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Fidelity transfers 40,000 clients to fundsnetwork

Fidelity has completed the transfer of 40,000 customers on to FundsNetwork following its purchase of Egg’s investment business. The group says this is the biggest migration of supermarket clients.

Egg customers will have full access to all funds available on FundsNetwork and can view their fund balances online through Egg’s aggregation service Egg Money Manager.

Research by Fidelity shows that four out of 10 investors could not place an accurate value on their portfolio to the nearest 500.

FundsNetwork has sold more than 3.4bn in funds since its launch in 2000, offering investors a choice of over 900 funds from 54 fund firms.

Fidelity managing director Richard Wastcoat says: “Egg customers should see the benefits immediately because FundsNetwork offers a far broader range of providers, funds and planning tools.”


GMAC-RFC launches its new mortgage range

GMAC Residential Funding is launching a new range of non-conforming mortgage products.The company is cutting the rates of its non-conforming range by up to 1.25 per cent. GMAC has also increased its maximum loan size and LTV on fixed and discounted boxed options and added a range of full term base-rate linked trackers at mainstream […]

Standard policyholder wants board seat

Standard Life policyholder and former investment banker Michael Hogan is attempting to gain a berth on the life assurer’s board through a one-man internet campaign. Hogan wants policyholder representation on the Standard board and needs the backing of 250 fellow policyholders to be able to stand for election at the life office’s August AGM.

That’ll be the data

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