A news release announcing the alliance said it is the first of its kind for Fidelity’s annuity and insurance business and represents its entry into the turnkey asset management channel.
The announcement said FundQuest has integrated FPRA into its asset allocation modeling capabilities for fee-based advisers. Fidelity will provide annuity-related sales support and access to Fidelity’s insurance-licensed sales representatives.
FPRA has been integrated into FundQuest’s Wealth Architect offering. Advisory firms employ Wealth Architect to deliver fee-based mutual fund models, unified managed accounts (UMAs), income portfolios, ActivePassive Portfolios, and Advisor Choice portfolios, according to the announcement.
“We believe FPRA will provide advisers with an investment option for managing complex retirement and tax-planning strategies for their clients’ portfolios,” said Andrew Stavaridis, vice president, National Accounts, at FundQuest, in the news release. “FPRA can also help advisers make their management of portfolios more tax efficient.”
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