Fidelity FundsNetwork is launching a cash account which claims to reward advisers commission at no extra cost to their clients, whilst also paying the highest rate of interest offered by any platform.
To be launched on 1 September, the CashManager Account is billed as enabling advisers to build a closer relationship with their clients, whilst offering the added carrot of commission paid at a standard rate of 0.2pc on any deposits made. Interest is guaranteed at 0.4pc below the Bank of England base rate for deposits up to £14,999 - it is currently at 4.6pc (AER 4.68pc). For balances of £15,000 and above the rate is currently increased to 0.2pc below the base rate for the full investment. David Dalton-Brown, head of FundsNetwork, explained how the initiative will bring an end to advis...
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