October 9, 2024 | Last updated October 9, 2024
By Brian Costello, Head of ByAllAccounts Data Aggregation Strategy and Governance, Morningstar Wealth
2 min read
Avoid Disruptions to Fidelity 401k Accounts from Other 3rd-Party Providers
If you’ve been impacted, ByAllAccounts can reconnect your access to Fidelity 401k accounts immediately.
On September 13, 2024, Fidelity Investments blocked access to platforms that are “reliant on credential sharing to access and take action on Fidelity customer accounts,” cutting off a key connection for advisors. Fidelity, which manages a large portion of U.S. 401k assets, cited "that this as an effort to safeguard customer data and privacy.”
Advisors who relied on these platforms now find themselves unable to access their clients' 401(k) accounts. What’s the solution?
How We Can Help
At ByAllAccounts, we provide a secure, compliant solution that allows advisors to view 401k assets without compromising security.
- View 401k Data Securely: Through an “open banking” direct API connection with Fidelity, your clients’ data is accessed securely, eliminating the need for credential sharing.
- Security & Privacy: Our solution is aligned with industry security and privacy standards, helping our customers avoid regulatory pitfalls while maintaining efficient account management.
Immediate Action to Reconnect
If you’re an advisor, please contact your platform provider to start linking Fidelity accounts.
If you’re a direct customer of ByAllAccounts, please contact your Customer Success Manager or the Support Team—byallaccounts-support@morningstar.com—to learn more.
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