Monday, 22 July 2013 09:50
FundsNetwork to launch new pension in September
FundsNetwork is to launch a 'clean' simple pension for advisers from September.
The FundsNetwork Pension will offer advisers more than 1,700 unbundled share classes.
It will have an annual £45 platform fee and 25bps service fee but no set-up or annual administration fee.
Pat Shea, head of FundsNetwork, said: "The launch of the FundNetwork Pension has been eagerly anticipated by advisers that use the platform and we're on track to launch in September.
"The FundsNetwork Pension is just one part of our multi-year investment programme into the service we can offer advisers and we look forward to announcing future plans as soon as we can."
The move was praised by Mark Polson, founder of consultancy the lang cat, who said it was a "welcome development".
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He said: "A properly integrated pension wrapper, ideally at no additional cost, is of huge benefit to any platform provider looking to provide advisers with a broad palette of options which they can use to create their own proposition.
"This is a welcome development by FundsNetwork; it's integrated nature and keen pricing will, we're sure, generate significant interest from advisers."
The firm said it would be running events nationwide to explain more about the FundsNetwork Pension and times and locations would be arranged in due course.
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The FundsNetwork Pension will offer advisers more than 1,700 unbundled share classes.
It will have an annual £45 platform fee and 25bps service fee but no set-up or annual administration fee.
Pat Shea, head of FundsNetwork, said: "The launch of the FundNetwork Pension has been eagerly anticipated by advisers that use the platform and we're on track to launch in September.
"The FundsNetwork Pension is just one part of our multi-year investment programme into the service we can offer advisers and we look forward to announcing future plans as soon as we can."
The move was praised by Mark Polson, founder of consultancy the lang cat, who said it was a "welcome development".
{desktop}{/desktop}{mobile}{/mobile}
He said: "A properly integrated pension wrapper, ideally at no additional cost, is of huge benefit to any platform provider looking to provide advisers with a broad palette of options which they can use to create their own proposition.
"This is a welcome development by FundsNetwork; it's integrated nature and keen pricing will, we're sure, generate significant interest from advisers."
The firm said it would be running events nationwide to explain more about the FundsNetwork Pension and times and locations would be arranged in due course.
• Want to receive a free weekly summary of the best news stories from our website? Just go to home page and submit your name and email address. If you are already logged in you will need to log out to see the e-newsletter sign up. You can then log in again.
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