Fidelity FundsNetwork is launching a new third party discretionary management service for advisers.
Initially partnering with Vestra Wealth - the first discretionary fund manager (DFM) available on the platform - the service goes live this week and has been launched in response to demand from advisers for DFMs to manage client assets directly on the platform.
"Advisers continue to look for new and innovative ways to support their customers and ensure that their business is ready for change," said head of FundsNetwork David White (pictured).
"In recognition of this, we have decided to launch this new service to enable those advisers who use discretionary managers, to improve efficiency and add value for their clients."
The platform said the number of DFMs available to advisers will be expanded over the coming months.
It added the new DFM offering forms part of its ongoing development aiming to provide advisers with choice over the investment processes they adopt.
JDP Financial Services managing director John Cleverley said: "Discretionary fund management plays an important role in our business and this is a really progressive move by FundsNetwork."
Roll-out of the new service comes as the platform prepares to unveil its new hybrid pricing model over the next few weeks.
For more info on the DFM service click here
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