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FIDELITY LAUNCHES MAJOR INITIATIVE TO SERVE INVESTMENT ADVISORS; ADVISOR RESOURCE GROUP DRIVES FOR BIGGER SHARE OF INSTITUTIONAL TRADES

FIDELITY LAUNCHES MAJOR INITIATIVE TO SERVE INVESTMENT ADVISORS; ADVISOR RESOURCE GROUP DRIVES FOR BIGGER SHARE OF INSTITUTIONAL TRADES
 CHICAGO, May 13 /PRNewswire/ -- Driving for a bigger share of institutional markets serving money managers, Fidelity Brokerage Group has launched the Advisor Resource Group. The Advisor Resource Group will provide customized investment services and technology for independent registered investment advisors.
 This new unit was established to meet the needs of registered investment advisors across the nation. The Advisor Resource Group features a central trading desk in Boston staffed by dedicated senior traders, who are trained to meet the special needs of investment advisors. The service will offer a full range of brokerage and mutual fund products, personalized service and advanced technology that will enable investment advisors to improve their portfolio performance and better serve their customers. Products and Services
 Advisor Resource Group traders will execute trades for stocks, bonds, options, Fidelity mutual funds and more than 600 non-Fidelity mutual funds. Advisors can also trade annuities and "market baskets" of stocks in various sectors. In addition, they can trade large blocks of stocks or corporate bonds for clients and then automatically allocate specified amounts into individual accounts at an average price. Large block trades are handled by Fidelity Capital Markets.
 To provide the highest level of service available to professional money managers, the Advisor Resource Group is assigning each advisor to an account service manager who is dedicated to addressing the special needs of professional money managers.
 As part of the basic package, investment advisors will receive accounting and back office services, including consolidated statements of their customers' accounts, automatic disbursements to clients, and automatic deduction of advisor fees. Technology
 The technology that has brought Fidelity to the forefront in mutual finds and brokerage can now be accessed by independent investment advisors. Investment advisors will be able to electronically tap Fidelity Brokerage's computer system and have trade confirmations, positions and balances transferred or downloaded to their personal computers. This eliminates the need to manually type in trading information.
 "Qualified advisors may even deal directly with other buyers and sellers through our new Investors' Liquidity Network (ILN)," said Larry Armstrong, executive vice president, Emerging Business Group. ILN is a sophisticated computer order matching system that permits direct trading inside the best public bid and offer for the first time. ILN allows customers to automate their securities trading and match their trades with orders from a wide variety of other traders, including Fidelity's own retail order flow. ILN was developed by National Financial Institutional Services, a unit of Fidelity Investments. Fees
 There are no service fees for the basic package and commissions are highly competitive. Available on a soft dollar basis is a large library of independently produced reports including fundamental, technical, economic asset allocation and strategic research and comprehensive summary of compliance issues for investment advisors.
 Investment advisors seeking additional information should contact Fidelity Investment's Advisor Resource Group at 800-221-2759.
 -0- 5/13/92
 /CONTACT: Kim Dobbins of Fidelity Investments, 312-726-4403/ CO: Fidelity Investments ST: Illinois IN: FIN SU: PDT


PB -- NE005 -- 9658 05/13/92 12:01 EDT
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Publication:PR Newswire
Date:May 13, 1992
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