55ip Doubles Its Reach, Adds Comprehensive and Customizable Enhancements to Tax-Smart Solution

The tax-smart investment strategy engine’s enhanced functionality and integrations, coupled with strategic industry relationships, are fueling rapid advisor growth

BOSTON–(BUSINESS WIRE)–55ip has marked significant year-to-date growth for its tax-smart investing strategy engine as a result of advisor-driven enhancements and new strategic relationships with industry-leading financial services firms. With an increased focus on tax strategy across the wealth management industry, advisors are seeing the value and increased benefits of 55ip’s solution improvements and overall growth.

As of June 2021, the number of advisory firms using 55ip doubled from the previous year. Discretionary assets under management (AUM) for those firms increased by 80% — to over $64 billion — and the number of client accounts managed on 55ip eclipsed 225% growth, with now over $4 billion in 55ip-powered assets. In 2020, 55ip-powered taxable accounts delivered 2.58% in average tax savings, a significant outcome in a low-return environment. Expanded functionality, along with investments in the advisor team, has driven a Net Promoter Score (NPS)1 of +78, putting 55ip in the top decile for their industry.

55ip’s mission is to break down barriers to financial progress for financial advisors and their clients by becoming the industry standard tax-smart investment strategy engine. Within the last year, 55ip has enhanced the digital experience through an end-to-end upgrade of the advisor portal and introduced a new accounts dashboard, new investment strategies view, more customized tax-smart transition experience, and access to an in-app help tool. All of these development features were spurred directly by advisor feedback.

Strategic relationships with industry-leading firms and broker-dealers has also supported this rapid growth. Notably, Fidelity Institutional® launched their core model portfolio lineup combined with 55ip’s tax management technology in May 2021, including target allocation, income, bond, and business cycle models. They also delivered enhanced 55ip integration on WealthscapeSM, their custodial platform. Further, 55ip recently engaged in its first broker-dealer partnership, aligning with Janney Montgomery Scott in April 2021 to significantly expand the industry’s approach to tax strategy and drive better outcomes for more clients nationwide. 55ip plans to launch its second major broker-dealer partnership in the coming months.

“Through strategic relationships, the 55ip team has made incredible strides in the last year to support advisors when the market most needed effective tax-smart investing capabilities,” said Paul Gamble, Chief Executive Officer of 55ip. “We have grown the team through strategic hires even during a time when many industries weren’t hiring, and capitalized on the generous talent pool available, all to achieve our mission of driving financial progress for advisors and their end-clients.”

To continue evolving the 55ip solution and experience, key staff have been onboarded in a series of management and senior-level new hires, from firms including Morningstar, State Street, Wells Fargo Asset Management and Bank of America. 55ip plans continued hiring though the end of the year, and the company’s overall headcount is poised to grow by over 70% in 2021. In addition to augmenting in-house talent, 55ip formed the Innovators Council to help shape the company’s priorities. The council is composed of growth-minded, creative and forward-thinking wealth management leaders who combine to provide a diverse perspective. The council includes founding members from First Pacific Financial, Janney Montgomery Scott, Northwest Asset Management, and Pine Grove Financial Group, and other technology-forward wealth management firms.

These complementary efforts and proven results have all played significant roles in the exponential growth of the company in the last 12 months, and will continue to spur business and organizational expansion in the second half of the year.

1 Net promoter score is a widely used market research metric that typically takes the form of a single survey question asking respondents to rate the likelihood that they would recommend a company, product, or a service to a friend or colleague.

About 55ip

55ip is a financial technology company whose purpose is to break down barriers to financial progress. Financial advisors use 55ip’s tax-smart investment strategy engine to dramatically improve their efficiency and effectiveness. 55ip’s intuitive experience and intelligent automation elevate portfolio design and delivery, helping advisors save time and drive better outcomes for their clients. At the heart of the experience is 55ip’s ActiveTax Technology®, which includes tax-smart transitions, management and withdrawals.

55ip is the marketing name used by 55 Institutional Partners, LLC, an investment technology developer, and for investment advisory services provided by 55I, LLC, an SEC-registered investment adviser. 55ip is a wholly owned subsidiary of J.P. Morgan Asset Management, the asset management business of JPMorgan Chase & Co.

For more information on 55ip, please visit www.55-ip.com.

About Fidelity Investments

Fidelity’s mission is to inspire better futures and deliver better outcomes for the customers and businesses we serve. With assets under administration of $11.2 trillion, including discretionary assets of $4.2 trillion as of July 31, 2021, we focus on meeting the unique needs of a diverse set of customers: helping more than 38 million people invest their own life savings, 22,000 businesses manage employee benefit programs, as well as providing more than 13,500 wealth management firms and institutions with investment and technology solutions to drive growth. Privately held for 75 years, Fidelity employs more than 52,000 associates who are focused on the long-term success of our customers. For more information about Fidelity Investments, visit https://www.fidelity.com/about-fidelity/our-company.

Fidelity Model Portfolios, which include any custom models, are made available to financial intermediaries on a non-discretionary basis by Fidelity Institutional Wealth Adviser LLC (“FIWA”), a registered investment adviser, or by Fidelity Distributors Company LLC (“FDC”), a registered broker-dealer (collectively “Fidelity”).

“Fidelity Investments” and/or “Fidelity” refers collectively to FMR LLC, a U.S. company, and its subsidiaries, including but not limited to Fidelity Management & Research Company LLC (FMR) and FIWA.

Fidelity Institutional® provides investment products through Fidelity Distributors Company LLC; clearing, custody, or other brokerage services through National Financial Services LLC or Fidelity Brokerage Services LLC, Members NYSE, SIPC; and institutional advisory services through Fidelity Institutional Wealth Adviser LLC.

Fidelity Investments® is an independent company, unaffiliated with 55ip. Fidelity Investments is a registered service mark of FMR LLC. 994737.1.0


Kara Lester

Gregory FCA for 55ip


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