BOSTON--(BUSINESS WIRE)--Fidelity Investments Life Insurance Company (FILI) and FundQuest, a leading fee-based managed account services provider, today announced a new alliance that allows FundQuest to make Fidelity Personal Retirement Annuity^® (FPRA)², a low-cost, tax-deferred variable annuity, available to fee-based advisors and their clients. The alliance is the first of its kind for Fidelity’s annuity and insurance business and represents its entry into the turnkey asset management channel.

Through the alliance, FundQuest has integrated FPRA into its asset allocation modeling capabilities for fee-based advisors. Fidelity will provide annuity-related sales support and access to Fidelity’s insurance-licensed sales representatives.

FPRA has been integrated into FundQuest’s Wealth Architect™ offering, a leading advisor back-office and investment management platform. Advisory firms employ Wealth Architect to deliver fee-based mutual fund models, unified managed accounts (UMAs), income portfolios, ActivePassive Portfolios^®, and Advisor Choice portfolios.

Wealth Architect supports the full advisory cycle, including: client profiling and proposal development, portfolio diagnostics, open-architecture investment management, ongoing account administration and advanced quarterly reporting. Custody and clearing services are provided via established connectivity to Fidelity Institutional Wealth Services^®.

“At a time when many investors are looking for ways to get their retirement investments back on track, we are pleased to be able to make FPRA available to fee-based advisors seeking ways to further help their clients maximize their tax-deferred investment strategies,” said Joan Bloom, executive vice president, Fidelity Investments Life Insurance Company.

Originally introduced in 2005 for direct sale to customers, FPRA’s simplified design makes it an easy-to-understand, tax-deferred retirement investment option for many investors. Its costs are among the lowest in the industry³, and its transparent features are void of the traditional sales, maintenance or surrender fees associated with many annuity products. [Note: FPRA does not have a guaranteed minimum death benefit.] The product’s more than 50 investment options also accommodate a wide range of investing needs and styles.

“We believe FPRA will provide advisors with an investment option for managing complex retirement and tax-planning strategies for their clients’ portfolios,” said Andrew Stavaridis, vice president, National Accounts, at FundQuest. “FPRA can also help advisors make their management of portfolios more tax efficient.”

FPRA is now available to more than 40 registered investment advisory firms via FundQuest. Advisory firms that want to learn more about FundQuest’s platform and how to make FPRA available to their clients can visit www.fundquest.com/usa or call 888.253.9169. For additional information about Fidelity Investment Life Insurance Company and FPRA, advisors can also visit www.fidelityinsuranceagency.com/advisor or call 617.392.1577.

About Fidelity Investments Life Insurance Company (FILI)

Established in 1987, Fidelity Investments Life Insurance Company (FILI), and for New York residents, Empire Fidelity Investments Life Insurance Company^®, New York, N.Y., develop and market their own insurance products, in addition to offering access to a number of insurance products from other from well-known carriers.⁴ FILI maintains an A+ (strong) rating from S&P⁵ and an A+ (superior, 2^nd highest) rating from A.M. Best.⁶

About Fidelity Investments

Fidelity Investments is one of the world's largest providers of financial services, with assets under administration of nearly $3.1 trillion, including managed assets of more than $1.4 trillion as of Oct. 31, 2009. Fidelity offers investment management, retirement planning, brokerage, and human resources and benefits outsourcing services to over 20 million individuals and institutions as well as through 5,000 financial intermediary firms. The firm is the largest mutual fund company in the United States, the No. 1 provider of workplace retirement savings plans, the largest mutual fund supermarket, a leading online brokerage firm and one of the largest providers of custody and clearing services to financial professionals. For more information about Fidelity Investments, visit www.fidelity.com.

About FundQuest

FundQuest is a partner to RIAs, independent advisers, banks, and insurance broker-dealers to help them grow, control expenses, improve profitability, and expand their product and services offerings. FundQuest’s services are employed by more than 180 financial advisory firms. The company’s advanced technology, objective investment research, high quality back-office operations, and sales support services enable financial advisers to deliver highly competitive personal wealth management services.

Financial advisers leverage FundQuest’s flexible wealth management solutions to provide: unified managed accounts, mutual fund advisory, separately managed accounts, income portfolios, trust services, annuities, exchange-traded funds, and alternative investments.

The combined US and European operations of FundQuest have $40 billion in assets under management and administration. FundQuest’s services are offered in the U.S. through FundQuest Incorporated, a registered investment adviser based in Boston, MA. FundQuest is part of BNP Paribas, one of the world’s largest financial services firms. www.fundquest.com/usa

Before investing, consider the investment objectives, risks, charges and expenses of the variable annuity and its investment options. Call or write to Fidelity or visit Fidelity.com for a free prospectus containing this information. Read it carefully.

Principal value and investment returns of a variable annuity will fluctuate and you may have a gain or loss when money is withdrawn.

Annuities are issued by Fidelity Investments Life Insurance Company (FILI), and in New York, by Empire Fidelity Investments Life Insurance Company, ® New York, N.Y. FILI is licensed in all states except New York. Some annuities are issued by third party insurance carriers. The contract's financial guarantees are solely the responsibility of the issuing insurance company.

FundQuest does not provide tax advice to advisors or their clients. Investment advisors and their clients are advised to rely on tax forms and related information provided by the custodian of assets for tax reporting purposes and should seek a tax professional for specific advice.

FundQuest and FundQuest Incorporated are not affiliated with any Fidelity Investments company.

Third party marks appearing herein are the property of their respective owners.

Fidelity Brokerage Services LLC, Member NYSE, SIPC, and/or Fidelity Insurance Agency, Inc. are the distributors.

Fidelity Brokerage Services LLC, Member NYSE, SIPC

900 Salem Street, Smithfield, RI 02917

524562.1.0

© 2009 FMR LLC. All rights reserved.

¹ Fidelity Investments Life Insurance Company (and its affiliates) and FundQuest are not affiliated, and have separate products and services. In New York, Empire Fidelity Investments Life Insurance Company,^® New York, NY.

² Fidelity Personal Retirement Annuity (Policy Form No. DVA-2005, et al.) and, for New York residents, Personal Retirement Annuity (Policy Form No. EDVA-2005, et al.).

³ According to Morningstar, Inc., Fidelity Personal Retirement Annuity's annual annuity charge of 0.35% is among the lowest 1% compared to the industry average of 1.37% for non-group open variable annuity contracts as of 12/31/08.

⁴ Fidelity Brokerage Services, Member NYSE, SIPC, and/or Fidelity Insurance Agency, Inc., distribute fixed and variable insurance products issued by Fidelity Investment Life Insurance Company, Empire Fidelity Investments Life Insurance Company, New York, NY, and certain third party insurance companies, which are not affiliated with Fidelity Investments.

⁵ S&P rating reflects solid position in the variable annuity market, operating performance, capitalization, liquidity and investment quality, 5/20/09. (Insurance company ratings are subject to change.)

⁶ A.M. Best rating reflects company’s financial strength, 6/15/09. (Insurance company ratings are subject to change.)

Fidelity Corporate Communications
617-563-5800
or
FundQuest
Jim Graves, 617-526-7386
jgraves@fundquest.com