New solution will bridge the gap between the next generation of investors for Fidelity Institutional clients
AUSTIN, Texas, Feb. 23, 2023 /PRNewswire/ — Zogo, a technology company that works with financial institutions to promote financial education and wellbeing through short-form content, today announced its inclusion in the Fidelity Alliance Network, a network of experienced providers offering discounts and special offers to help advisory firms add more value to their service model. Fidelity Institutional® clients will now have discounted access to Zogo’s modules that make it easier to engage with young investors on topics most relevant to their life stage and to help educate the next generation of investors. Through the Fidelity Alliance Network, Fidelity Institutional clients can work directly with Zogo to bridge the financial education gap by providing their clients with educational materials to better understand their investments.
“It’s clear that younger investors are curious about their financial future, and there’s never been a more important time for financial advisors to provide this type of education to their clients,” said Shyam Pradheep, general manager of Zogo. “By being part of the Fidelity Alliance Network, we have an opportunity to engage with financial advisors across America who can leverage our modules to educate the next generation of investors.”
Financial advisors are continuously adapting their strategies to expand their client roster and meet the next generation of investors where they are in their journey. According to data from Fidelity, 85% of young investors would like some form of behavioral coaching from their advisors to help them avoid making mistakes, procrastinating, or making rash decisions, and roughly 67% of young investors expect their advisor to provide services beyond financial advice and investment management. Additionally, 63% agree that advisors should play an important role in providing access to sophisticated investment strategies like alternatives, but more than half (55%) of young investors believe that aligning investments to their values is more important than getting maximum returns. However, advisors have only reached out to 13% of clients’ children, and only one in five advisors have an asset-weighed client age under 60 years oldi.
“Arming advisors with the education necessary to facilitate key conversations with the next generation of clients is a top priority,” said Anand Sekhar, Fidelity’s vice president of Practice Management & Consulting. “Encouraging financial literacy can help firms evolve and unlock significant growth opportunities that next generation investors provide.”
For more information on Zogo, please visit Zogo.com.
Zogo is a technology company that works with financial institutions to promote financial education and wellbeing through short-form content. Its award-winning platform offers bite-sized modules and tangible incentives to make financial literacy and education accessible, fun, and rewarding. The company partners with over 250 institutional partners in all 50 U.S. states to help educate, engage and empower the next generation of financial decision-makers regardless of their background and experience. The platform has garnered nearly one million users since its creation in 2018. The company is currently headquartered in Austin, Texas. To learn more, visit zogo.com or follow @zogofinance on Instagram.
About Fidelity Institutional ®
Fidelity Institutional® provides a comprehensive clearing and custody platform, brokerage services, trading capabilities, and practice management and consulting to registered investment advisers (RIAs), including strategic acquirers and professional asset managers, as well as retirement recordkeepers, broker-dealer firms, banks, and insurance companies through National Financial Services LLC (NFS) or Fidelity Brokerage Services LLC, Members NYSE, SIPC. In addition to providing services to third-party institutions, the NFS brokerage platform supports all the clearing and custody businesses at Fidelity, including Fidelity’s retail and capital markets businesses, bringing NFS assets under administration to more than $4.5 trillion.
When appropriate, Fidelity Institutional (FI) may work with third-party providers to offer business development and practice management solutions to FI clients. The third-party vendors offering these business development solutions to FI clients may not be the only vendors that provide products and services of this kind. FI clients should conduct their own independent due diligence before engaging a vendor and determine whether the particular vendor, and the particular products and/or services offered by the vendor, are right for them. FI clients deciding to employ the services of, or purchase products offered by, a vendor introduced by FI will be required to work directly with the vendor. FI is not a party to any business or contractual relationship between the vendor and FI clients, and all matters relating to such relationships are strictly between the vendor and the applicable Fidelity client.
Fidelity Investments is an independent company, unaffiliated with Zogo. Fidelity Investments is a service provider to Zogo. There is no form of legal partnership, agency affiliation, or similar relationship between your financial advisor and Fidelity Investments, nor is such a relationship created or implied by the information herein. Fidelity Investments has not been involved with the preparation of the content supplied by Zogo and does not guarantee, or assume any responsibility for, its content. Fidelity Investments is a registered trademark of FMR LLC. Fidelity Institutional® provides clearing, custody, or other brokerage services through National Financial Services LLC or Fidelity Brokerage Services LLC, Members NYSE, SIPC.
i The 2022 Fidelity Investor Insights Study