Fidelity® Separately Managed Accounts

Combining the value of professional investment management with the advantages of a transparent, personalized structure—a separately managed account from Fidelity might be the right fit to help you reach your financial goals.

Overview

Why separately managed accounts (SMAs)?

SMAs offered through Fidelity® Strategic Disciplines are professionally managed, single asset class portfolios consisting primarily of individual stocks or bonds that you own directly. An SMA can complement a well-diversified portfolio by providing targeted, strategy specific exposure within an asset class.

SMAs allow you to
Know what you own – because you have direct ownership of the securities in your account, SMAs give you real-time transparency into what your holdings are and how your account is being managed


Personalize what you own – SMAs offer options to personalize your account based on your individual needs and preferences


Keep more of what you earn – Our tax-smart approach can help keep your money invested and working for you1. SMAs present greater opportunities than mutual funds (MFs) or exchange traded funds (ETFs) for the investment team to apply tax-smart investment management, such as tax loss harvesting and capital gains management, to your account.

Pie chart depicts hypothetical investor is using an SMA to complement their overall portfolio's allocation
As shown in this illustrative example, this hypothetical investor is using an SMA to complement their overall portfolio's allocation

The advantages of SMAs

While mutual funds (MFs) and exchange traded funds (ETFs) can help you achieve your long-term financial goals, as the table shows, SMAs can provide some distinct advantages.

Features* SMAs MFs ETFs
Professional money management
  •   
  •   
  •   
Specific investment objective
  •   
  •   
  •   
Reduce capital gains distributions2
  •   
  
  •   
Potential for personalized tax management
  •  
    
Direct ownership of securities
  •   
    
Opportunity to bring in existing holdings
  •  
    
Ability to add personalization
  •  
    
Transparency of holdings
  •  
    
Proxy voting optionality3
  •   
    
Simplicity of owning one holding  
  •   
  •   

* For more information on the risks and costs associated with investing in SMAs, mutual funds, and ETFs, please refer to endnote.4

Investing in SMAs at Fidelity

Fidelity's SMAs provide a range of investment solutions uniquely constructed for individual clients.


  • Expertise — Leverages wide-ranging global research and analytics to deeply understand market and investment opportunities and risks
  • Experience — An extensive history managing equity and fixed income strategies as well as investment manager selection
  • Access — You'll have access to SMA portfolio strategies that are exclusively available through Fidelity