Switches can be made between funds and to the online cash account at no extra cost and there is no need for a wet signature, which cuts out paper work, reduces errors and processes switches more quickly.
FundsNetwork has also upgraded its Morningstar x-ray service to include more detailed portfolio information and flexible statement options.
Fidelity FundsNetwork head of sales and marketing Rob Fisher says: “We are continually looking to improve the various services and wrappers we offer. Providing free online switching in the SIPP, onshore and international bond cuts out paper work, reduces errors and generally just makes the whole process much quicker. All three wrappers are proving to be highly popular and many advisers will find this new enhancement makes a real difference to day-to-day management of them.
“The Morningstar x-ray service has always been very popular with advisers. The new functionality will make a big impact on the day to day work of advisers, particularly because it is their feedback and suggestions which have driven the changes – the service is now even more attuned to their needs.”