James Hay reports "dramatic" increase in funds on platform

The James Hay Partnership has reported a "dramatic" increase in funds on platform. The platform for retirement wealth planning has added 1,258 funds to its Investment Centre since the start of the year to 30 September.The firm estimated it will have added a further 100-200 by the end of the year. {desktop}{/desktop}{mobile}{/mobile} The latest additions included funds from ten new fund managers which take the total funds on the Investment Centre up to 3,370 with a split of 1,947 unbundled and 1,423 bundled.The average annual management charge on the Collect fund range, which is accessible via an adviser as well as direct, is 0.68% and on the Select fund range of institutional pooled pension funds, including specialised funds, which are only accessible through an adviser, the average AMC is 0.39%.Meanwhile, James Hay has launched a new ISA. The firm said this will allow clients to take advantage of the full flexibility introduced in the Budget savings reforms.Available through the Modular iPlan, which has a core Sipp, the ISA allows stocks and shares, a range of cash products and over 3,000 funds permitted for ISA investments in the platform's Investment Centre all available within a single ISA account.The product can be purchased on-line with the option to use digital signature, plus free on-line switching for funds in the Investment Centre.Chris Smeaton, director of marketing, said: "The ability to offer access to funds, stocks and shares and a range of cash products now within a single ISA wrapper is a real plus for clients as it enables them to manage their investment portfolios more efficiently within a single arrangement."Despite the changes introduced by the regulator under the new CASS rules earlier in the year, which made it inherently more difficult to offer cash products via ISAs, we are pleased that we have managed to do this, and will continue to add to the panel over the coming months to give clients even greater choice."

James Hay reports "dramatic" increase in funds on platform

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