Fidelity FundsNetwork has celebrated its fifth anniversary by outlining a wrap proposition and forecasting its supermarket position in the next five-year period.
Advisers are already being approached through a 10-week re-registration campaign to move clients onto the FundsNetwork platform - offering £50 to re-register clients with £5,000 or more, with investors receiving a £25 payment. Announced last week, the re-registration process is seen as a precursor to launching the wrap.
David Dalton-Brown, head of FundsNetwork, has now announced inside the wrap an adviser will be allowed to include funds, an onshore bond, a Sipp, Peps and Isas. Newer elements such as the Sipp are expected to be in place by year-end.
More portfolio planning tools will be added to the platform this year too.
Looking further into the future, FundsNetwork also sees its sector consolidating as it has done in the US market.
Over in the States, Fidelity and Charles Schwab control most of the funds supermarket sector between them, and it is likely the UK market too will end up with a couple of main players by the end of the decade, claims Dalton-Brown.
Currently, FundsNetwork offers about 900 funds from 54 asset managers.
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