No commissions, no ads, no advice. This Fidelity Wealth Management profile draws only on public records, each linked so you can confirm it yourself.

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The short answer: is Fidelity Wealth Management a fiduciary?

It depends on your account: Fidelity Wealth Management is a fiduciary in its advisory programs, and follows the Regulation Best Interest standard as a broker. Publicly, it files with the SEC as Strategic Advisers LLC (CRD #104555). As of its latest Form ADV (filed March 30, 2026), the firm reported $1.4 trillion in regulatory assets under management. According to the same filing, those assets belong to at least 2,401,764 clients holding 2,973,512 client accounts. Its Form ADV (Item 5.E) lists how it is paid: a percentage of assets under management, fixed fees, and other. You don't have to take this on trust. These records are public and only take a moment to look up.

Fidelity Wealth Management is a dual registrant, so the standard of care changes with the type of account you hold. In its advisory programs it acts as an investment adviser with a fiduciary duty. In brokerage accounts it acts as a broker-dealer under Regulation Best Interest (a best-interest obligation at the time of a recommendation, not a continuous fiduciary relationship). The practical step is to find out which type of account you hold. Get started with Truthifi

Our view: before you sign or renew, ask Fidelity Wealth Management to confirm in writing whether each of your accounts is advisory or brokerage, and what each one costs per year. That single answer tells you which standard of care applies to which dollars.

What "fiduciary" means: a fiduciary is legally bound to place a client's interests above its own. (More on fiduciary duty)

Fidelity Wealth Management at a glance

✅ Verified from public filings, last checked October 5, 2026. Fidelity Wealth Management (SEC CRD #104555) is a fiduciary in its advisory programs, on a fee-based basis, with $1.4 trillion in regulatory assets under management. Each figure below links to its primary source.

What	Fidelity Wealth Management	Source
SEC CRD	#104555	IAPD
Registration	Investment adviser and broker-dealer (dual registrant)	IAPD
Registered since	August 11, 1977 (SEC)	IAPD
Fiduciary?	Yes in advisory programs, Reg BI in brokerage	SEC Reg BI
Fee model	Fee-based (commissions + advisory)	Form ADV Item 5.E
How it's paid	A percentage of assets under management, fixed fees, and other	Form ADV Item 5.E
Regulatory Assets Under Management	$1.4 trillion (Form ADV filed March 30, 2026)	IAPD
Client accounts	2,973,512 (2,973,485 discretionary)	IAPD
Employees	17,112 (17,112 in advisory roles)	IAPD
Ownership	Parent-owned	Form ADV Schedule A
Disclosures	Records carry disclosure items (common at this size). Review them directly	IAPD
HQ	Boston, MA	IAPD

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Fidelity Wealth Management fees: what you'll pay

What you pay Fidelity Wealth Management tracks how it earns. Its fees depend on the account type: commissions in a brokerage account, an asset-based fee in an advisory program. In a brokerage account you generally pay commissions and product costs (mutual fund sales loads, markups, annuity commissions). In an advisory program you pay an asset-based advisory fee instead of per-trade commissions, plus the underlying fund expenses. Investors who trade infrequently may pay less in a brokerage account, since commissions apply only per transaction. Frequent traders, or those wanting ongoing portfolio management, may find the asset-based advisory fee more predictable, though it is charged whether or not you trade. Which account type you hold determines what you pay. According to its Form ADV (2026), Item 5.E, it is paid through a percentage of assets under management, fixed fees, and other.

Fee-based means the cost can come from either an advisory fee or commissions, depending on the account type. For how this differs from a flat or hourly arrangement, see Fee-only financial advisor: costs and how to find one, and for judging the number itself, Are you paying too much? Why that might be the wrong question.

Who owns Fidelity Wealth Management, and what conflicts does it disclose?

Fidelity Wealth Management's ownership is spelled out in the public record. Fidelity Wealth Management is owned by Fidelity Advisory Holdings LLC, as listed in Schedule A of its Form ADV. (Form ADV Schedule A)

Its Form ADV Part 2A describes the firm's conflicts of interest, including how it and its advisers are paid.

Fidelity Wealth Management SEC record: disclosures

To check Fidelity Wealth Management's regulatory record, start with the firm's own filings. Like most large firms, Fidelity Wealth Management's regulatory records may carry disclosure items, and at that scale the number of disclosures is not by itself a measure of wrongdoing or of the firm's quality. A higher count can partly reflect how many people are registered, but the nature and severity of each item matter more than the total. A bigger firm tends to accumulate more total items than a smaller one because more people are registered under it. If any of them matter to you, read them directly at the source.

On the record, the firm has been registered with the SEC since August 11, 1977, makes notice filings in 52 jurisdictions, and reports 17,112 employees, according to its IAPD record. "Is Fidelity Wealth Management legit?" comes up a lot. Its registration, CRD and filings are public and verifiable. What deserves your attention instead is what you're paying and earning.

Reading Fidelity Wealth Management reviews against the public record

Star ratings and client comments describe what working with a firm felt like. They usually don't show the fees, ownership or disciplinary history the firm reports to regulators. Before you weigh Fidelity Wealth Management reviews, check three things this profile takes from the public record. First, how the firm is paid: advisory accounts and brokerage accounts carry different pay structures, which changes which standard applies. Second, who owns it and what conflicts it discloses. Third, whether its Form ADV reports any disciplinary history. Read reviews alongside the record, not instead of it.

How to verify Fidelity Wealth Management yourself

Here's how to confirm all of it in three steps:

1. Check the SEC adviser record (IAPD): https://adviserinfo.sec.gov/firm/summary/104555.
2. Read the filings (Form ADV / Form CRS): linked from the IAPD page.
3. Confirm the entity: match Fidelity Wealth Management (CRD #104555, legal name STRATEGIC ADVISERS LLC) so you're reading the right firm.

What Fidelity Wealth Management does and who it serves

According to its Form ADV (2026), Fidelity Wealth Management reports providing financial planning, portfolio management for individuals and small businesses, portfolio management (investment companies), portfolio management for businesses and institutions, selection of other advisers, and educational seminars.

It reports providing financial planning to about 936,705 clients in its last fiscal year, according to Form ADV Item 5.H, a count the form keeps separate from the client totals below.

Its Form ADV (Item 5.D) breaks its clients down by type, at least 2,401,764 in all:

Client type	Clients	Assets managed
Individuals	1,654,834	$164.64 billion
High-net-worth individuals	736,141	$396.75 billion
Investment companies	15	$589.44 billion
Pension and profit-sharing plans	10,164	$161.53 billion
Charities	12	$49.77 billion
State or municipal government entities	92	$7.35 billion
Corporations or other businesses	505	$646.2 million
Other	Fewer than 5	$8.2 million

It reports 2,973,512 client accounts, more than the at least 2,401,764 clients in the table (many clients hold more than one account), 2,973,485 discretionary (the firm can trade without seeking your approval first) and 27 non-discretionary, according to Item 5.F. Its main office is in Boston, MA.

Read the table closely and the $1.4 trillion headline looks different. The 15 investment-company clients account for $589.44 billion, more than the 1,654,834 individuals and 736,141 high-net-worth clients combined ($561.39 billion). So the firm's size says more about the funds it runs than about the attention any one household's account receives. And with only 27 non-discretionary accounts reported, an advisory account here will almost certainly be one where the firm can trade without asking you first.

It reports that it or a related person has custody of certain client assets, which brings extra safeguards such as surprise examinations. The specifics are in its Form ADV.

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The firm checks out in minutes. The real work is seeing everything you hold, together.

Confirming Fidelity Wealth Management is registered takes a few minutes. A Fidelity advisor sees the accounts you hold at Fidelity; an old 401(k) at a former employer, a spouse's holdings at another custodian or fees folded into a fund held elsewhere usually sit outside that view. Even with full visibility into its own 2,973,512 accounts, a firm's Form ADV won't show a held-away 401(k) or outside account. The filing describes the firm, not your household. This is where Truthifi comes in.

How Truthifi can help

Truthifi links your accounts read-only and shows what you own, how it's allocated, how it's performing and where the risk sits, including single-stock exposure, returns next to a benchmark, a fee breakdown of the fees on each account, by type, and your Truthifi Score. You can share the accounts you choose with your advisor at Fidelity Wealth Management.

Prefer your own AI? A paid Truthifi plan lets you connect an AI assistant that supports MCP sign-in, such as Claude. Truthifi Connect is the lighter membership for people who only want to use their own assistant. Questions about your fees need Monitoring or Monitoring Plus+. See how Truthifi keeps your accounts secure

Ask AI about your Fidelity Wealth Management accounts

Once your accounts are connected read-only, you can ask in plain English:

• "What do I own across my Fidelity Wealth Management accounts and everything else, and how is it allocated?"
• "What am I paying in fees on each of these accounts?"

Try it with Truthifi: start for free at app.truthifi.com and run a Monitoring Checkup (limits apply).

No commissions, no ads, no advice: Truthifi is not an investment adviser and doesn't give investment, tax or legal advice. Its access to your bank and brokerage accounts is read-only. Start free (limits apply). Monitoring Checkup is free. Per Truthifi's published plan limits, you can link up to 10 connections. Plans and limits are on the pricing page → truthifi.com.

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FAQ

Is Fidelity Wealth Management a fiduciary? It depends on your account. In its advisory programs it acts as a fiduciary. In brokerage accounts it follows the SEC's Regulation Best Interest standard. Ask which type of account you have.

What are Fidelity Wealth Management's fees? They depend on the account. Brokerage accounts generally pay commissions and product charges. Advisory programs charge an asset-based fee instead of per-trade commissions, plus underlying fund costs. See the Form CRS.

Who owns Fidelity Wealth Management? Fidelity Wealth Management is owned by Fidelity Advisory Holdings LLC, as listed in Schedule A of its Form ADV.

Does Fidelity Wealth Management have complaints or disclosures? Its regulatory records may carry disclosure items, as is common at its size. A disclosure is not proof of wrongdoing. Read any directly on BrokerCheck and the firm's Form ADV.

Is Fidelity Wealth Management legit? Fidelity Wealth Management is registered with the SEC (CRD #104555) and its filings are public on the SEC's IAPD site, which confirms it is a real, regulated firm. Registration doesn't tell you whether it's the right fit or what you'll pay, so read the fee and conflict sections of its Form ADV.

Can AI help me check whether I'm getting good value? Yes. Start free (limits apply): Monitoring Checkup is free and lets you link up to 10 connections. On a paid plan you can also connect an AI assistant you already use (such as Claude). On Monitoring or Monitoring Plus+ you can ask it, in plain English, about the fees on each of your accounts. Truthifi is not an investment adviser and doesn't give investment, tax or legal advice.

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About this profile

Truthifi built this profile from the firm's own SEC filings (Form ADV and, where filed, Form CRS). Every page is reviewed by the Truthifi Team before publishing. The Truthifi advisor fact packs are an ongoing series checking U.S. investment advisers against their public filings, one firm at a time.

Read next from the Truthifi blog

• What is a fiduciary?
• Fee-only financial advisor: costs and how to find one
• Are you paying too much? Why that might be the wrong question
• How to ask AI about your real investment accounts
• Robo-advisor vs. human financial advisor: which is better?
• All advisor fact packs on Truthifi

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A note on sources. The facts on this page come from publicly available documents, Fidelity Wealth Management's SEC and FINRA filings, each linked inline so you can verify it yourself (SEC data current as of October 5, 2026). This is general information, not financial or legal advice, and Truthifi is not affiliated with Fidelity Wealth Management. Regulatory records change, so always confirm against the official sources linked above. Spot something that should be corrected? Email us at support@truthifi.com.

One question no filing can answer is which of those 2,973,512 accounts are yours and what they cost you each year. That answer lives in your own statements, and it is the one worth checking next.