Fidelity® Expands Alternative Investment Resources for Wealth Management Firms With New Model Portfolios and Education Program

Fidelity Investments announced two new suites of turnkey model portfolios designed to give wealth management firms off-the-shelf access to private markets. The first, Fidelity Model Portfolios with Private Markets, is versioned for I and Z share classes; the second, Fidelity Model Portfolios with Private Markets – ETF Focused. Both are multi-asset, open-architecture portfolios providing diversified exposure across private equity, private credit, and private real estate. They are currently available to eligible registered investment advisors and broker-dealers through Envestnet, Inc., with availability on additional platforms planned in the coming months.

The launch extends Fidelity's custom model portfolios with alternatives, introduced in June 2025. Fidelity cites a 2025 Fidelity Financial Advisor Community Portfolio Construction Survey, conducted by an independent firm, in which 46% of advisors expressed interest in a model portfolio combining traditional and alternative investments. Amanda Robinson, head of Wealth Advisory Managed Solutions Specialist Distribution at Fidelity Investments, said wealth managers often struggle with the time required for research and due diligence, and that the new models give advisors the tools to offer private markets exposure at scale. Fidelity Institutional Wealth Adviser LLC (FIWA), which oversees portfolio construction for turnkey and custom institutional models, relies on a specialized alternative investment manager research team that applies quantitative and qualitative analysis and due diligence to identify high-conviction managers.

On the education side, Fidelity is introducing Alternative Navigator (Alts Navigator), a continuing education-accredited program that combines Fidelity-led sessions, CE-approved tutorials, advisor and end-investor guides, and curated resources. Module 1, "Introduction to alternative investments," and module 2, "The role of alternative investments in client portfolios," are available now, with module 3, "A deeper dive into alternative investing strategies," slated for early 2026. Michael Scarsciotti, head of Investment Specialists at Fidelity Investments, said the program helps advisors deepen their knowledge to meet evolving client needs.

Fidelity states that its asset management divisions manage alternative vehicles across private equity, private credit, real assets, liquid alternatives, and digital assets, with more than 65 funds and over $50 billion in AUM as of November 30, 2025, including funds for eligible investors and funds used by its investment team for portfolio construction. Its alternatives custodial platform offers access to more than 6,000 proprietary and third-party products and oversees more than $100 billion in assets under administration as of December 31, 2025. The release notes that alternative investments may be illiquid, difficult to value, carry high transaction costs, and may not suit all investors.