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Fidelity warns DC schemes on platform choice

Fidelity is warning compan- ies that they should not be seduced by platforms offering wide fund choices for their defined-contribution pension schemes because the quality of choice is more important.

Executive director of DC business development Julian Webb says there is a big difference between platforms that offer a broad range of funds and those that can package different styles of funds into tailored portfolios. He says a tailored portfolio will typically comprise between three and six funds invested in different asset classes which are created in consultation with the client and adviser in line with their pension scheme objectives.

He says another important differentiator is between platforms that offer a mixture of retail and institutional funds and those that do not.

Webb says: “We saw demand for tailored portfolios quadruple last year.

“Their development and popularity will be a big part of the future of DC pensions. They enable those advising corporate pension schemes to play to their strengths, combining funds in line with a scheme’s objectives.”


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