Fidelity Investments said it will spend $50 million to develop a platform to help wealth management advisers.
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The Boston company said Tuesday that the WealthCentral platform will be launched late next year and will eliminate the need for advisers to use multiple technology systems that are not compatible with one another.
Fidelity said it has chosen Advent Software Inc. to provide the applications for portfolio management and reporting services for the platform.
As of Sept. 30, Fidelity had $1.5 trillion of assets under management.
