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.
About Fidelity Investments Canada
ULC
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