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Compare Managed Accounts

With a Fidelity managed account, your assets will be overseen by professional money managers. They are responsible for managing your account, meaning they research and choose the investments, monitor the markets, employ risk management techniques, and make adjustments consistent with your investment strategy.

Fidelity Managed Accounts

  Fidelity Portfolio Advisory Service® Fidelity® Personalized Portfolios BlackRock® Diversified Income Portfolio Breckinridge Intermediate Municipal SMA
Description

For investors who want help saving for retirement or another large financial goal

For high-net-worth investors who want help managing their taxable assets

For investors seeking income—primarily through exchange-traded funds For high-net-worth investors who are looking for income generated by individual municipal bonds
Minimum investment

$50,000

$200,000

$200,000

$500,000
Costs1

A gross annual advisory fee will be charged—between 0.63% and 1.7%—and will vary based on total assets invested.

A gross annual advisory fee will be charged—between 0.55% and 1.5%—and will vary based on total assets invested.

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

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

Investment holdings

A mix of Fidelity and non-Fidelity stock and bond mutual funds and other investments, as appropriate; exclusive access to Strategic Advisers Funds

A mix of Fidelity and non-Fidelity stocks, bonds, mutual funds, exchange-traded funds, and, when appropriate, your investment team may propose the use of separately managed accounts (SMAs)2

Primarily exchange-traded funds, but may contain other investment vehicles such as mutual funds3; the portfolio's investment exposure will be diversified among commonly used (e.g., stocks and bonds) and lesser-known (e.g., REITs and bank loans) income sources.

Primarily investment-grade municipal bonds.A significant portion of the bonds in your portfolio will have an Aaa or Aa credit quality rating from Moody's at the time of purchase and/or an AAA or AA credit quality rating from S&P at the time of purchase.5

Your contacts at Fidelity

Account balance: $250,000+
A financial consultant will be your primary contact for all your financial needs across Fidelity, and a portfolio specialist will be your dedicated contact for all your managed account needs.

Account balance: $200,000–$250,0006
A portfolio specialist will be your dedicated contact for all your managed account needs.

Account balance: $50,000–$200,0006
Dedicated members of a client management team

A portfolio specialist will be your dedicated contact for all your managed account needs. You may also have access to a financial consultant who will be your contact for all your financial needs across Fidelity.

A portfolio specialist will be your dedicated contact for all your managed account needs. You may also have access to a financial consultant who will be your contact for all your financial needs across Fidelity.

A financial consultant will be your primary contact for all your financial needs across Fidelity, and a portfolio specialist will be your dedicated contact for all your managed account needs.

Investment team Strategic Advisers, Inc., a registered investment adviser and Fidelity Investments company Strategic Advisers, Inc., a registered investment adviser and Fidelity Investments company Strategic Advisers, Inc., a registered investment adviser and Fidelity Investments company, and BlackRock Investment Management, LLC Strategic Advisers, Inc., a Fidelity Investments company, and Breckinridge Capital Advisors, Inc., both registered investment advisers
Investment strategy Your long-term asset allocation and the investments which make up your portfolio compose your investment strategy. Over time, your investments will be actively monitored and adjusted with the goal of taking advantage of upside market activity, while seeking to minimize downside risk. Your long-term asset allocation and the investments which make up your portfolio compose your investment strategy. Over time, your investments will be actively monitored and adjusted with the goal of taking advantage of upside market activity, while seeking to minimize downside risk. A portfolio that seeks to generate income with the potential for capital appreciation by investing in commonly used and lesser-known sources of income, while carefully balancing the trade-offs between risk and yield. A portfolio constructed primarily of intermediate-term, investment grade municipal bonds offered for both national and state preference options.4
Customized communications Exclusive content on Fidelity.com, dedicated phone number, monthly statements, details about the specific trades made in your account, quarterly investment reports, and an annual review
Trust services

We can provide you with investment management for your trust assets. Trustee or co-trustee services are available through Fidelity Personalized Portfolios.

Fidelity can serve as trustee or co-trustee with fiduciary administration, recordkeeping, and tax preparation.7

If you choose to remain trustee yourself or name someone else, we can still provide you with investment management for your trust assets.

We can provide you with investment management for your trust assets. Trustee or co-trustee services are available through Fidelity Personalized Portfolios.

We can provide you with investment management for your trust assets. Trustee or co-trustee services are available through Fidelity Personalized Portfolios.

Next steps Call us at 800-544-1766 or complete our online Investor Profile Questionnaire. Call us at 800-544-1766.
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Complete an Investor Profile Questionnaire

Tell us about your investment objectives

Call us at 800-544-1766
or
Get started online using the appropriate link below

(available for Fidelity Portfolio Advisory Service® and Fidelity® Personalized Portfolios only)

Time needed: Approximately 15 minutes
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New to Fidelity

After reviewing your investor profile, we'll send you a complimentary investment proposal.

Keep in mind, investing involves risk. The value of your investment will fluctuate over time, and you may gain or lose money.
All information is confidential. Learn about our security.
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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1. You will also incur underlying expenses associated with the investment vehicles selected.
2. Please note that you will be charged an additional fee for any SMAs held in your account. These fees are in addition to the basic advisory fees for Fidelity Personalized Portfolios. Please refer to your 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. 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.
5. Pre-refunded and escrowed-to-maturity bonds are also considered eligible for funding and invested by Breckinridge, regardless of credit rating.
6. If your total assets at Fidelity are over $250,000, you will also be assigned a financial consultant.
7. All Fidelity® Personalized Portfolios for Trusts Accounts where FPTC acts as Trustee or Co-Trustee will be subject to a trust administration fee. Please refer to your Client Agreement for detailed fee information.

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

Diversification and asset allocation does 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® 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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