FundsNetwork is offering a series of packaged Isas.
All seven packages, called either core or themed, consist of four or five funds chosen from the platform.
The core range comprises three offerings – cautious, balanced and growth, with the cautious series consisting of corporate bond and equity income funds. The growth package delves into higher-risk funds such as JPM emerging markets and Aberdeen Asia Pacific and Japan funds.
The themed choices are property, Asia, Bric and ethical packages, all of which have been designed for advisers who want to place their clients in these specialist sectors but are not certain which ones to choose.
Fidelity head of IFA channel Peter Hicks says: “These choi-ces are purely done through FundsNetwork’s own quantitative and qualitative selection process to justify why each fund has been chosen for that package. All have then gone through compliance before they were packaged.”
Hick says the service draws no comparison with a multi-manager model.
He says: “Multi-manager is as it sounds, a managed service, where you can actively change the allocation. This is a packaged solution offering exposure to a series of funds as an Isa offering.”
BestInvest director Dominic Cummings says: “Advisers should have the knowledge to do something of this ilk. However, many of them do not have the research capabilities to look into the whole fund universe to form their own customised solutions so this is a viable option, particularly for smaller IFA firms. However, despite all the research the platform has done, the fact that the packages are not actively managed leaves them more exposed to market fluctuations.”
Pricing and commission on the packages reflects all provider terms and discounts in the Isa season. The group has also set up its online service, Isazone, which is now available to advisers.