September 08, 2026

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Understanding separately managed accounts (SMAs)

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Understanding separately managed accounts (SMAs)

Find out how SMAs can offer a more personalized way to invest.

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Fidelity Viewpoints^®

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Decode Crypto Clarity on crypto every month. Build your knowledge with education for all levels.

Fidelity Smart Money^℠

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Active Investor Our most advanced investment insights, strategies, and tools.

Insights from Fidelity Wealth Management ^®

Timely news, events, and wealth strategies from top Fidelity thought leaders.

Women Talk Money Real talk and helpful tips about money, investing, and careers.

Educational Webinars and Events Free financial education from Fidelity and other leading industry professionals.

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Investing for beginners
Finding stock and sector ideas
Managing taxes
Investing for income
Fixed income, bonds, CDs
Mutual funds
Stocks
Using technical analysis

Tax-smart (i.e., tax-sensitive) investing techniques, including tax-loss harvesting, are applied in managing certain taxable accounts on a limited basis, at the discretion of the portfolio manager, primarily with respect to determining when assets in a client's account should be bought or sold. Assets contributed may be sold for a taxable gain or loss at any time. There are no guarantees as to the effectiveness of the tax-smart investing techniques applied in serving to reduce or minimize a client's overall tax liabilities, or as to the tax results that may be generated by a given transaction.

Keep in mind that investing involves risk. The value of your investment will fluctuate over time, and you may gain or lose money.

"Fidelity Managed Accounts" and "Fidelity managed accounts" refer to the advisory services provided for a fee through Strategic Advisers LLC (Strategic Advisers), a registered investment adviser. Brokerage services are provided by Fidelity Brokerage Services LLC (FBS), and custodial and related services are provided by National Financial Services LLC (NFS), each a member of NYSE and SIPC. Strategic Advisers, FBS, and NFS are Fidelity Investments companies.

Fidelity Brokerage Services LLC, Member NYSE, SIPC, 900 Salem Street, Smithfield, RI 02917

1275454.1.0

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Fidelity Viewpoints^®

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Insights from Fidelity Wealth Management ^®