Fidelity Investments Life Insurance Company will team with FundQuest, a fee-based managed account services provider, in its first attempt to enter the turnkey asset management channel, the company said yesterday.

FundQuest, a unit of BNP Paribas, will make Fidelity’s Personal Retirement Annuity, a low-cost, tax-deferred variable annuity, available to fee-based advisors and their clients.

“We believe FPRA will provide advisors with an investment option for managing complex retirement and tax-planning strategies for their clients’ portfolios,” Andrew Stavaridis, vice president of National Accounts for FundQuest, said in a statement.