It's no secret that those who provide independent financial advice fall somewhere along a spectrum of independence from the registered rep of an independent broker/dealer to the completely independent RIA. "No matter where you are on the scale," pledges Jack Callahan, president of Fidelity Institutional Wealth Services, "we will bring together the platforms" of FIWS and Fidelity's National Financial clearing unit to meet the needs of the so-called hybrid market through a new service called HybridOne.
In an interview on June 3, Callahan and Norman Malo, president/CEO of National Financial, described how through a single sign-on advisors who custody with FIWS or reps whose B/Ds clear through National Financial will have access to both shops' offerings. HybridOne will feature "tighter integration" of the separate B/D and RIA workstations that will allow clients, Fidelity said in a statement, "to view their account activity across two platforms," and provide shared access to various investment products, including alternative investments, and Fidelity's in-house practice management resources.
