Blucora Completes Conversion of HD Vest Client Assets to Fidelity Clearing & Custody Solutions®
Conversion is part of ongoing effort to create next-generation technology ecosystem for advisors
Expected benefit to segment income of more than
enhancing profitability and enabling reinvestment
The conversion, which represents the culmination of more than 15 months of work, is part of the firm’s ongoing effort to accelerate growth across the entire
“This relationship is a win for end clients, advisors and shareholders,” said
HD Vest’s integration with Fidelity gives advisors a variety of advantages to enable increased efficiency and productivity, with single-sign-on access, including:
- Fidelity Wealthscape℠ tools for account management and maintenance, trading, and more, including a consolidated view of all brokerage account holdings.
- Enhanced mobile capabilities.
- Access to VestAccess, a low-fee, low-account-minimum managed solution that leverages Fidelity Automated Managed Platform (AMP), Fidelity Clearing & Custody Solutions’ digital advice technology co-developed with eMoney Advisor³.
“Equipping advisors to deliver more value to their clients is at the heart of everything we do,” said
HD Vest plans to continue working with Fidelity and other industry leaders to offer its advisors practice insights, support, and efficiencies, which allow them to deepen client relationships, and do their best work. HD Vest remains committed to enhancing the friction-free experience it provides for advisors by:
- Improving analytics and reporting.
- Introducing more trading capabilities, including an enhanced rules engine and trailing stop capabilities.
- Enabling straight-through processing.
- Eliminating third-party technology vendors.
Since its inception in 1983, HD Vest Financial Services® has supported an independent network of tax and non-tax professionals who provide comprehensive financial services including securities, insurance, money management services, and banking solutions. We have over 3,700 independent contractors, who manage over
About Fidelity Clearing & Custody Solutions
Fidelity Clearing & Custody Solutions provides a comprehensive clearing and custody platform, brokerage, investment and reporting services, trading capabilities and practice management and consulting to registered investment advisors, including strategic acquirers and professional asset managers, retirement recordkeepers, broker-dealer firms, banks, insurance companies, family offices and wealthy families. Fidelity Clearing & Custody Solutions’ goal is to help clients ensure that they are always future-ready by offering knowledgeable consulting, exceptional people and transformative technology. For more information, please visit https://clearingcustody.fidelity.com/app/item/RD_13569_42626.html.
VP, Investor Relations,
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. When used in this release, terms such as “believes,” “estimates,” “should,” “could,” “would,” “plans,” “expects,” “intends,” “anticipates,” “may,” “forecasts,” “projects” and similar expressions and variations as they relate to the Company or its management are intended to identify forward-looking statements. Actual results may differ significantly from management’s expectations due to various risks and uncertainties including, but not limited to: our ability to effectively implement our future business plans and growth strategy; our ability to effectively compete within our industry; our ability to attract and retain customers; the availability of financing and our ability to meet our current and future debt service obligations and comply with our debt covenants; our ability to generate strong investment performance for our customers and the impact of the financial markets on our customers’ portfolios; political and economic conditions and events that directly or indirectly impact the wealth management and tax preparation industries; our ability to attract and retain productive financial advisors; our ability to successfully make technology enhancements and introduce new and improve on existing products and services; our expectations concerning the revenues we generate from fees associated with the financial products that we distribute; our ability to comply with laws and regulations, including, among others, those related to privacy protection and consumer data; expectations concerning the benefits that may be derived from the new clearing platform for our wealth management business; cybersecurity risks; our ability to maintain our relationships with third party partners; the seasonality of our business; litigation risks; our ability to attract and retain qualified employees; our assessments and estimates that determine our effective tax rate; the impact of new or changing tax legislation; our ability to develop, establish and maintain strong brands; our ability to protect our intellectual property; and our ability to effectively integrate companies or assets that we acquire. A more detailed description of these and certain other factors that could affect actual results is included in the Company’s filings with the
²Think Advisor 2016 Broker-Dealer Reference Guide, which measured/ranked the top 25 independent broker-dealers by annual revenue.
HD Vest Financial Services® is the holding company for the group of companies providing financial services under the HD Vest name.
Securities offered through HD Vest Investment Services®, Member FINRA/
Fidelity Clearing & Custody Solutions® and
Fidelity Clearing & Custody Solutions® provides clearing, custody, or other brokerage services through
Source: Blucora, Inc.