FundsNetwork adds further discretionary fund managers to platform

London, 25 February 2021: FundsNetwork, Fidelity International’s adviser platform, has expanded its range of Discretionary Fund Managers to now offer over 40 DFMs via the platform, including Brooks Macdonald, FE Investments and HSBC Asset Management.

This follows the implementation of new enhancements to the platform that support the split payment of fees to advisers and DFMs, help increase efficiencies, reduce administration and streamline processes. In addition, the service now accommodates recent industry changes to VAT on DFM fees, enabling them to be accommodated with or without VAT and existing client books to be updated in bulk where applicable.

Improvements were also made to the Management Information (MI) available to DFMs, and a new optional client quarterly portfolio statement that allows DFMs to add their own commentary has also been implemented.

As a result of all these enhancements, over one-hundred new advisers have joined FundsNetwork over the past few months.

This work is part of FundsNetwork’s ongoing investment in a range of transformation initiatives, including increased options for regular savings plans, a new pension summary report feature providing detailed overviews of clients’ pension accounts, and improved client reporting with benefits and features built around client feedback.

Paul Richards, Head of FundsNetwork Distribution at Fidelity International, said: “We are extremely pleased to see that the recent enhancements to FundsNetwork have led to the rapid expansion of both the number of DFMs and advisers using our platform.

“Those who follow Fidelity and FundsNetwork closely will be aware this is part of a significant investment across our platforms over a number of years, based upon direct feedback from our clients. The result of this is an ever-improving platform with our clients’ evolving needs and requirements at its core, and we aim to continue this practice as we provide further solutions.”

Gary Stirrup, Director, Head of UK Distribution at Brooks Macdonald commented: “We have been working with Fidelity FundsNetwork for over 12 months now and the platform capability goes from strength to strength supporting our mutual relationships with intermediaries. The improved service proposition helps to provide timely and essential updates to all parties, especially to support clients and their ongoing needs.”

Oliver Clarke-Williams, Portfolio Manager at FE Investments, said: “The inclusion of our risk-targeted portfolio range within the Fidelity FundsNetwork will greatly enhance their reach to end investors. FundsNetwork is highly regarded as an investment platform and their clients will benefit from our approach to portfolio construction, which differs from traditional methods.”

Smera Ashraf, Head of IFA Distribution, HSBC Asset Management, said: “Advisers have been eager to access our Global Model Portfolio Service (MPS) on the Fidelity FundsNetwork platform due to its wide reach and a strong set of adviser tools. The increased servicing and reporting Fidelity FundsNetwork will provide advisers and clients will complement our fully transparent, cost efficient MPS.”

For more information, go to https://adviserservices.fidelity.co.uk/

 


Notes to Editors

For further information, please contact:

Rebecca D’Cunha, 0203 986 2032 / 07435 541470 / rebecca.dcunha@fil.com

Emma Beresford, 0203 986 2004 / 07730 594806 / emma.beresford@fil.com

About Fidelity International

Fidelity International offers investment solutions and services and retirement expertise to more than 2.5 million customers globally. As a privately held, purpose-driven company with a 50-year heritage, we think generationally and invest for the long term. Operating in more than 25 countries and with $706.3 billion in total assets, our clients range from central banks, sovereign wealth funds, large corporates, financial institutions, insurers and wealth managers, to private individuals.

Our Workplace & Personal Financial Health business provides individuals, advisers and employers with access to world-class investment choices, third-party solutions, administration services and pension guidance. Together with our Investment Solutions & Services business, we invest $471billion on behalf of our clients. By combining our asset management expertise with our solutions for workplace and personal investing, we work together to build better financial futures. Data as at 31 December 2020. Read more at fidelityinternational.com

About FundsNetwork

FundsNetwork™ is Fidelity International’s adviser platform that provides advisers and their clients with access to a range of investment related services.

Launched in 2000, we have more than 20 years’ experience of helping independent financial advisers run efficient and profitable businesses, while serving the needs of their clients. We are committed to improving client experience at every stage of the advice process, through the development of a platform which offers flexibility and efficiency to support their changing needs.

The system, developed with Bravura Solutions, provides advisers with access to a broad set of product wrappers and investments, as well as enhanced administrative services. These include;

  • Investments – over 5,000 assets from over 200 partners including Fidelity
    • Funds – 4,044 funds (unit trusts, OEICs & SICAVs)
    • Exchange Traded Products – 319 options
    • Investment Trusts – 189 options
    • Shares – the ability to invest in shares from the FTSE100, FTSE250, FTSE All-Share and FTSE AIM 100 and some shares from the ISEQ20 – 1,166 options
  • Pension
  • ISA and Junior ISA
  • Investment Account
  • Pension trustee, Company and Trusts accounts
  • Cash Management Account – allowing clients to hold cash outside of product wrappers
  • International Bond – provided by Canada Life and giving access to platform fund range
  • Tax and trust planning – including Bare Gift Trust, Bare Loan Trust, Discretionary Gift Trust, Excluded Property Trust and Discretionary Loan Trust
  • Evolution and Estate Planning Bonds – provided by Utmost Wealth Solutions and giving access to our platform fund range
  • Regular Withdrawal Plan – monthly, quarterly, semi-annual or annual payments available
  • Model Portfolios and DFMs – advisers can create bespoke portfolios of up to 30 funds and use defined models where discretionary permissions exist
  • An increasing number of DFMs available through the platform

Fidelity only offers information on products and services and does not provide investment advice based on individual circumstances, other than when specifically stipulated by an appropriately authorised firm, in a formal communication with the client.

Fidelity International refers to the group of companies which form the global investment management organisation that provides information on products and services in designated jurisdictions outside of North America. This communication is not directed at, and must not be acted upon by persons inside the United States and is otherwise only directed at persons residing in jurisdictions where the relevant funds are authorised for distribution or where no such authorisation is required.

Unless otherwise stated all products and services are provided by Fidelity International, and all views expressed are those of Fidelity International. Fidelity, Fidelity International, the Fidelity International logo and F symbol are registered trademarks of FIL Limited.

This material is for Investment Professionals only, and should not be relied upon by private investors. The value of investments and the income from them can go down as well as up so the client may get back less than they invest.

Reference to specific securities should not be construed as a recommendation to buy or sell these securities and is included for illustration purposes only.

Investors should note that the views expressed may no longer be current and may have already been acted upon.

Issued by Financial Administration Services Limited, authorised and regulated by the Financial Conduct Authority.

CC21/11