Fidelity's direct arm will refer its new Personal Pension clients to local IFAs when their needs are complex enough to require advice, the group announced today.
Clients will be given a list of five IFA firms in their area drawn from Fidelity FundsNetwork’s user base. The Personal Pension from Fidelity is a low-cost pension (a version of the FundsNetwork SIPP provided by Standard Life) which is intended to compete with similar execution-only offerings. It will accept new investments and transfers from other personal pensions and SIPPs into the range of mutual funds available via Fidelity FundsNetwork. However, investors with more complex needs and those who are not comfortable with making their own decisions will not be eligible for the Personal ...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
