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Toronto-based Fidelity Clearing Canada (FCC) is teaming up with Chicago-based Envestnet, Inc. to provide its clients with an integrated platform for managed accounts, the back-office support services firm announced on Tuesday.

Envestnet is an operating system for wealth management in North America with over 87,000 advisors and $2.6 trillion in total platform assets.

The platform features comprehensive analytics, portfolio assessment and performance reporting tools to drive enhanced decision-making and allow for deeper insight into the advisors’ book of business. Clients also have the advantage of leveraging FCC’s trade execution, custody and client reporting capabilities.

Recent reports indicate that discretionary brokerages are experiencing significant growth in Canada, FCC says in a news release. Between 2013 and 2018, assets under management in this channel jumped from $136 billion to $268 billion, representing a 25.5% increase.

“FCC is addressing the growing demand for sophisticated fee-based and managed solutions,” says Scott Mackenzie, CEO of FCC, in a statement. “Envestnet will deliver unique capabilities to wealth managers in both the broker-dealer and portfolio manager markets to provide a seamless, customer-centric experience.”