Fidelity Services for High Net Worth

Fidelity services for high net worth individuals generally include discretionary investment management and non-discretionary financial planning through portfolio advisory services and wealth management programs. These services are particularly geared towards high net worth and ultra-high net worth individuals who encounter significant complexities while managing different aspects of their lives, including their wealth, assets, lifestyle, relationships, insurance, and health care.

STRATEGIES FOR FAMILIES WORTH $5 MILLION TO $500 MILLION

 

7 Secrets To High Net Worth Investment Management, Estate, Tax and Financial Planning

 

The insights you’ll discover from our published book will help you integrate a variety of wealth management tools with financial planning, providing guidance for your future security alongside complex financial strategies, so your human and financial capital will both flourish.

Clients frequently share with us how the knowledge gained from this book helped provide them tremendous clarity, shattering industry-pitched ideologies, while offering insight and direction in making such important financial decisions.

It is true that wealth management is important for everyone but more so for high net worth and ultra-high net worth individuals and families. Complexities related to wealth increase once the $1 million mark is crossed since numerous states in the United States levy estate and/or inheritance taxes on wealth. Moreover, when you have wealth exceeding $5 million, there will be endless things to plan, manage, and organize, especially if you want to build and perpetuate all that money for future generations.

But thanks to companies like Fidelity Wealth Management and Pillar Wealth Management, you won’t have to navigate this journey alone. With an array of Fidelity services for high net worth, we can efficiently downgrade the intricacies of wealth and ensure your assets are safeguarded throughout your lifetime and even thereafter.

How much does Fidelity Wealth Management cost?” and “What is Fidelity’s net worth?” — these are some of the questions that we’ll be addressing in this post along with explaining how much you should save for retirement by a certain age.

If you have more than $5 million in liquid investable assets, 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.

Here’s what we’ll cover:

Fidelity Wealth Management: Overview

Fidelity Services for High Net Worth

1. Personalized Investment Management

2. Expert & Dedicated Wealth Managers

3. Total Wealth Management

4. Tax-Smart Investing Strategies

5. Holistic Planning

How Much Does Fidelity Wealth Management Cost?

Fidelity Service Cost Schedule

What Is Fidelity’s Net Worth?

How Much Should I Save For Retirement?

Fidelity Services for High Net Worth: Conclusion

Fidelity Wealth Management: Overview

Fidelity Wealth Management is a wealth and investment management firm that extends services to wealthy individuals and families to help them manage the complexity of their lives, particularly to grow their wealth, manage and support their long-term goals, and seamlessly coordinate all financial endeavors.

Fidelity services for high net worth are generally a combination of tax, investment, legal, governance, and concierge-related activities, which can be tailored to fulfill the needs of high net worth and ultra-high net worth individuals and their families. Owing to an array of their services, the web of independent wealth advisors, processes, and teams that high earners need to manage their assets and activities can be reduced. Remember, when it comes to wealth management, there’s no one-size-fits-all; every client needs a customized team, services, and scale to best fulfill their needs.

At Pillar Wealth Management, we’re highly skilled at developing wealth and financial plans for individuals and families who have 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, and business succession planning. Our experts use both active and passive management so that the best interests of every client are respected. You can even book a no-obligation meeting with one of our team members and learn about the available options for safeguarding and perpetuating your wealth. 

Fidelity Services for High Net Worth

Here are some of Fidelity’s most popular services for high net worth individuals and families:

1.     Personalized Investment Management

Fidelity manages investment portfolios with the aim to secure and build the wealth of high net worth and ultra-high net worth individuals and families, taking into account their preferences and opinions related to risk, with continuous monitoring and rebalancing.

If you wish to learn about some lucrative portfolio strategies to manage your wealth, be sure to check our in-depth guide, Improving Portfolio Performance.

2.     Expert & Dedicated Wealth Managers

The firm is committed to providing a dedicated service to clients while striving to understand what each client wants and plan strategies for the future accordingly. Together, managers and clients work on financial plans designed specially to help safeguard and build wealth.

3.     Total Wealth Management

Fidelity uses a total-wealth approach to avoid a fragmented outlook regarding wealth and makes sure coordination among each asset class is present. Integrating all aspects of wealth into a client’s financial planning enables wealth managers to predict, manage, and monitor the trajectory of their total wealth.

4.     Tax-Smart Investing Strategies

If you’re worried about the impact of taxes on your wealth, Fidelity Wealth Management’s experts can use numerous tax-smart investing strategies to manage your portfolio to help you retain more of your existing wealth.

5.     Holistic Planning

The right wealth manager can help you develop a tailored plan that’s based on your complete financial footprint, covering areas such as estate planning, retirement, taxes, health care, and travel.

Other services offered by Fidelity Wealth Management include:

  • Small business retirement plans
  • Retirement products
  • IRAs
  • Mutual fund management
  • Retirement planning
  • 529 plans
  • Robo-advisory program
  • Life insurance and long-term care
  • Charitable giving
  • Annuities
  • Investment management
  • Portfolio guidance

How Much Does Fidelity Wealth Management Cost?

Fidelity Wealth Management’s vast range of account minimums makes it available for both high net worth and non-high net worth individuals alike. To answer “how much does Fidelity Wealth Management cost?” it is important to first understand that the fees charged for Fidelity’s asset management services differ based on program type. Text Box: Summary 

The minimum amount for Fidelity’s advisory services start at $50,000, making them readily accessible to lower-level investors.
The company also offers digital, discretionary investment management services with no minimum requirement, and personalized and planning advice for a $25,000 minimum.
For private wealth management services, it requires clients to invest at least $2 million or above in investable assets.

For example, to be eligible for Fidelity Wealth Services, clients are required to have and maintain a minimum account of $50,000. Similarly, clients wanting to invest in tax-sensitive program accounts or the BlackRock Diversified Income Portfolio, are required to have a $200,000 minimum as an 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 Service Cost Schedule

For Fidelity Wealth Services, the company charges an advisory fee that comprises the cost of access to financial planning services, expert advisory, and continuous portfolio management and the 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, the respective clients receive a credit. In these circumstances, the gross advisory fees are reduced by the credit amount (applicable to every quarter). 

For instance, if the 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 AssetsAnnual Gross Advisory Fee
First $500,0001.25%
Next $500,0001.1%
Next $1,000,0000.9%
Next $3,000,0000.7%
More than $5,000,0000.5%

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

What Is Fidelity’s Net Worth? 

Established in 1946 with headquarter in Boston, Massachusetts, Fidelity is one of the largest asset management companies in the world, with about $4.5 trillion in assets under management (as of December 2021). The firm’s total assets under administration have accumulated to $11.8 trillion. Fidelity manages a large family of mutual funds, operates a brokerage firm, provides investment advice and fund distribution, wealth management, retirement services, index funds, life insurance, asset custody, cryptocurrency, and securities execution and clearance.

Total Customer Accounts75 million+
Total Investors32 million+
Employee Benefits Programs22,000+
Financial Advisory Firms13,500+

How Much Should I Save For Retirement?

Everybody’s road to retirement is as personal and unique as their DNA, with twists and turns that are distinctive to their special circumstances. Yet the majority of people grapple with the same questions, typically starting with “How much should I save for retirement?” and “How much money do I need to retire?”

It’s imperative to clarify that nobody knows the exact answers to these questions since no one knows what life or markets will have to offer in the future. Nevertheless, it is crucial to know where you stand in order to make wise choices as retirement nears.

That’s why Fidelity performed a comprehensive analysis to devise an age-based retirement saving guideline that can help you plan for the future despite the myriad uncertainties of life. These milestones can be a stretch for many, and not everyone will be able to meet all of them. Yet, these guidelines can serve as goals to help you plan and save enough to sustain your lifestyle in retirement.

Fidelity’s saving factors assume that a person saves 15 percent of their annual income starting at age 25, invests on average over 50 percent of their savings in shares over their lifetime, retires at age 67, and maintains their lifestyle in retirement.

Based on this, the company estimates that saving ten times your pre-retirement income by age 67, paired with other incentives, should help warrant that you have sufficient income to preserve your existing lifestyle once you retire.

To help investors stay on track, the firm recommends the following age-based targets:

fidelity services for high net worth

Source: Fidelity

Alt Image: How much should I save for retirement by age?

Investors are advised to save at least 1x their income by age 30, 2x by 35, 3x by 40, 4x by 45, and so on.

It’s important to note that each investor’s savings objective may differ based on various factors, including retirement lifestyle and expected age of retirement. But this outline can offer a starting point for building your retirement fund.

Fidelity Services for High Net Worth: Conclusion

Largely popular for its mutual funds, Fidelity Wealth Management provides a vast range of services, including life insurance services, retirement planning, brokerage services, portfolio guidance, and investment management. But we also understand that identifying and choosing the best wealth management firm is not an easy feat. Moreover, it’s not something you can do without performing sufficient research. That’s where we can help.

At Pillar Wealth Management, we provide fiduciary wealth management services that prioritize your needs and ensure you achieve your wealth and financial goals. Our wealth management experts can provide you with financial security and the peace of mind that comes from knowing you’ve planned appropriately for the future. Pillar Wealth Management’s 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, and business succession planning. 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.

Set up a free consultation with one of our competent wealth managers to see how we can assist you!

Authors

To be 100% transparent, we published this page to help filter through the mass influx of prospects, who come to us through our website and referrals, to gain only a handful of the right types of new clients who wish to engage us.

We enjoy working with high net worth and ultra-high net worth investors and families who want what we call financial serenity – the feeling that comes when you know your finances and the lifestyle you desire have been secured for life, and that you don’t have to do any of the work to manage and maintain it because you hired a trusted advisor to take care of everything.

You see, our goal is to only accept 17 new clients this year. Clients who have from $5 million to $500 million in liquid investable assets to entrust us with on a 100% fee basis. No commissions and no products for sale.

More from authors.

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