Fidelity is launching an optional Adviser On-going Fee service in line with the RDR's proposal to move to a fee-based model with customer agreed remuneration.
Advisers will agree with the client an on-going fee which can cover selected products or their entire portfolio, This will be instead of their remuneration being driven by the level of on-going commission from each fund. Fidelity's new service will be fully launched by the end of this year with ISAs and collectives the initial products included. The service will not replace or change any commission structures already set up should the adviser not want to use the Adviser On-going Fee. Peter Hicks, head of UK retail sales at Fidelity International, comments: "The Adviser On-going Fee s...
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