New solution will bridge the gap between the next generation of investors for Fidelity Institutional clients
AUSTIN, February 22, 2023 – 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 old.
“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.”
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.
 The 2022 Fidelity Investor Insights Study