Strategic Advisers LLC (“Strategic Advisers”) is a registered investment adviser under the Investment
Advisers Act of 1940 (“Advisers Act”) and an indirect, wholly owned subsidiary of FMR LLC (collectively
with Strategic Advisers and its affiliates, “Fidelity Investments,” “Fidelity,” “us,” “our,” or “we”). Strategic
Advisers was formed in 1977 and provides a variety of investment management services, including
discretionary portfolio management services to retail and institutional clients and nondiscretionary
advisory services to certain institutional clients, including but not limited to Fidelity affiliates. This
brochure provides information only about Strategic Advisers’ role with respect to Fidelity® Strategic
Disciplines (the “Program”). For information about the additional services that Strategic Advisers
provides, please see Strategic Advisers’ relevant Form ADV Part 2A brochures.
Strategic Advisers serves as a sub-advisor to its affiliate, Fidelity Personal and Workplace Advisors LLC
(“FPWA”), in connection with various investment advisory programs offered by FPWA, including the
Program. As sub-advisor, Strategic Advisers will make the day-to-day discretionary trading decisions
with respect to Program accounts (“Program Accounts”) and will receive a portion of the advisory
fees clients pay to FPWA in connection with the Program. Important information regarding FPWA and
the Program can be found in the FPWA
Fidelity Strategic Disciplines Program Fundamentals (“FPWA
Program Fundamentals”).
As described in the FPWA Program Fundamentals, for the Program, five of the investment strategies
offered to Program clients are sub-advised by Strategic Advisers:
• Fidelity® Tax-Managed U.S. Equity Index Strategy (the “Tax-Managed U.S. Equity Index Strategy”);
• Fidelity® U.S. Large Cap Equity Strategy (the “Large Cap Equity Strategy”);
• Fidelity® Equity-Income Strategy (the “Equity-Income Strategy”);
• Fidelity® International Equity Strategy (the “International Equity Strategy”); and
• Fidelity® Tax-Managed International Equity Index Strategy (the “Tax-Managed International Equity
Index Strategy”).
Before a client enrolls in the Program, FPWA will determine whether the relevant strategy is appropriate
for the client based on a review of their investor profile and any other relevant information that the
client provides to FPWA. Subject to the imposition of reasonable restrictions, Strategic Advisers will
apply its proprietary methodology to manage a client’s Program Account to align with the selected
strategy. Strategic Advisers is responsible for portfolio management, trading, and supervision of
Program Accounts.
As of December 31, 2022, Strategic Advisers’ total assets under management were $632,686,303,378 on
a discretionary basis, and $26,863,921,604 on a nondiscretionary basis.