platform consists of 1,400 funds from 80 different providers
The Fundsdirect Ascentric wrap platform will be rolled out to the whole of the market by the end of May, following the successful soft launch of the group's platform.
The wrap platform will be available in Scottish Equitable International (SEI), Axa International and Friends Provident International (FPI) offshore bond ranges.
It consists of 1,400 funds from 80 different fund groups and its offshore bonds will be a mix of cash and collective products.
A charge of 25 basis points for the wrap will be levied to clients, however, this could be reduced as rebates are given by fund managers on fees.
Ascentric is also in talks with other offshore life groups to use the platform.
A charge of £12.50 will be added for all electronic transactions, while £20 will be charged for non-electronic transactions.
Switches between portfolios run by the same fund group are free, but any switches to different groups will be classed as a buy and sell.
A £25 fee will also be charged for an electronic switch between management groups, compared to £40 for non-electronic dealings.
Hugo Thorman, managing director at Fundsdirect Ascentric, said it planned to have £5bn of funds under management in five years.
He said intermediaries introducing clients to the wrap service would receive shares in the company, which would be a percentage of the total number of assets they have at the time.
Currently, Ascentric has six intermediaries using its wrap service, but Thorman said plans were underway to roll it out to the whole of the market in May.
The six intermediaries are Money Wise Independent Financial Advisers, Kings Court Financial Planning, Grosvenor Consultancy Limited, Vintage Financial, Cartlidge Morland and Calkin Pattinson.
Thorman added: "The principle of the founding intermediaries was to have a choice on there and to be independent of any life company or product provider."
SEI, FPI and Axa to offer Fundsdirect Ascentric wrap platform in offshore bonds
Platform consists of 1,400 from 80 different fund groups
Intermediaries will receive shares in company for introducing clients
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