{ "crd_number": 301896, "slug": "fidelity-institutional-wealth-adviser-llc-boston-ma-301896", "primary_business_name": "FIDELITY INSTITUTIONAL WEALTH ADVISER LLC", "legal_name": "FIDELITY INSTITUTIONAL WEALTH ADVISER LLC", "dbas": [ "FIDELITY INSTITUTIONAL AM" ], "city": "Boston", "state": "MA", "country": "United States", "cbsa_code": "14460", "metro": { "cbsa_code": "14460", "common_name": "Boston", "msa_name": "Boston-Cambridge-Newton, MA-NH", "path": "/advisors/ma/boston" }, "registration_type": "sec", "registration_status": "Approved", "registration_date": "2019-06-28", "years_registered": 7, "period": "2026-10-01", "filing_date": "2026-03-30", "carried_forward": false, "raum_total": 9384114700.0, "raum_discretionary": 9384114700.0, "raum_non_discretionary": 0.0, "raum_band": "over_5b", "raum_band_label": "Over $5 billion", "total_employees": 209, "advisory_employees": 101, "client_count_bucket": "fewer_than_5_in_some_types", "clients_by_type": { "charitable": { "raum": 0.0, "count": 5 }, "individuals": { "raum": 320695404.0, "count": 59902 }, "banking_thrift": { "raum": 0.0, "count": null, "fewer_than_5": true }, "other_investment_advisers": { "raum": 0.0, "count": 451 }, "high_net_worth_individuals": { "raum": 4225292854.0, "count": 4169 }, "corporations_other_businesses": { "raum": 4838126442.0, "count": 1335 } }, "compensation_types": [ "fixed", "percentage_of_aum" ], "advisory_activities": [ "educational_seminars", "other", "portfolio_management_businesses_institutional", "portfolio_management_individuals", "selection_of_other_advisers" ], "wrap_fee_participant": true, "disclosure_yes_count": 2, "states_registered": [ "AK", "AL", "AR", "AZ", "CA", "CO", "CT", "DC", "DE", "FL", "GA", "HI", "IA", "ID", "IL", "IN", "KS", "KY", "LA", "MA", "MD", "ME", "MI", "MN", "MO", "MS", "MT", "NC", "ND", "NE", "NH", "NJ", "NM", "NV", "NY", "OH", "OK", "OR", "PA", "PR", "RI", "SC", "SD", "TN", "TX", "UT", "VA", "VI", "VT", "WA", "WI", "WV", "WY" ], "websites": [ "https://clearingcustody.fidelity.com", "https://custom-smas.fmr.com/custom-smas", "https://explore.custom-smas.fidelity.com", "https://fidelity.com", "https://institutional.fidelity.com", "https://linkedin.com/showcase/fidelity-for-institutional-investors", "https://linkedin.com/showcase/fidelity-for-wealth-managers", "https://x.com/FidelityPolicy", "https://x.com/fidelityforIIs", "https://x.com/fidelityforWMs", "https://x.com/fidelitynews", "https://youtube.com/@FidelityInstitutional" ], "iapd_url": "https://adviserinfo.sec.gov/firm/summary/301896", "disclosure_items": [ { "item": "11.D(2)", "question": "Has another federal regulator, a state regulator, or a foreign financial regulator ever found that the firm or an advisory affiliate was involved in a violation of investment-related regulations or statutes?" }, { "item": "11.D(4)", "question": "In the past ten years, has another federal regulator, a state regulator, or a foreign financial regulator entered an order against the firm or an advisory affiliate in connection with investment-related activity?" } ], "city_as_filed": "BOSTON", "url": "https://advisorcensus.com/firm/fidelity-institutional-wealth-adviser-llc-boston-ma-301896", "display_name": "Fidelity Institutional Wealth Adviser LLC", "summary": "Fidelity Institutional Wealth Adviser LLC is an SEC-registered investment advisory firm in Boston, MA, registered since 2019, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated March 30, 2026.", "citation": "AdvisorCensus. Fidelity Institutional Wealth Adviser LLC (CRD 301896): Form ADV filing data as of October 2026.", "registration_type_label": "SEC-registered investment adviser", "compensation_labels": [ "A percentage of assets under your management", "Fixed fees (other than subscription fees)" ], "advisory_activity_labels": [ "Portfolio management for individuals and/or small businesses", "Portfolio management for businesses (other than small businesses) or institutional clients", "Selection of other advisers (including private fund managers)", "Educational seminars/workshops", "Other" ], "quick_answers": [ { "q": "How is Fidelity Institutional Wealth Adviser LLC compensated?", "a": "On its Form ADV (Item 5.E, October 2026), Fidelity Institutional Wealth Adviser LLC reports these compensation arrangements: a percentage of assets under its management; fixed fees (other than subscription fees)." }, { "q": "Where is Fidelity Institutional Wealth Adviser LLC located?", "a": "Fidelity Institutional Wealth Adviser LLC's principal office is in Boston, MA, according to its Form ADV; the April 2026 filing also lists 9 other offices (Schedule D, Section 1.F)." }, { "q": "Is Fidelity Institutional Wealth Adviser LLC registered with the SEC or a state?", "a": "Fidelity Institutional Wealth Adviser LLC is an SEC-registered investment advisory firm, registered since 2019. Status as filed: Approved. CRD 301896." }, { "q": "How much does Fidelity Institutional Wealth Adviser LLC manage?", "a": "Fidelity Institutional Wealth Adviser LLC reports $9,384,114,700 in regulatory assets under management in its Form ADV filing dated March 30, 2026 (100% discretionary)." }, { "q": "How have Fidelity Institutional Wealth Adviser LLC's assets and staff changed since 2021?", "a": "In the Form ADV data for Fidelity Institutional Wealth Adviser LLC: Regulatory assets under management: $2,843,392,652 in the October 2022 data and $9,384,114,700 in the October 2026 data, up 230%. Total employees: 117 in October 2021 and 209 in October 2026. Assets under management move with markets as well as with clients coming and going." }, { "q": "What types of clients does Fidelity Institutional Wealth Adviser LLC serve?", "a": "By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (59,902); high net worth individuals (4,169); corporations or other businesses not listed above (1,335)." }, { "q": "Which custodians does Fidelity Institutional Wealth Adviser LLC use?", "a": "Fidelity Institutional Wealth Adviser LLC's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists National Financial Services LLC (affiliated with the firm) as a custodian holding 10% or more of its separately managed account assets." }, { "q": "Does Fidelity Institutional Wealth Adviser LLC report any disciplinary disclosures?", "a": "Reports 2 disclosure items on Form ADV Item 11: yes answers to 11.D(2) (another regulator's finding of a violation) and 11.D(4) (another regulator's order in the past ten years). Each question covers the firm and its advisory affiliates, and one event can produce several yes answers. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/301896" }, { "q": "What changed in Fidelity Institutional Wealth Adviser LLC's recent Form ADV filings?", "a": "In the April 2026 filing data: Regulatory assets under management went from $6,468,261,663 to $9,384,114,700 (+45%). Employees performing advisory functions went from 93 to 101. Added an office in Covington, KY." } ], "filing_history": [ { "period": "2021-10-01", "regulatory_assets_under_management": null, "total_employees": 117, "filing_date": "2021-09-30" }, { "period": "2022-10-01", "regulatory_assets_under_management": 2843392652.0, "total_employees": 124, "filing_date": "2022-09-30" }, { "period": "2023-10-01", "regulatory_assets_under_management": 2624456349.0, "total_employees": 132, "filing_date": "2023-09-22" }, { "period": "2024-10-01", "regulatory_assets_under_management": 3931298951.0, "total_employees": 174, "filing_date": "2024-09-20" }, { "period": "2025-10-01", "regulatory_assets_under_management": 6468261663.0, "total_employees": 194, "filing_date": "2025-06-23" }, { "period": "2026-10-01", "regulatory_assets_under_management": 9384114700.0, "total_employees": 209, "filing_date": "2026-03-30" } ], "recent_changes": [ { "period": "2026-04-01", "period_label": "April 2026", "notes": [ "Regulatory assets under management went from $6,468,261,663 to $9,384,114,700 (+45%).", "Employees performing advisory functions went from 93 to 101.", "Added an office in Covington, KY." ] }, { "period": "2026-01-01", "period_label": "January 2026", "notes": [ "Updated its list of owners and control persons (Schedule A)." ] } ], "fees_from_brochure": null, "custodians": [ { "name": "National Financial Services LLC", "name_as_filed": "NATIONAL FINANCIAL SERVICES LLC", "affiliated": true } ], "custodians_note": "Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.", "markdown_url": "https://advisorcensus.com/firm/fidelity-institutional-wealth-adviser-llc-boston-ma-301896.md", "clients": [ { "type": "individuals", "label": "Individuals (other than high net worth individuals)", "count": 59902, "fewer_than_5": false, "raum": 320695404.0 }, { "type": "high_net_worth_individuals", "label": "High net worth individuals", "count": 4169, "fewer_than_5": false, "raum": 4225292854.0 }, { "type": "banking_thrift", "label": "Banking or thrift institutions", "count": null, "fewer_than_5": true, "raum": 0.0 }, { "type": "charitable", "label": "Charitable organizations", "count": 5, "fewer_than_5": false, "raum": 0.0 }, { "type": "other_investment_advisers", "label": "Other investment advisers", "count": 451, "fewer_than_5": false, "raum": 0.0 }, { "type": "corporations_other_businesses", "label": "Corporations or other businesses not listed above", "count": 1335, "fewer_than_5": false, "raum": 4838126442.0 } ], "disclosure_line": "Reports 2 disclosure items on Form ADV Item 11.", "indexable": true, "suppressed": false, "claimed": false, "enhanced": false, "provided_by_the_firm": null, "source": { "name": "Form ADV", "as_of": "2026-10-01", "iapd_url": "https://adviserinfo.sec.gov/firm/summary/301896", "operator": "BH Monitor Services, LLC", "license": "https://creativecommons.org/licenses/by/4.0/", "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data" } }