View more on these topics

Fidelity and Henderson join Selestia with better deal

Fidelity and Henderson became the latest providers to sign up to Selestia this week as the platform agreed to improve its terms.

The two fund firms had opted not to sign up to Selestia at launch as they were unhappy with the charging structure. Those providers which initially joined the platform get no front-end charge and only 50 per cent of the annual fee on all business received through Selestia.

The move is expected to spark a further round of charge negotiations for Selestia as the existing providers ensure they are getting the best rates.

Schroders director Robin Stoakley says: “It is always irksome when you discover other groups are getting better terms than you might. But we have agreements with all our fund supermarkets that if one group gets better terms than us we have the right to renegotiate.”

Selestia director Bill Vasilieff says: “So far what we have done has been well received. We have not had a lot of negativity about the selection of fund managers available but obviously we are keen to ext- end our choice.”

Fidelity marketing director David Cowdell says: “Fidelity only participates in those platforms we believe will be successful. Selestia&#39s supermarket functionality is well regarded by IFAs and we hope the addition of Fidelity&#39s funds will further streng-then the proposition.”

Henderson head of UK retail Simon Ellis says: “In response to their revised pricing proposition, we are happy to go in.”

Recommended

Scottish Friendly secures growth

SCOTTISH FRIENDLY ASSURANCE GROWTH & SECURITY BOND Type: With-profits bond. Aim: Growth. Minimum investment: Lump sum £3,000. Bonus rate: 5.25 per cent. Allocation rates: £3,000 – £9,999 95 per cent, £10,000 and above 96 per cent. Charges: Implicit. Options: 2.5 per cent bonus on 10th anniversary. Commission: Initial 5.25 per cent. Tel: 0800 834428. The […]

Norwich & Peterborough fixed Spanish mortgage

Norwich & Peterborough fixed rate on Spanish properties Type: Fixed rate, for Spanish propertiesRate: 5.04 per cent for two years, 5.99 per cent for five yearsUnderlying rate: Income multiples: Three times single applicant salary; three times main salary plus second applicant’s salary; two times joint salaryMinimum loan: £40,000Maximum loan: Negotiable, repayable over 20 yearsConditions: Mortgage […]

The choice facing the networks

Will depolarisation kill networks? This is going to be one murder investigation that is not going to be too hard to solve.The simple fact of the current market is that the network sector relies on commission override. There are some operations that are fixed-fee operations but still very few.The clear steer on which way networks […]

MGM Assurance – Capital Investment Bond

Monday, February 11, 2002.Type: Unit-linked bond.Aim: Income and growth by investing in up to 12 funds.Minimum investment: Lump sum £7,500.Fund links: Bonus growth, deposit, European, fixed interest,international equity, Lazards managed, managed, North American,Pacific Basin, property, special situations, UK equity.Allocation rates: Clients up to age 75, £7,500-£14,999 – 101 per cent,£15,000-£29,999 – 103 per cent, £30,000-£39,999 […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment