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Fidelity fund supermart shelves will lack big names wary of IFA reaction

Fidelity&#39s fund supermarket is set to go live without some of the major

fund management companies yet on board.

Insiders say many high-profile names have not yet signed because they are

concerned that linking up with Fidelity will damage their relationship with


It is understood that several major investment houses, including Gartmore,

Threadneedle, M&G and Schroder, have yet to sign up to the venture which is

being launched in June.

They fear that their relationships with intermediaries could suffer

because Fidelity will hold all customer records and will be able to provide

IFAs with all the information they need.

Fidelity now has a fight on its hands to convince groups to join up for

its service, which will offer investors the choice of going through an IFA

or doing it themselves via an execution-only service.

It will pay IFAs commission levels matching the rates of traditional

channels and is to offer more than 300 funds from 12 major groups.

A fund industry insider says: “It could be like putting your head in the

mouth of a lion and it will either bite your head off or you will emerge

unscathed. We are very concerned.”

Fidelity executive director Robin Threadgold says: “We are keen to attract

the major Isa players and they will add value to the service. We aim to

have 12 providers for the first phase and we are confident that this will

be achieved.”


Interactive Investor in £2m brand boost

Interactive Investor International is running a £2m consumer advertisingcampaign which its says complements professional advice.The campaign will run for a month, predominantly in the South-east,starting from this month.It consists of a brand-building poster campaign in London Undergroundstations plus a more widespread poster campaign focusing on the productareas of pensions, mortgages, insurance and online share dealing.There […]

Five more watchdogs for Insurance Ombudsman

The Insurance Ombudsman Bureau has appointed five ombudsmen to supportprincipal ombudsman Tony Boorman.The appointments precede the transition of the IOB and the other fiveombudsmen schemes to the single Financial Ombudsman Service. This is due tohappen during the latter part of 2000 following the implementation of theFinancial Services and Markets Bill.The associate ombudsman is Peter Hart. […]

IFAs claim ….

IFAs claim they are baffled by the trendy, management-speak job titlesadopted by Royal & Sun Alliance.Where once you had an IFA pensions marketing manager, the life office nowboasts an asset accumulation leader. The market manager for pensions hasbecome asset release leader and the post of savings and investment marketmanager has been renamed IFA personal market […]

NU reveals planning gap

Norwich Union is warning company owners and directors they could be losingout if they continue to keep their pension and business planning separate.Research from NU shows that while the majority of owners and directors ofsmall to medium-sized companies have made provision for their retirement,only 1 per cent have done so through a director pension arrangement.NU […]

Iain Chadwick

The Budget 2015: a brief overview

Following George Osborne’s delivery of his sixth Budget as chancellor and the last of this current parliament, we have provided a brief overview of the initiatives put forward in his statement, focusing on the topics that have an impact upon the pensions landscape, savings, personal taxation and businesses.


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