Fidelity Reports Success, Enhancements of HybridOne

Fidelity Investments introduced single sign-on and referral program features to its HybridOne offering for dually registered advisers.

Fidelity said advisers are now able to sign on to their workstations just once to view both their commission- and fee-based account activity across the two brokerage platforms, according to a release. The firm said single sign-on delivers tighter integration between National Financial’s broker and adviser workstation, Streetscape, and Fidelity’s RIA workstation, AdvisorCHANNEL—scheduled to be replaced by Fidelity WealthCentral next year (see “Fidelity Investments Launches WealthCentral’).

Other enhancements include the HybridOne B/D Connect Program, which can refer advisers to a network of broker/dealer client firms on National Financial’s platform that are willing to accept commission assets from RIAs. Fidelity and National Financial also launched the HybridOne RIA Connect Program, which compensates broker/dealer client firms that successfully refer fee business to Fidelity.

HybridOne, launched in June (see “Fidelity’s HybridOne Manages Both Commission and Fee Business’), is an offering designed to help firms and advisers manage their commission- and fee-based business. Since the offering launched, Fidelity said it has attracted 104 hybrid clients with $13 billion in assets. Those firms selecting HybridOne include The Leaders Group, Medallion Advisory Services, LLC, Monarch Capital, Mutual Securities, Spire Investment Partners, and Strategic Wealth Partners.

According to National Financial research, the hybrid market is one of the fastest growing segments of financial advisers in the U.S., with the majority of all brokers and advisers managing some combination of commission and fee business, according to the release. Fidelity said the interest among firms and advisers in the hybrid model is growing rapidly, especially as the trend of brokers considering going independent accelerates (see “Competition for Advisers Heats Up’).

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