Fidelity Imposed New $100 Million Asset Minimum

Registered investment advisors must reach the new asset threshold or leave the platform by mid-2027.

Updated on Oct. 5, 2026 in Financial Planning

Isometric editorial illustration of a heavy monolith balanced on a frame, symbolizing a new financial asset requirement threshold. — Fidelity has set a new $100 million asset minimum for investment advisors, requiring non-compliant firms to leave its custodial platform by June 2027. AI Illustration. Upload story photo >

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Fidelity has mandated that all registered investment advisors (RIAs) maintain at least $100 million in assets on its custodial platform. This policy shift applies to existing relationships, requiring firms that fall below this minimum to exit the platform by June 30, 2027.

Why it matters

The move aims to boost profitability and reduce operational risks by consolidating client assets with larger firms. For households, this may force some advisors to shift their clients to new custodial platforms if their current firm is deemed non-compliant.

Fidelity now requires a $100 million asset minimum for all RIA custodial relationships. This change impacts firms that previously operated under looser standards, potentially affecting the custodial choice for households working with smaller advisory shops.

The players

Fidelity

A major financial services corporation providing investment management, retirement planning, and custodial services to individual investors and advisory firms.

The details

Fidelity enforces these standards by requiring smaller RIAs to either scale their total assets held on the platform or terminate their service agreement. The firm previously restricted access to specific high-cost strategies, such as long-short separately managed accounts (SMAs), by blocking new accounts in December 2025 and raising usage fees in May 2026. These measures collectively target greater operational efficiency by discouraging reliance on smaller, fragmented advisory partnerships.

December 2025: Fidelity blocked new long-short SMA accounts.
May 2026: Fidelity increased fees for long-short SMA usage.
October 5, 2026: Custody minimum requirements were detailed.
June 30, 2027: Deadline for RIAs to meet the $100 million minimum.

Money Landscape

Custodians are increasingly prioritizing high-asset partnerships to maximize efficiency in a competitive market. This move represents a tightening of institutional standards that reflects a broader industry push toward consolidation.

Households should verify if their financial advisor relies on Fidelity for asset custody and if that firm meets the new $100 million threshold. If your advisor is affected, speak with them about their transition plans and any potential changes to your account access or fees.

The takeaway

Custodians are shifting their business models to favor larger, more profitable advisory relationships. Review your most recent client statement to confirm which firm holds your assets and discuss any potential platform changes with your advisor during your next check-in.