New turnkey model portfolios offer exposure to private markets, available to eligible RIAs and broker-dealers through Envestnet
Fidelity’s Alternative Navigator^SM helps financial advice professionals build knowledge while earning continuing education (CE) credits

Fidelity Investments^® today announced two new suites of turnkey model portfolios and an expanded set of educational resources to better support wealth management firms as they seek to understand and implement alternative investments in their practices.

The two new suites of turnkey model portfolios are designed to provide exposure to private markets, bringing an off-the-shelf solution to eligible wealth management firms. Fidelity Model Portfolios with Private Markets, versioned for I and Z share classes, and Fidelity Model Portfolios with Private Markets – ETF Focused are multi-asset class, open-architecture model portfolios that bring diversified exposure across private equity, private credit, and private real estate. These new offerings are currently available to eligible registered investment advisors (RIAs) and broker-dealers (BDs) via Envestnet, Inc. (“Envestnet”), a leading provider of adaptive wealthtech for financial advisors, and will be available on additional platforms in the coming months.

The new turnkey model suites follow the June 2025 launch of Fidelity’s custom model portfolios with alternatives. With nearly half (46%) of advisors interested in a model portfolio that offers both traditional and alternative investmentsⁱ, Fidelity now offers a range of solutions to meet that need.

“Wealth managers recognize the potential for private markets to differentiate their practice and diversify portfolios, but often struggle with the time needed for research and due diligence,” said Amanda Robinson, head of Wealth Advisory Managed Solutions Specialist Distribution at Fidelity Investments. “These new additions to our suite of turnkey models provides advisors the tools they need to offer private markets exposure at scale.”

Fidelity Institutional Wealth Adviser LLC (FIWA)^®, which oversees portfolio construction for both turnkey and custom institutional model portfolios, includes an experienced, specialized alternative investment manager research team. The team applies quantitative and qualitative analysis and a rigorous due diligence process to identify managers with high conviction. FIWA’s systematic portfolio construction process also leverages proprietary research and insights from across Fidelity to create portfolios to help investors reach their long-term objectives.

Advancing Advisor Education

Fidelity is introducing Alternative Navigator^SM (Alts Navigator), a CE-accredited learning program designed to help advisors quickly and effectively build and apply their knowledge of alternative investments. The module-based program includes Fidelity-led sessions from its team of portfolio construction and alternative investment strategists, CE-approved tutorials (Fidelity-led or self-led), advisor and end-investor guides, and curated resources.

“As interest in alternative investments grows, so does the need for education,” said Michael Scarsciotti, head of Investment Specialists at Fidelity Investments. “This program helps advisors deepen their knowledge of this asset class to meet clients’ evolving needs and add value to their practices.”

Module 1, “Introduction to alternative investments” and module 2, “The role of alternative investments in client portfolios” are available now to advisors. Module 3, “A deeper dive into alternative investing strategies,” is slated for release in early 2026. Advisors can visit institutional.fidelity.com to learn more about the program or contact their Fidelity representative today to get started.

Fidelity also offers a robust library of thought leadership and insights for advisors to learn more about alternative investments and how they can potentially enhance clients’ portfolios: An advisor's guide to alternative investments. That includes research from FIWA, “Alternative investments and their roles in multi-asset class portfolios.”

Alternative Investments at Fidelity

Fidelity, through its asset management divisions, manages a range of alternative investment vehicles, including private equity, private credit, real assets, liquid alternatives, and digital assets. Fidelity Investments' alts lineup includes more than 65 funds, comprised of funds for eligible investors and funds available to the firm's investment team for portfolio construction, totaling more than $50 billion in assets under management^[ii].

In addition, Fidelity is a leading provider of custodial services, offering access to more than 6,000 proprietary and third-party alternative products and overseeing more than $100 billion in assets under administration^[iii] on its alternative investments platform for institutional and intermediary clients.

About Fidelity Investments

Fidelity’s goal is to strengthen the financial well-being of our customers and deliver better outcomes for the clients and businesses we serve. Fidelity’s strength comes from the scale of our diversified, market-leading financial services businesses that serve individuals, families, employers, wealth management firms, and institutions. With assets under administration of $17.5 trillion, including discretionary assets of $6.8 trillion as of September 30, 2025, we focus on meeting the unique needs of a broad and growing customer base. Privately held for 79 years, Fidelity employs more than 78,000 associates across the United States, Ireland, and India. For more information about Fidelity Investments, visit https://www.fidelity.com/about-fidelity/our-company.

Fidelity Institutional Wealth Adviser LLC (FIWA)^® is a registered investment adviser and an indirect, wholly-owned subsidiary of FMR LLC. Fidelity Model Portfolio Solutions are made available to Intermediaries on a non-discretionary basis by FIWA.

Views expressed are as of the date indicated, based on the information available at that time, and may change based on market or other conditions. Unless otherwise noted, the opinions provided are those of the speaker or author and not necessarily those of Fidelity Investments or its affiliates. Fidelity does not assume any duty to update any of the information.

Fidelity Investments^® is an independent company, unaffiliated with Envestnet. Fidelity Investments is a service provider to Envestnet. There is no form of legal partnership, agency affiliation, or similar relationship between Envestnet and Fidelity Investments, nor is such a relationship created or implied by the information herein. Fidelity Investments is a registered trademark of FMR LLC. Fidelity Investments^® provides investment products through Fidelity Distributors Company LLC; clearing, custody, or other brokerage services through National Financial Services LLC or Fidelity Brokerage Services LLC, Members NYSE, SIPC; and institutional advisory services through Fidelity Institutional Wealth Adviser LLC.

Fidelity does not provide legal or tax advice. The information herein is general and educational in nature and should not be considered legal or tax advice. Tax laws and regulations are complex and subject to change, which can materially impact investment results. Fidelity makes no warranties with regard to such information or results obtained by its use, and disclaims any liability arising out of your use of, or any tax position taken in reliance on, such information. Consult an attorney or tax professional regarding your specific situation.

Alternative investment strategies may not be suitable for all investors and are not intended to be a complete investment program. Risks associated with alternative investments include: alternatives may be relatively illiquid; it may be difficult to determine the current market value of the asset; and there may be limited historical risk and return data. Costs of purchase and sale may be relatively high. A high degree of investment analysis may be required before investing. Keep in mind investing involves risk. The value of your investment will fluctuate over time, and you may gain or lose money.

Envestnet’s technology, platforms, and associated solutions are designed to serve and support advisory accounts.

Fidelity Brokerage Services LLC, Member NYSE, SIPC
900 Salem Street, Smithfield, RI 02917

Fidelity Distributors Company LLC
900 Salem Street, Smithfield, RI 02917

National Financial Services LLC, Member NYSE, SIPC
245 Summer Street, Boston, MA 02110

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©2026 FMR LLC. All rights reserved.

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ⁱ 2025 Fidelity Financial Advisor Community – Portfolio Construction Survey was an online blind survey (Fidelity not identified) and was fielded during the period December 13 – 23, 2024. Participants included over 500 advisors who manage or advise upon client assets either individually or as a team and work primarily with individual investors. Advisor firm types included a mix of banks, independent broker-dealers, insurance companies, regional broker-dealers, RIAs, and national brokerage firms (commonly referred to as wire-houses). The results are weighted to reflect industry composition. The study was conducted by an independent firm not affiliated with Fidelity Investments.
ⁱⁱAs of November 30, 2025
ⁱⁱⁱAs of December 31, 2025

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