Fidelity Investments has launched a new Web-based platform for registered investment advisers. Called WealthCentral, it is designed to combine the various functions and tools that RIAs need, including financial planning, portfolio management and customer relationship management.

Supporting the platform in the back office is Advent Software’s portfolio exchange software. Oracle is providing a CRM solution.

“Today, advisers must buy their various technology applications in a piecemeal fashion and then try and make the systems work together as best they can, something that can be costly and extremely inefficient,” said John W. “Jack” Callahan, president of Fidelity Institutional Wealth Services.

“That’s why Fidelity is investing $50 million in developing what we believe will be the strongest and most integrated platform in the industry, helping address this critical market need,” Callahan said.

According to Fidelity research, two-thirds of RIAs view a single platform as valuable and half see it as very valuable. WealthCentral will be available late next year.

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