Fidelity Offers New UMA for High-Net-Worth Investors

Fidelity's newest unified managed account (UMA) offering, Personalized Portfolios, provides daily risk management and tax-sensitive investing previously reserved for institutional investors.  

The account minimum for creating a Fidelity Personalized Portfolio is $200,000, according to a news release from Fidelity.  Fidelity is marketing this style of UMA to affluent investors who are looking for “a single diversified portfolio that can be personalized to meet their individual needs while at the same time optimizing risk management and after-tax returns.” The UMA will be personalized based on the client’s goals, risk tolerance, and personal situation.

Fidelity Personalized Portfolios was developed with Strategic Advisers, Inc., a registered investment adviser (RIA) and wholly owned subsidiary of FMR LLC, the holding company for the businesses of Fidelity Investments.  According to the release, investments are selected for a client’s Personalized Portfolio based on primary research conducted by Strategic Advisers, which tracks more than 2,000 funds and hundreds of third-party investment managers.