Fidelity FundsNetwork will begin facilitating adviser charging from 8 October.
The ‘adviser fees’ service will facilitate different fee options including initial, ongoing and specified fees for advisers based on individual client agreements.
It will allow monthly payments of fees to advisers, who can choose which client investments will move to a fee basis.
The service will allow fees to be taken via a unit deduction or cash account and advisers will be able to continue receiving ongoing commission on legacy assets where permitted.
Advisers will be able to set up or amend fee agreements online.
FundsNetwork deputy head Paul Richards says: “Advisers have a range of options from different payment methods to setting different fee levels or maintaining commission on existing legacy assets.
“This new service has been designed to cater for business pre and post-RDR in one streamlined solution.”