The Fidelity exodus tracker

Fidelity will stop custodying for advisers with under $100M on its platform after June 30, 2027. Each one has to grow past the line, merge or move. We found the advisers below the line in their own SEC filings, and we track where each one goes.

Announced by Fidelity on October 1, 2026.

Days to the deadline

236

June 30, 2027

471

advisers under $100M at Fidelity

$23.5B

of their client assets at Fidelity

use Fidelity as their only custodian

have filed a move away so far

Where they stand

46 of the 471 have filed again since the announcement.

Status	Advisers
No new filing yet	425
Filed again, still under $100M at Fidelity	46
Filed again, now over $100M at Fidelity	0
Dropped Fidelity	0
Filed again, no custodians listed	0
No longer registered	0

Where the movers went

The custodian holding the most of each mover's assets after leaving Fidelity.

No adviser in the group has filed a move away from Fidelity yet. Most advisers update their custodians in the annual filing due by March 31, 2027, so expect moves to show up in spring. Every one will appear here as it's filed.

Who's affected

395 of the advisers already use another custodian too, so consolidating there is an easy way out. The 76 that use only Fidelity face the biggest decision: grow, merge or repaper every client account.

By assets at Fidelity
At Fidelity	Advisers	Assets
Under $25M	124	$1.2B
$25M–$50M	112	$4.1B
$50M–$100M	235	$18.1B

Top states
State	Advisers
—	79
CA	50
NY	45
TX	42
FL	29
MA	19
OH	19
MI	16
VA	16
CO	14

The full list, for customers

Every adviser, by name

Firm, location, total AUM, assets at Fidelity, its other custodians, and its status, with a link to each filing.

Alerts as they move

Know the week an adviser files: where it went, or that it grew past the line.

In your AI

Ask Claude: "Which Fidelity-only advisers in Texas with $25M–$100M haven't moved yet?"

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How we count

Advisers list their custodians and the assets at each in Form ADV, Schedule D 5.K(3). For each adviser we take its last filing on or before October 1, 2026, and include it if it reported less than $100M at Fidelity's custody entities (Fidelity Brokerage Services, National Financial Services, and listings that simply name Fidelity Institutional or Fidelity Investments).
Advisers only list custodians holding at least 10% of their separately managed account assets, so very small Fidelity relationships don't appear. Our count is a floor. Other estimates range from "a few hundred" (Fidelity) to roughly 1,000 firms.
Status comes from each adviser's newest filing since the announcement. Most advisers update custodians once a year, in the annual filing due by March 31, 2027.
Assets are as reported by the advisers. Numbers refresh as new filings are loaded.

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Who moved, where they went, and who's still deciding. Free while we're in early access.

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