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Fidelity Private Wealth Management Review

This Fidelity Private Wealth Management review is geared towards high net worth and ultra-high net worth families that are experiencing substantial amount of complexity to manage different aspects of their lives, including their wealth, assets, lifestyle, relationships, and other activities. If you have more than $5 million in liquid investable assets, we recommend you to request a copy of our informative guide, 7 Secrets to High Net Worth Investment Management, Estate, Tax, and Financial Planning, authored particularly for individuals and families who hold worth $5 million to $500 million in investable wealth. This valuable guide by Pillar Wealth Management will introduce you to the essentials of financial planning and wealth management while explaining what you can expect from the top ultra-high net worth wealth management firms.

When you have wealth exceeding the $5 million bracket, there are just seemingly endless things to plan, manage, and organize especially if you want to build a meaningful and vibrant family enterprise that, if all goes well, perpetuates for your future generations. Fortunately, you won’t have to do this alone. Firms like Fidelity Private Wealth Management can downgrade complexity and deliver efficiency across the breadth of your assets and activities. Or you can contact some other high net worth wealth management firm that can guide you.

At Pillar Wealth Management, we’re highly skilled in developing wealth and financial plans for individuals and families who’ve liquid assets worth anywhere between $5 million and $500 million. We hold the ground as one of the most competent wealth management companies with a collective experience of over 64 years in expert fiduciary services, including wealth management, tax planning, estate planning, business succession planning, and more. Our experts use both active as well as passive management so that the best interest of every client is achieved. You can even book a no-obligation meeting with one of our team members and learn about all available options to safeguard and perpetuate your wealth. 

How much money do I need for Fidelity Wealth Management?”,What is the best wealth management firm?” – these are some of the questions that we’ll be addressing in this review along with explaining is Fidelity a wealth management firm.

Fidelity Wealth Management: Overview

“Is Fidelity a wealth management firm?” is one frequently asked question by both our readers and clients. So, we thought to end that confusion once and for all. Short answer: Yes, it is.

For a longer explanation, keep reading ahead.

Fidelity Wealth Management is a wealth and investment management firm that commercially services discretionary investment management and non-discretionary financial planning through portfolio advisory services and various wealth management programs to high net worth and ultra-high net worth clients. The firm extends services to wealthy families in order to help them manage the complexity of their lives with the ultimate aim to grow their financial wealth, and support long-term goals.

Largely popular for its mutual funds, the company offers a wide array of services, including retirement planning, life insurance services, portfolio guidance, investment management, and brokerage services.

Here are some services that you can expect to receive at a wealth management firm:

1.     Personalized Investment Management

Wealth management experts manage investment portfolios of high net worth and ultra-high net worth individuals and families with the aim to secure and build their wealth. This involves factoring their preferences and opinion related to risk, with continuous monitoring and rebalancing.

If you want to learn some effective strategies to manage your wealth, do give our $10 million guide a read.

2.     Expert & Dedicated Wealth Managers

Dedicated wealth managers are committed to providing dedicated service to clients and endeavor to learn what’s important to each client. Together, managers and clients work on financial plans designed specially to help safeguard and build wealth. If you have any queries about investing or your particular financial position, feel free to give us a call today and talk to one of our seasoned wealth managers for free.

3.     Total Wealth Management

A good wealth management firm undertakes the Total Wealth approach to avoid the disorganized outlook regarding wealth to ensure coordination among each asset class. Integrating all aspects of wealth into a client’s financial planning enables them to predict, manage, and monitor the trajectory of their total wealth. Set up a free consultation with one of our competent wealth managers to see how we can assist you!

4.     Tax-Smart Investing Strategies

If you’re worried about the impact of taxes on your wealth, Fidelity Wealth Management experts can use numerous tax-smart investing strategies to manage portfolios to help you retain more of your existing wealth. Click here to read our guide 7 Secrets to High Net Worth Investment Management, Estate, Tax, and Financial Planning to learn about some tax-smart investing strategies.

How Much Money Do I Need for Fidelity Wealth Management?

Fidelity Wealth Management firms’ vast range of account minimums makes it available for both high net worth and non-high net worth individuals alike. Apart from individual fiduciary advisors, the company also works with businesses handling employee benefits and advisors requiring technology-related services.

In addition, the account minimums for Fidelity’s asset management services differ based on program type. To qualify for Fidelity Wealth Services, clients are required to have and maintain a minimum account figure of $50,000. Similarly, clients who wish to invest in tax-sensitive program accounts or the BlackRock Diversified Income Portfolio, are mandate to have $200,000 minimum as investment.

On the other hand, the highest account minimum for the firm’s wealth management advisory program requires at least $10 million in investable assets and a minimum investment of $2 million. This program is offered through the company’s Private Wealth Management group and provides highly personalized service.

Fidelity Wealth Management Fees

For Fidelity Wealth Services, the company charges an advisory fee that entails the cost of access to financial planning services, expert advisory, continuous portfolio management, and expenses related to custody, brokerage, and clearing services. Furthermore, to offset probable conflicts of interest related to the firm earning money from the trade of certain investments, respective clients receive a credit. In these circumstances, the gross advisory fees is reduced by the credit amount (applicable to every quarter). 

For instance, if client’s total average account assets fall below $500,000 each day, they’ll pay a 1.5% gross advisory fee yearly, minus the credit amount. The maximum fee is $6,250. However, for accounts above $500,000, the fee will vary. The following fee schedule is used:

Advisory Fee Schedule for Program Accounts (Annual)

Average Daily Assets

Annual Gross Advisory Fee

First $500,000


Next $500,000


Next $1,000,000


Next $3,000,000


More than $5,000,000


Disclaimer: The actual fee paid will be the asset-based fee minus any credit amount.

What Is the Best Wealth Management Firm?

Though there are numerous reputable wealth management firms out there, it is important to understand that custom solutions to high net worth and ultra-high net worth investors is what matters. It’s about personalization and knowing yours and your family’s financial needs vs. being just another addition to a client list; as it’s usually the case with the big Wall Street firms. It is also about what high net worth and ultra-high net worth investors like you should demand, expect, and deserve from the best wealth management firms.

In addition to this, it is equally important to note that each wealth management company, including Fidelity, is different in its services and offerings. Consequently, the answer to “What Is the Best Wealth Management Firm” is a very personal one. However, the best wealth management firms work closely with all their clients to identify their unique financial goals and develop comprehensive plans to accomplish them accordingly. The decisions largely rely on selecting solid investments that’ll grow over time.

At Pillar Wealth Management, we offer services of qualified wealth managers, who have years of experience in managing high-profile portfolios of ultra-high-net-worth individuals. They’ll share key insights with you to help you understand what wealth management entails and how you can profit from it the most.  Get in touch with our team today for a free one-on-one consultation.

Remember, signing on with a wealth management firm will be one of the most crucial financial decisions you will ever make. Therefore, it should be handled with a meticulous attention to detail. After all, you will be spending hefty fees to them for their level of treatment. So, just like other financial decisions, there are a several factors to consider and important questions to ask if you are ready to build serious wealth.

Below are some good guidelines to follow when choosing a wealth management firm to invest your money with:

●      Compare Offered Services

It’s important to be fully aware of the kinds of financial services and products different wealth management firms provide to clients. For instance, some wealth management companies specialize in particular investment types or strategies while some do not. Therefore, pay close attention to the firm’s overall investment strategy to make sure it aligns with your financial objectives.

●      Compare Reviews & Past Records

Wealth management firm generally hold assets worth millions and even billions of dollars under management, but that alone isn’t an indicator of how well they serve their clients. That’s why we recommend you to consider their past history before signing the deal. See whether the firm has received any awards or special recognition for its services or if there are any positive reviews on platforms like Better Business Bureau. The more you research, the more confident you’ll feel in signing up with a firm.

●      Compare Investment Approaches

A wealth management firms investment approach is another important area to scrutinize. Some essential elements to consider are: Does the company use individual securities or mutual funds? What are its investment offerings? Is the investment approach tailored for each client or a cookie-cutter approach is used? Does it only offer internal investment opportunities or access to external managers is available? The answer to such questions can help you determine whether a firm provides sufficient range of investment opportunities or not.

Fidelity Private Wealth Management Review: Conclusion

Identifying and choosing the best wealth management firm is a task that demands an exorbitant amount of effort and time. It certainly is not something you can do without performing sufficient research, and that’s where we can help.

At Pillar Wealth Management, we provide fiduciary wealth management services to prioritize your needs and ensure you achieve your wealth and financial goals. Our wealth management experts can provide you the security and peace that comes with knowing you’ve planned appropriately for the future of your family. Pillar Wealth Management high net worth and ultra-high net worth financial planners will protect your long- and short-term financial interests. Under the guidance of our co-founders, Hutch Ashoo and Chris Snyder, who collectively have 64+ years of experience, dating back to 1988, we’ve assisted countless high net worth individuals and their families to maximize the overall value of their wealth.

We offer professional, qualified wealth planning services, such as wealth management, tax planning, estate planning, business succession planning, and more. However, we specialize in services for investors from $5 million to $500 million. The priority of our wealth managers is to deliver a reliable, personal, and reassuring experience to leave clients safe in the knowledge that their hard-earned wealth is in the right hands.