Overview
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 the relevant Strategic Advisers 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, eight of the investment strategies offered to Program clients
are sub-advised by Strategic Advisers:
• Fidelity® Tax-Managed U.S. Equity
Index Strategy (to be renamed the Fidelity U.S. Large Cap Index
Strategy) (the “Tax-Managed U.S. Equity Index Strategy”);
• Fidelity® Tax-Managed International Equity Index Strategy (to be renamed the Fidelity International Index
Strategy) (the “Tax-Managed International Equity Index Strategy”);
• Fidelity® Equity-Income Strategy (to be renamed the Fidelity Dividend Income Strategy) (the “Equity-
Income Strategy”);
• Fidelity® U.S. Large Cap Equity Strategy (to be renamed the Fidelity U.S. Large Cap Strategy) (the “U.S.
Large Cap Equity Strategy”);
• Fidelity® International Equity Strategy (to be renamed the Fidelity International Strategy) (the “International
Equity Strategy”);
• Fidelity® U.S. Total Market Index Strategy (the “U.S. Total Market Index Strategy”);
• Fidelity® U.S. Low Volatility Index Strategy (the “U.S. Low Volatility Index Strategy”); and
• Fidelity® Environmental Focus Strategy (the “Environmental Focus 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, 2023, Strategic Advisers’ total assets under management were $792,623,731,892 on a
discretionary basis, and $32,116,364,923 on a nondiscretionary basis.