Fidelity Institutional is bringing digital fixed income trading to its Wealthscape platform, according to an announcement. The trading tool, called Fidelity Bond Beacon, helps advisors manage individual fixed income investing for their clients.
With bond traders seeing a successful year, Fidelity is helping its advisors by supporting intermediary bond trading and management, including tools to support execution quality management. The tool works alongside Fidelity Capital Markets’ brokerage tech, giving advisors a clearer picture of the fixed income marketplace, in turn strengthening pricing efficiency.
“For years, the industry has been working toward digitizing fixed income investing,” said Renzo Iturrino, head of fixed income product solutions for Fidelity Institutional’s Capital Markets group, in a statement. “The three primary benefits to advisors are that it brings together all of their fixed income needs in one simple platform, it gives them access to a much broader range of offerings than before and it offers competitive prices through greater depth, which we're able to achieve as the only major clearing and custody firm with an in-house institutional fixed income trading capability for advisors.”
Fidelity Institutional clients will be the first to access the tool, which integrates with Wealthscape so advisors see fixed income holdings alongside other elements of clients’ portfolios.
“We’re able to quickly access the broad market and get the latest details on a wide range of fixed income offerings and then use that knowledge to take action right within the platform,” said Alan Rosenfield, chief investment officer for Harmony Asset Management and an early-adopter of the platform. “The depth of liquidity and easy navigation make it simple to find the information we need and to compare offerings.”
“Having everything in one place streamlines the whole trading process,” he added.
