Fidelity to Offer Adviser Clients Access to IPOs Through Deutsche Bank

Fidelity Investments’ registered investment adviser (RIA) and brokerage clients will now have access to the initial public offerings (IPOs) and follow-on equity offerings underwritten by Deutsche Bank Securities Inc.

The relationship expands Deutsche Bank’s potential investor base to include Fidelity’s list of retail brokerage customers as well as customer accounts managed by Fidelity’s RIA, correspondent broker/dealer, and other institutional clients, according to an announcement from the companies. Fidelity’s distribution platform adds to Deutsche Bank’s current distribution capabilities to high-net-worth clients via its Private Bank and Private Client Services divisions.

Mark Haggerty, president of Fidelity Capital Markets, the institutional trading division of Fidelity Investments, said the new relationship “will help us offer our customers additional investment opportunities, typically reserved for larger institutional investors.”

Last month Fidelity announced that RIA and broker/dealer clients and other institutional clients would be able to invest in IPOs underwritten by Kohlberg Kravis Roberts & Co. (KKR) (see “Fidelity, KKR to Offer IPOs to Institutional Clients”). The new relationship with Deutsche Bank will build on the KKR offering, Fidelity said.

“With our new Deutsche Bank alliance and our KKR relationship, Fidelity is well-positioned to offer our customers the ability to participate in new issue equity deals as the IPO market begins to show signs of increased activity,” Haggerty said.