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Week’s Best: Will Fidelity Launch Direct Indexing?

·2 min read
Week’s Best: Will Fidelity Launch Direct Indexing?
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After Fidelity rolled out an option to purchase fractional shares, the next likely move for the brokerage is to offer advisors direct indexing. A senior executive confirms Fidelity is looking closely at the issue, raising the question of whether the company will follow other financial-services heavyweights like Vanguard and Charles Schwab and make an acquisition to develop a direct-indexing option. Miami-based Ignacio Barcena, who had a $7 billion book of business at Wells, working with wealthy clients from Latin America, is moving to the independent broker-dealer Insigneo.