FundsNetwork adds investment trusts and pension transfer cashback

Fidelity FundsNetwork is to add a range of popular investment trusts and exchange traded products toits platform from December. Separately, Fidelity today also announced a new offer on pension transfers. It will pay cashback of between £250 and £1,500 on pensions transferred to its platform before 18 December. The minimum transfer is £100,000 which earns £250.Fidelity will also pay up to £500 in total exit fees imposed by current pension providers as standard and is offering a “free initial chat” to investors with the Fidelity Retirement Service before switching if consumers want to check any smallprint.FundsNetwork will offer advisory firms and their clients’ access to investment trusts from providers including Aberdeen, Baillie Gifford, Invesco Perpetual and JP Morgan Asset Management as well as the five investment trusts from Fidelity. The range comes with a standard service fee of 0.25% and annual investor fee (for new purchases) of £45. There will also be a 0.10% dealing fee.{desktop}{/desktop}{mobile}{/mobile}In addition, FundsNetwork says it will also extend its range of ETPs on offer – comprising a selection of the leading exchange traded funds (ETFs) and exchange traded commodities (ETCs) available in the UK from companies such as ETF Securities, HSBC, iShares and Vanguard.Both of these new investments will be fully integrated with the existing range of services and will be available in the Isa, Investment Fund Account and the FundsNetwork Pension.Pat Shea, head of FundsNetwork, said: “We have seen demand for investment trusts as well as ETPs grow steadily since the implementation of RDR. Our plan to launch a range of investment trusts and broaden the number of ETPs on FundsNetwork later this year sees us responding to this demand and demonstrates our clear intention to support the evolving needs of advisory firms and their clients.”Ian Sayers, chief executive of the Association of Investment Companies, said: “Since RDR adviser platform purchases have trebled to approximately £600m a year and the number of advisory firms recommending investment companies has more than doubled to over 1,000.”Simon Crinage, head of investment trusts at JP Morgan Asset Management, said: “It’s great to see Fidelity including a range of investment trusts on FundsNetwork and we wish them every success with this move. The more platforms investment trusts are available on, the more choice investors have.”{desktop}{/desktop}{mobile}{/mobile}

FundsNetwork adds investment trusts and pension transfer cashback

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