Fidelity Registered Investment Advisor Group has been renamed Fidelity Institutional Wealth Services. The change recognises the evolving role trust institutions and third-party administrators also play in meeting the wealth management needs of investors. The evolution of the market is supported by Fidelity research and third-party data indicates that the majority (70 per cent) of millionaires work with at least one financial professional, and an additional 13 per cent report they are likely to start working with one over the next 12 months. Additionally, assets in personal trusts are expected to increase from $3 trillion today to $7 trillion by 2010. While increased flows into TPAs has resulted in their market share increasing to 35 per cent, up from 28 per cent in 2000. "The growing reliance on workplace retirement plans, the maturing of the Baby Boomers and greater consumer demand for access to sophisticated wealth management products and services is driving the evolution of our clients' businesses," said John "Jack" Callahan, president, Fidelity Institutional Wealth Services. Established in 1992, Fidelity Institutional Wealth Services provides trading, custody and brokerage services to RIAs, trust institutions and TPAs. The company has in custody more than $290 billion in assets on behalf of approximately 3,800 clients.