Fedsure Investment Products Services (FIPS) will launch the pilot of its IFA unit trust dealing serv...
Fedsure Investment Products Services (FIPS) will launch the pilot of its IFA unit trust dealing service in November with the full service available in February next year
As revealed by Investment Week last month, the South African group plans to offer IFAs access to a funds supermarket that will feature front end loaded funds with the commission passed on to the IFA
The group has received interest from more than 70 investment management houses to allow their funds to be accessed through the dealing service and while initially the service will feature only mainstream unit trusts it will eventually add in Oeics and investment trusts
The service will allow IFAs to enter client details to help them find the fund they are searching for and then buy or sell units. It will then group all intermediary orders and make bulk purchases of a group's fund. In the beginning it will be a lump sum investment portfolio service, after which the group will allow switches between the various funds. All the relevant administration, including settlement and commission details, will be done by FIPS as part of the service
To promote 'long-term investment'
Switching 'hard and expensive'
Smaller funds still packing a punch
To drive progress