FundsNetwork accelerates launch of document upload functionality in response to COVID-19 challenges facing advisers
Launch marks the latest enhancement FundsNetwork has made to its platform in the ongoing digitisation of its services
London, 30 April 2020: FundsNetwork today announces the launch of a new online document upload functionality to further support advisers facing the challenges presented by COVID-19 and remote working.
“Upload and Send” will allow advisers to upload specific documents directly to the relevant FundsNetwork operational team, increasing efficiencies by reducing the time taken to post documents, bypassing initial filtering, and reducing their reliance upon paper. At launch the service will support the 18 most common document types that advisers need to submit with plans to expand this for all remaining document types over the coming weeks.
As part of an ongoing programme of digitisation FundsNetwork has recently announced a series of enhancements to its platform, including its acceptance of electronic signatures to support advisers working remotely as a result of the current lockdown restrictions.
Danny Wynn, Head of Proposition, Growth and Strategy, FundsNetwork, comments: “The launch of “Upload and Send” has always formed part of a wider plan to expand upon the range of digital experiences we’re able to offer advisers. However, with the spread of COVID-19 leading us all to adapt to a new way of working - almost overnight - we accelerated its development to provide support at a time most needed.
“Most of the business conducted on FundsNetwork is submitted online without signatures and processed automatically by our systems, however certain documents have still required offline processing. The addition of “Upload and Send”, combined with our move to accept digital signatures means almost 99% of all transactions and instructions enabled through the platform can take place without the need for paper or wet signatures - helping to alleviate some of the administrative burden facing advisers.
“2020 marks our 20th anniversary as a business. Throughout this time, we’ve listened to advisers and responded with the creation of products and services which meet their needs. While the future still presents many uncertainties, it is more important than ever that we work together to ensure we’re providing practical and relevant solutions that allow them to support their own clients as best possible.”
For further details, please contact:
0203 986 2004
Fidelity International offers investment solutions and services and retirement expertise to more than 2.4 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 locations and with $479.9 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 $371 billion 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 March 2020. Read more at fidelityinternational.com
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 almost 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 – 3,557 funds (unit trusts, OEICs & SICAVs)
- Exchange Traded Products – 279 options
- Investment Trusts – 175 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 – 1,032 options
- 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 Ltd 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
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.
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