FundsNetwork has announced a range of 50 exchange traded funds (ETFs) will launch on the platform for advisers next week.
The platform is launching an initial range of 50 physically-backed ETFs, including index-linked trackers and commodity ETFs, on Monday, 18 June, from the following providers: Credit Suisse, ETF Securities, HSBC and iShares.
ETF trading on the platform will be carried out using J.P. Morgan's execution service. Advisers will also have access to an ETF information page.
The addition of ETFs with a separate explicit charge on FundsNetwork comes on the back of the platform launching an unbundled pricing model at the end of March, sitting alongside its bundled pricing structure. ETFs are unbundled funds which do not pay fund manager rebates.
FundsNetwork's unbundled model is priced with a flat rate 0.25% platform fee and an annual £45 account fee which is optional until 2013.
"When we launched our unbundled pricing capability in Q1 we committed to delivering the first range of ETF investments in Q2," said head of FundsNetwork David White (pictured).
"Advisers told us physically-backed ETFs were their preference and so we have selected four leading providers in this space, providing access to a broad range of market indices and commodities."
White said the platform will add a "steady stream" of more ETFs over the year.
He added adviser fee and multi-share class functionality will launch in Q3.
Meanwhile, the platform is looking to launch investment trusts by the end of the year.
Bought plans in 1988 and 1989
To be added to model portfolio service
Launched 25 September