company LLC; clearing, custody, or other brokerage services through National Financial Services LLC or Fidelity Brokerage Services LLC, Members NYSE, SIPC; and institutional advisory services through Fidelity Institutional Wealth Adviser LLC.

Third parties referenced herein are independent companies and are not affiliated with Fidelity Investments. Listing them does not suggest a recommendation or endorsement by Fidelity Investments.

Fidelity Brokerage Services LLC, Member NYSE, SIPC
900 Salem Street, Smithfield, RI 02917

Fidelity Distributors Company LLC
900 Salem Street, Smithfield, RI 02917

National Financial Services LLC, Member NYSE, SIPC
245 Summer Street, Boston, MA 02110

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ⁱ Fidelity Investments, Ultra-wealth management: What it takes to find success in the ultra-high-net-worth market
ⁱⁱ As of June 30, 2026