Fidelity FundsNetwork has become the first supermarket to launch an unbundled pricing model.
The unbundled model, which sits alongside its existing bundled option, is priced with a flat rate of 0.25% platform fee and an annual £45 account fee which is optional until 2013.
Last September, platform rival Cofunds unveiled the pricing structure of its unbundled charging model which is set for launch in the middle of this year. It included a £40 annual charge and a sliding scale platform fee ranging from 0.29% to 0.15%.
But FundsNetwork has stolen a lead on its rival, becoming the first fund supermarket to launch an unbundled model.
The platform can now accept unbundled share classes and has plans to add new unbundled funds, including a range of physically-backed exchange traded products in Q2 2012.
Advised clients opting in to the account fee and accessing unbundled funds will not pay initial or switching fees.
Last September, Cofunds requested fund managers issue clean share classes as it announced the pricing structure of its soon-to-launch unbundled model.
FundsNetwork said simplicity and transparency are central planks of its unbundled model.
"Advisers have consistently told us that they want clarity and simplicity...when it comes to pricing," said head of FundsNetwork David White (pictured).
"We have listened and strived to build our unbundled pricing model to meet that need."
He added: "It is clearly not for us to say whether an adviser should adopt a bundled or unbundled fund - that is their decision - and so it has always been important for us to offer both pricing options."
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