It would seem like more and more financial advisors are embracing the robo tech craze to expand their services. Boston-based Fidelity Investment, which has a strong presence in Canada, joined the robo-advice platform bandwagon and rolled out its own for the benefit of its advisors.
Developed in tandem with eMoney Advisor, the Automated Managed Platform (AMP) is now accessible to Fidelity's advisors affiliated with its Clearing and Custody Solutions. AMP is accessible via Fidelity's new advisor technology platform Wealthscape.
In a statement, Fidelity said the launch of the robo-advice platform came amidst the growing interest of firms in digital space. Citing an in-house research, the group revealed that the number of advisors from firms which are actively exploring the digital advice area has grown by as much as 80% in just a year. 40% of such are already considering the digital advice options available.
Fidelity Institutional senior vice president for investment products Gary Gallagher said the evolving digital advice market shows advisors' hunger for a modern and intuitive front-end that can be leveraged to meet investor demands.
"We have seen a strong early response from clients, indicating our approach is resonating with advisors," Gallagher said.
Meanwhile, eMoney Advisor CEO Ed O'Brien said there are already a number of clients who pledged to implement AMP, with a strong line of banks, broker-dealers, and RIAs stating their commitments to the offering.
"Advisors need solutions that simplify their everyday lives and appeal to a growing market of investors looking for digital options. Fidelity AMP delivers on both of these areas, enabling more investors to benefit from a streamlined, planning-led process," O'Brien said.
Looking ahead, the group is planning to launch additional features and enhancements, including more options for customized investment. This enables advisors to further tailor-fit the experience they create for their investors.
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