Fidelity Institutional Centralizes Services to Advisers

Fidelity Investments has created a Client Experience organization within its institutional division in order to meet the “evolving demands” of independent advisers, broker/dealers, traders, and family offices.
The unit will be headed by Maggie Serravalli, reporting to Gerard J. McGraw, president of Fidelity Institutional. Most recently, Serravalli served as executive vice president, Client Experience, for Fidelity’s Operations and Services Group. In her new role she will continue to be responsible for the client management and client service teams of Fidelity’s brokerage business.

Fidelity said the Client Experience organization will work across each of Fidelity’s institutional businesses—Fidelity Institutional Wealth Services, National Financial, Fidelity Family Office Services, and Fidelity Capital Markets—to develop and implement service strategies to support institutional clients. The organization will help clients from the initial sales process to day-to-day service interactions and ongoing relationship management, the firm said.

The first step is to roll out new service teams for independent adviser clients of Fidelity Institutional Wealth Services. The teams comprise a client service manager and professionals focusing on key areas, including transfer of assets, new accounts, and money movement.

Fidelity said the new organization will make it easier for Fidelity clients to conduct business in multiple channels, from fee-based registered investment advisers (RIAs) to hybrid broker/dealers. After an initial pilot period, Fidelity said it is rolling out the model to its RIA clients throughout 2010.