The QI File

Qualified Intermediary

Exchange Authority

Exchange Authority, LLC · Parent: Fidelity Bank (wholly owned subsidiary; bank parent Fidelity Mutual Holding Company per Chamber of Central MA South listing). Massachusetts community bank — not Fidelity National Financial / IPX1031. · Firm website

FEA membership
FEA member
CES® holders
Albino Caporale, CES®
Fidelity bond
Not published on cited pages
E&O / other cover
Homepage Trusted Security and About: 100% coverage of funds held in escrow through a combination of FDIC and DIF insurance via the Fidelity Bank affiliation. No fidelity-bond or E&O dollar limits are published on the firm pages cited.
How funds are held
Funds unknown
Dual-signature wires
Wire controls unknown
Reverse / improvement / DST
Reverse Yes · Improvement Yes · DST Unknown
Last sourced
2026-09-07

Published coverage notes

Homepage Trusted Security and About: 100% coverage of funds held in escrow through a combination of FDIC and DIF insurance via the Fidelity Bank affiliation. No fidelity-bond or E&O dollar limits are published on the firm pages cited.

Fund handling

About: the QI holds escrow and manages movement of funds. Homepage and About: ‘funds held in escrow’ with FDIC + DIF ‘100% coverage.’ Pages do not say a separately titled account per client, a TIN, or a qualified-escrow workflow, so fundsHeld stays unknown rather than assumed segregated. Dual-signature / who-can-wire mechanics are not described.

Who it is for

Forward, improvement/construction, and reverse 1031 exchangers who want a bank-subsidiary QI. Chamber listing: all 50 states and the U.S. Virgin Islands. Contact page: 465 Shrewsbury Street, Worcester, MA 01604; 978-353-2724; 1031@exchangeauthority.com.

Verdict

Bank-subsidiary QI (Fidelity Bank of Massachusetts — do not confuse with Fidelity National / IPX1031) with a named CES® president the About page says is currently President of the FEA, plus company FEA membership on the chamber listing and a 2016 firm article. The published security story is FDIC+DIF escrow coverage, not a bond schedule, TIN title, or dual-signature bank control. Fees are unpublished. Ask which legal entity is on the exchange agreement and for dual-sig / QEA details.

Notes

This is a QI custody file, not a securities offering. The firm site brands the QI as Exchange Authority. The Chamber of Central MA South listing uses Exchange Authority, LLC, names Fidelity Bank as the wholly owned parent and Fidelity Mutual Holding Company as the bank’s parent, and states company FEA membership. The 31 October 2016 firm article separately says the Exchange Authority is a proud FEA member and a member in good standing since the early 1990s.

Chamber history (not on the live About page): formed in 1999 as a continuation of the Kimball & Kimball Associates QI business established by John Kimball in 1983; Fidelity Bank purchased Exchange Authority LLC in 2014.

About page: the QI holds escrow and supports Forward, Improvement (Construction), and Reverse exchanges. Albino Caporale is President and CEO, a Connecticut-licensed attorney, and a Certified Exchange Specialist (CES) from the FEA. The same bio says he is “currently serving as the President of the Federation of Exchange Accommodators” and has been on the FEA board since 2020. That is a people credential in addition to the company membership sources above.

Homepage Trusted Security and About repeat “100% coverage” of escrow funds through FDIC and DIF. No fidelity or E&O dollar amounts and no fee card appear on those pages. Jennifer Leger and Ruby Vargas are listed as exchange specialists without CES® and are not added to the CES list.

Sources

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Corrections and verification

Listings are sourced from public pages. Unknown is omitted, not graded. If a fact is wrong or stale, send the primary URL.

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