Fidelity FundsNetwork has revealed details of its unbundled pricing model which will see a flat rate charge of 0.25 per cent alongside a £45 annual account fee.
The unbundled pricing model has launched today and will run alongside its bundled charging structure.
The 0.25 per cent annual charge will be taken monthly from the largest fund held by the client at collection.
There will be no switching charges for those who decide to adopt the £45 account fee, which is optional until next January, but switching charges will apply for those who do not.
Fidelity says a range of physically-backed ETFs will launch on the platform this quarter.
Head of FundsNetwork David White (pictured) says: “Advisers have consistently told us that they want clarity and simplicity, and not more complexity when it comes to pricing. We have listened and strived to build our unbundled pricing model to meet that need.”
In August, FundsNetwork revealed details of the fees it takes from fund management groups for its bundled proposition, showing a 0.25 per cent charge taken from the majority of funds, rising to 0.5 per cent on a few occasions.
Cofunds is due to launch its unbundled pricing model in July which will be made up of a £40 annual charge and a sliding scale of annual management charges from 0.29 per cent to 0.15 per cent.
Skandia plans to launch its unbundled pricing model in Q4.