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BOSTON, April 4, 2005 — National Financial, a Fidelity Investments company, today announced it has formed a strategic relationship with Chicago-based Envestnet Asset Management, Inc., the largest independent turnkey asset management platform (TAMP) provider, to offer correspondent broker/dealers and their investment representatives a unified managed account platform integrated with National Financial's Streetscape® brokerage platform. Through National Financial's Unified Managed Account Platform, broker/dealers will have access to a comprehensive menu of integrated investment advisory programs, from a multi-manager and separate account program to a mutual fund wrap program sub-managed by Fidelity's Strategic Advisers, Inc. Strategic Advisers, with $70.6 billion in assets under management1, is a well-known registered investment adviser and wholly owned subsidiary of Fidelity Investments providing high-net-worth investment management services through Fidelity's retail channel. This is the first time Strategic Advisers' mutual fund wrap program will be available to the institutional marketplace. Each investment advisory program will be delivered via National Financial's Unified Managed Account platform and feature integrated client profiling, portfolio diagnostic and proposal tools, consolidated reporting and model management capabilities that will be integrated into National Financial's Streetscape brokerage platform and client services infrastructure. American consumers presently have over $17 trillion of investable assets2, and are increasingly looking to managed accounts to meet their investment needs. National Financial's Unified Managed Account will enable broker/dealers and their representatives to target the rapidly growing managed account market. The integrated platform will allow users to focus on acquisition and management of high-net-worth client relationships instead of supporting multiple unaffiliated programs and non-integrated platforms. Broker/dealers may also realize the economic benefits of consolidating client assets on a single platform. An unbundled Separate Account Supermarket also will be available through the platform, providing broker/dealers access through Streetscape for the first time to nearly 100 separate account managers representing more than 250 investment disciplines. The Supermarket will give broker/dealers the flexibility to create their own proprietary separate account programs. “To be competitive, broker/dealers not only need to offer managed account capabilities to meet the sophisticated needs of their affluent clients, but they also need a comprehensive offering to help attract and retain top tier representatives,” said Norman R. Malo, National Financial president and chief executive officer. “We chose Envestnet because we believe they can offer the best managed account platform for our clients. We are building on our commitment of offering our clients the technology, products and services they need to reduce costs and improve operational efficiencies-allowing for more time to be spent strengthening client relationships and gathering assets.” “The competition among financial institutions to retain their most profitable clients and acquire new relationships is intensifying,” said Jud Bergman, founder and chief executive officer, Envestnet Asset Managment. “National Financial's new Unified Managed Account platform serves a vital role in helping firms meet the increasingly sophisticated needs of this affluent market segment.” National Financial's Unified Managed Account is expected to be available to its correspondent broker/dealer clients during the Fall of 2005. Fidelity Registered Investment Advisor Group currently offers Envestnet as a turnkey asset management provider to its RIA clients on its brokerage platform. About National Financial National Financial provides broker/dealers, ranging from institutional and full-service firms to independent contractors, banks and discount brokers, with clearing and execution products and integrated productivity tools to help enhance firm profitability, drive business growth and forge deeper customer relationships. National Financial also offers a leading online brokerage platform, compliance support, middle-office outsourcing, consolidated record keeping tools, fee-based solutions, and retirement and high-net-worth products, all supported by dedicated client service professionals. The company currently provides clearing services to 268 financial institutions representing 4.1 million client accounts and approximately $416.2 billion in assets, as of February 28, 2005. For more information about National Financial, please visit www.nationalfinancial.com. About Envestnet Asset Management With over $16 billion in assets under management and administration for more than 75,000 investor accounts, Envestnet is the largest independent provider of comprehensive wealth management solutions. The company delivers separately managed accounts, multi-manager accounts, mutual funds, ETFs, and alternative investments as well as other fee-based investment solutions to financial institutions and independent financial advisors through a unified Web-based platform. Envestnet's investment offerings are supported by a proprietary technology platform that delivers customized Web sites and comprehensive reporting capabilities to investment advisory firms across the country. Envestnet Asset Management is headquartered in Chicago with offices in Denver, Los Angeles, Sunnyvale, CA and New York. For more information, please visit www.envestnet.com. About Fidelity Investments Fidelity Investments is one of the world's largest providers of financial services, with custodied assets of $2.1 trillion, including managed assets of $1.1 trillion as of February 28, 2005. Fidelity offers investment management, retirement planning, brokerage, and human resources and benefits outsourcing services to more than 19 million individuals and institutions as well as through 5,500 financial intermediaries. The firm is the largest mutual fund company in the United States, the No. 1 provider of workplace retirement savings plans, one of the largest mutual fund supermarkets and a leading online brokerage firm. For more information about Fidelity Investments, visit www.fidelity.com. 1 As of December 31, 2004 ### 400370
National Financial Services LLC, Member NYSE, SIPC
Notice of Business Continuity Plans 
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