News | 09.28.21
Fidelity to Roll Out Fractional ETF Trading for Advisors
Fidelity plans to introduce fractional ETF trading to advisors who use its Wealthscape platform. The new service will allow advisors to buy ETFs based on the exact amount of money their clients want to invest. Fidelity says trades will be completed in real time, which allows investors to receive an accurate share price. Fidelity's move comes as fractional shares are considered a necessity for the advice industry to lure mass affluent clients. The service will be offered this month and will be available to about 13,500 advisory companies. Fidelity already provides fractional stock trading for retail investors through its ‘stocks by the slice’ service, which was launched in January 2020. ‘With our industry offering more personalization for investors, advisors have been looking for a way to more finely tune investor portfolios. With fractional share trading, we’re now giving advisors the ability to address that challenge," says Ryan Plotner, Fidelity’s head of transaction and banking solutions.
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