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Your Investment Team: Strategic Advisers, Inc. and Breckinridge Capital Advisors, Inc.

When you open a managed account, the investment decisions for your account will be handled by Breckinridge Capital Advisors, Inc., with oversight and monitoring by Strategic Advisers, Inc., both registered investment advisers.

About Strategic Advisers, a Fidelity Investments company

  • More than 150 investment professionals1
  • More than $149 billion in assets managed for over 461,000 accounts1
  • More than 25 years of experience in discretionary money management

Meet the people at Strategic Advisers.

About Breckinridge

  • More than 24 investment professionals2
  • More than $20 billion in assets managed for over 9,800 accounts2
  • More than 20 years of experience investing municipal bond separately managed accounts

Meet the people at Breckinridge.

How we construct and manage your portfolio

Portfolio construction and management for the Breckinridge Intermediate Municipal SMA focuses on constructing portfolios primarily with intermediate term, investment grade municipal bonds.3

Here's what we can do for you:

  • Invest your assets – Portfolio managers, traders, and analysts will choose from thousands of municipal bonds and determine the appropriate investments for your portfolio.
  • Maintain a diversified portfolio – Portfolio managers will diversify your municipal bonds across various issuers, sectors, and maturities seeking to limit the risk in your portfolio.4
  • Provide active management – Portfolio managers will evaluate market conditions and determine if there are trading opportunities for your portfolio.
  • Provide ongoing credit research and monitoring – Fundamental bottom-up credit analysis is conducted on each bond held in your portfolio and credit quality is monitored on an ongoing basis.
  • Conduct an annual review – We'll conduct a comprehensive annual review to help ensure your account is still aligned with your financial situation and goals.

Ready to get started?

Tell us your financial goals and we'll send you a complimentary investment proposal.

1. Source: Portfolio Advisory Services Daily Sales Report as of December 31, 2013
2. Source: Breckinridge Capital Advisors, Inc., as of December 31, 2014
3. Investment grade municipal bonds are bonds rated BBB/Baa or higher by S&P and/or Moody's respectively. Such ratings indicate that a municipal or corporate bond has a relatively low risk of default.
4. All investment strategies, including the investment strategy of the Service, involve the risk of loss of a portion of or all assets. In general, the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk, liquidity risk, call risk, and credit and default risks for both issuers and counterparties. The municipal market can be affected by adverse tax, legislative or political changes and the financial condition of the issuers of municipal securities. Interest income generated by municipal bonds is generally expected to be exempt from federal income taxes and, if the bonds are held by an investor resident in the state of issuance, state and local income taxes. Such interest income may be subject to federal and/or state alternative minimum taxes. Investing in municipal bonds for the purpose of generating tax-exempt income may not be appropriate for investors in all tax brackets. Generally, tax-exempt municipal securities are not appropriate holdings for tax advantaged accounts such as IRAs and 401(k)s.
Keep in mind, investing involves risk. The value of your investment will fluctuate over time, and you may gain or lose money.

Diversification/Asset Allocation does not ensure a profit or guarantee against loss.

Strategic Advisers, Inc., and Breckinridge Capital Advisors, Inc., are independent entities and are not legally affiliated.

Fidelity Portfolio Advisory Service® and Fidelity® Strategic Disciplines are services of Strategic Advisers, Inc., a registered investment adviser and a Fidelity Investments company. Fidelity® Personalized Portfolios may be offered through the following Fidelity Investments companies: Strategic Advisers, Inc.; Fidelity Personal Trust Company, FSB ("FPTC"), a federal savings bank; or Fidelity Management Trust Company ("FMTC"). Non-deposit investment products and trust services offered through FPTC and FMTC and their affiliates are not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency, are not obligations of any bank, and are subject to risk, including possible loss of principal. These services provide discretionary money management for a fee.

Brokerage services are provided by Fidelity Brokerage Services LLC. Custody and other services are provided by National Financial Services LLC. Both are Fidelity Investments companies and Members of NYSE and SIPC.