Fidelity Investments has introduced a new Managed Account Xchange, known as FMAX, according to an article in ThinkAdvisor. FMAX is a "one-stop platform" that, among other things, combines financial planning via eMoney with investment management tools. Through FMAX, independent advisors are also able to conduct financial management of separately managed accounts as well as unified managed accounts. Independent advisors will be able to create a financial plan for a client and then execute an investment portfolio through FMAX, according to ThinkAdvisor. Some in the industry believe that FMAX will be the first of many such platforms in the industry.

Financial-Planning.com reported that there will be a single basis-point fee for advisors to use FMAX, which will depend on which FMAX services the advisors uses. There will not be a minimum requirement to use FMAX. Financial-Planning.com also reported that independent advisors will be able to access FMAX through Fidelity's Wealthscape brokerage platform or through eMoney. According to Financial-Planning.com, FMAX is currently being used by 10 wealth management firms.

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