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Compare Managed Accounts

Fidelity offers a variety of managed accounts, each one tailored to a different type of investor with different needs. Use the chart below to help understand which managed account may be right for you and your situation.

Managed Account Type For Investors Who Want Investment Strategy Minimum Investment Fees1
Fidelity Portfolio Advisory Service®

Help saving for retirement or another large financial goal

A long-term asset allocation investment strategy that includes a mix of Fidelity and non-Fidelity stock and bond mutual funds and other investments, as appropriate, in a model portfolio

$50,000 A gross annual advisory fee will vary between 0.63% and 1.7% based on total assets invested.
Fidelity® Personalized Portfolios

Help managing taxable assets for long-term growth

A long-term asset allocation investment that includes a mix of Fidelity and non-Fidelity stocks, bonds, mutual funds, exchange-traded funds, and, when appropriate, separately managed accounts2

$200,000

A gross annual advisory fee will vary between 0.55% and 1.5% based on total assets invested.
BlackRock® Diversified Income Portfolio

Income—primarily through exchange-traded funds

A portfolio composed primarily of exchange-traded funds that seek to generate income with the potential for capital appreciation, while carefully balancing the trade-offs between risk and yield3

$200,000

An annual advisory fee will vary between 0.55% and 1.10% based on total assets invested.

Managed Account Type For Investors Who Want Investment Strategy Minimum Investment Fees1
Fidelity® Equity-Income Strategy

Help managing assets for long-term growth and dividend income

A strategy that seeks to deliver long-term growth of capital and dividend income greater than the S&P 500® Index with the potential for less volatility than the U.S. stock market

$200,000 An annual advisory fee will vary between 0.30% and 0.90% based on total assets invested.
Fidelity® Tax-Managed U.S. Equity Index Strategy

Help managing assets for long-term growth and who have concerns about taxes

A strategy that seeks to pursue the long-term growth potential of U.S. large-cap stocks and deliver enhanced after-tax returns through active tax management4

$200,000

An annual advisory fee will vary between 0.20% and 0.65% based on total assets invested.
Breckinridge Intermediate Municipal SMA

To limit risk to principal while generating income from individual municipal bonds

A strategy that seeks to limit risk to principal while delivering federally tax-exempt interest income. It is constructed primarily of intermediate-term, investment grade municipal bonds5 offered in both national and state preference options6

$500,000

An annual advisory fee will vary between 0.25% and 0.35% based on total assets invested.

1. The advisory fee does not cover charges resulting from trades effected with or through broker-dealers other than affiliates of Strategic Advisers, mark-ups or mark-downs by broker-dealers, transfer taxes, exchange fees, regulatory fees, odd-lot differentials, handling charges, electronic fund and wire transfer fees, or any other charges imposed by law or otherwise applicable to your account. You will also incur underlying expenses associated with the investment vehicles selected. Please ask your Fidelity representative for details.
2. Please note that you will be charged an additional fee for any separately managed accounts held in your account. These fees are in addition to the basic advisory fees for Fidelity® Personalized Portfolios. Please refer to the program's Client Agreement for detailed fee information.
3. The BlackRock Diversified Income Portfolio is composed of exchange-traded products (ETPs)—primarily exchange-traded funds (ETFs)—but may contain other investment vehicles such as mutual funds.
4. Strategic Advisers, Inc. (SAI), applies tax-sensitive investment management techniques in the Fidelity® Tax-Managed U.S. Equity Index Strategy, including "tax-loss harvesting," at its discretion, solely with respect to determining when assets in a client's account should be bought or sold. As a discretionary investment manager, SAI may elect to sell assets in an account at any time. A client may have a gain or loss when assets are sold. SAI does not currently invest in tax-deferred products, such as variable insurance products, or in tax-managed funds in its separately managed accounts, but may do so in the future if it deems such to be appropriate for a client. SAI does not actively manage for alternative minimum taxes; state or local taxes; foreign taxes on non-U.S. investments; or estate, gift, or generation-skipping transfer taxes. SAI relies on information provided by clients in an effort to provide tax-sensitive management and does not offer tax advice. SAI can make no guarantees as to the effectiveness of the tax-sensitive management 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. Clients in our separately managed accounts are responsible for all tax liabilities arising from transactions in their accounts, for the adequacy and accuracy of any positions taken on tax returns, for the actual filing of tax returns, and for the remittance of tax payments to taxing authorities.
5. Investment-grade bonds are 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.
6. Pre-refunded and escrowed-to-maturity bonds are also considered eligible for funding and invested by Breckinridge, regardless of credit rating.
S&P 500 is a registered service mark of Standard & Poor's Financial Services LLC. It is a market capitalization–weighted index of 500 common stocks chosen for market size, liquidity, and industry group representation to represent U.S. equity performance. Indexes are unmanaged. It is not possible to invest directly in an index. Securities indices are not subject to fees and expenses typically associated with managed accounts.
Generally, among asset classes, stocks are more volatile than bonds or short-term instruments and can decline significantly in response to adverse issuer, political, regulatory, market, or economic developments. Although the bond market is also volatile, lower-quality debt securities including leveraged loans generally offer higher yields compared to investment grade securities, but also involve greater risk of devault or price changes. Foreign markets can be more volatile than U.S. markets due to increased risks of adverse issuer, political, market or economic developments, all of which are magnified in emerging markets.

Diversification and asset allocation do not ensure a profit or guarantee against loss.

ETFs are subject to market fluctuation and the risks of their underlying investments. ETFs are subject to management fees and other expenses. Unlike mutual funds, ETF shares are bought and sold at market price, which may be higher or lower than their NAV, and are not individually redeemed from the fund.
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.
Strategic Advisers, Inc., and Breckinridge Capital Advisors, Inc., are independent entities and are not legally affiliated.
Strategic Advisers, Inc. and BlackRock Investment Management, LLC are independent entities and are not legally affiliated. Strategic Advisers, Inc. is the investment manager for client accounts and implements trades for the accounts based on the model portfolio of investments it receives from BlackRock Investment Management, LLC. Strategic Advisers, Inc. may select investments for an account that differ from BlackRock Investment Management, LLC's model.
Fidelity Portfolio Advisory Service®, BlackRock® Diversified Income Portfolio and Fidelity® Strategic Disciplines are services offered through Strategic Advisers, Inc., a registered investment adviser and a Fidelity Investments Company. Fidelity® Strategic Disciplines includes the Breckinridge Intermediate Municipal Separately Managed Account, Fidelity® Equity Income Strategy, and the Fidelity® Tax-Managed U.S. Equity Index Strategy. 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 .
Before investing in any mutual fund or exchange-traded product, you should consider its investment objectives, risks, charges and expenses. Contact Fidelity for a prospectus, offering circular, or, if available, a summary prospectus containing this information. Read it carefully.
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Strategic Advisers, Inc., and BlackRock Investment Management, LLC, are independent entities and are not legally affiliated. Strategic Advisers, Inc. is the investment manager for client accounts and implements trades for the accounts based on the model portfolio of investments it receives from BlackRock Investment Management, LLC. Strategic Advisers, Inc. may select investments for an account that differ from BlackRock Investment Management, LLC's model.
Fidelity Portfolio Advisory Service®, BlackRock® Diversified Income Portfolio and Fidelity® Strategic Disciplines are services offered through 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, 900 Salem Street, Smithfield, RI 02917. Custody and other services provided by National Financial Services LLC. Both are Fidelity Investment companies and members SIPC, NYSE.
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