Fidelity Wealth to provide choice and support for financial advisors looking to retire with confidence

Over 16,000 financial advisors expected to retire in the next decade 

TORONTO, June 20, 2024 /CNW/ – Fidelity Investments Canada ULC (Fidelity) today announced it will launch Fidelity Wealth ULC (Fidelity Wealth), a new wealth management business designed to support financial advisors with their succession planning and transition to retirement.

“Financial advisors are an essential part of the Canadian economy, adding value to millions of Canadians by helping them save and invest successfully towards, and throughout, their retirement,” said Eugene Boakye, Managing Director of Fidelity Wealth. “Just as advisors have supported Canadian families with their retirement dreams, with Fidelity Wealth, our mission is to help financial advisors achieve their retirement with confidence, knowing that their clients will continue to be offered professional financial advice and leading investment management solutions.” 

According to Fidelity research, more than 16,000 financial advisors are expected to retire in the next decade, with close to 4 in 10 who are 55 years or older. Given this demographic trend, there is a growing demand for a succession partner that advisors can trust to take care of their clients as they transition into the next stage of their lives.

Fidelity Wealth will offer financial advisors and their clients choice and access to a suite of investment and wealth management services, backed by Fidelity’s global resources. Fidelity Wealth’s team of experienced wealth professionals will offer financial advisors and their clients a seamless transition experience and personalized plans, aiming to deliver excellent customer service and investment management at every step in their journey. 

“As many financial advisors approach retirement, their priority remains the long-term wellbeing of their clients. In response to requests from retiring advisors who have asked for Fidelity to serve as their trusted succession partner, Fidelity Wealth will seek to offer the very best to their clients, leveraging Fidelity’s global strength and scale,” says Boakye. “We are committed to carrying on the positive legacy of financial advisors and their hard work in taking care of their clients.”

For nearly four decades of operating in Canada, Fidelity has supported the financial advisor community by listening to them and bringing innovations to help them do what they do best – adding value to their clients. 

In the last five years, Fidelity has delivered over 1.4 million continuing education credits through daily FidelityConnects webcasts and events, expanded its mutual fund, ETF and alternative strategies line up with 154 investment strategies rated 4- and 5-star by Morningstar, and launched Portfolio Solutions teams, Tax-Smart Solutions and much more.

Voted #1 Provider in the Advisor Digital Experience Survey by Environics, Fidelity’s latest offering represents the next evolution of its commitment to the financial advisor community, enabling financial advisors to approach the next stage of their lives with Fidelity by their side.

For financial advisors interested in learning more about the new offering, please visit fidelity.ca/wealth. 

At Fidelity Investments Canada, our mission is to build a better future for our clients. Our diversified business serves financial advisors, wealth management firms, employers, institutions and individuals. As the marketplace evolves, we are constantly innovating and offering our clients choice of investment and wealth management products, services and technological solutions all backed by the global strength and scale of Fidelity. With assets under management of $247 billion (as at June 11, 2024), Fidelity Investments Canada is privately held and committed helping our diverse clients meet their unique goals over the long term. 

Source: Morningstar. Calculation: Fidelity Investments Canada ULC. Based on performance for ETFs and Series F mutual funds. For mutual funds, the number of rated funds is based on Series F mutual funds in trust, and if available, Corporate Class versions. For performance information, please visit fidelity.ca. Morningstar ratings reflect performance as April 30, 2024, and are subject to change monthly. The Morningstar Risk Adjusted (MRARs), commonly referred to as the Star Rating, relate the risk-adjusted performance of a fund to its peers with the same CIFSC Fund category for the period ended as noted and are subject to change monthly. Morningstar calculates ratings for categories with at least 5 funds. To determine a fund’s rating, the fund and its peer are ranked by their MRARs. If a fund scores in the top 10% of its category, it receives five stars (High); if it falls in the next 22.5%, it receives four stars (Above Average); the next 35% earns a fund three stars (Neutral or Average); those in the next 22.5% received two stars (Below Average); and the lowest 10% received one star (Low). The overall rating is a weighted combination of the 3, 5 and 10 year ratings. For greater detail see www.morningstar.ca. Series F is available only to investors who are eligible to buy this series. If you buy other series of Fidelity funds, the performance will vary largely due to different fees and expenses. Investors who buy Series F pay investment management fees and expenses to Fidelity. Investors will also pay their dealer a fee for financial advice services in addition to the Series F fees charged by Fidelity.

Commissions, trailing commissions, management fees, brokerage fees and expenses may be associated with investments in mutual funds, asset allocation services and ETFs. Please read the mutual fund or ETF’s prospectus, which contains detailed investment information, before investing. Mutual funds and ETFs are not guaranteed. Their values change frequently. Past performance may not be repeated.

Find us on social media @FidelityCanada

www.fidelity.ca
Listen to FidelityConnects on Apple or Spotify

SOURCE Fidelity Investments Canada ULC