View more on these topics

IFDL plans sale of its Fundsdirect D2C arm

MS Awards 2010

Ascentric’s white-label service Independent Funds Direct Limited has put its direct-to-consumer business Fundsdirect up for sale.

The Royal London-owned firm this week confirmed the direct fund supermarket business is not part of its ongoing strategy. 

It says the move will eliminate any conflicts of interest with its adviser-facing business. Fundsdirect launched in 1999 and has £23m of assets under administration and around 2,000 customers.

IFDL managing director Hugo Thorman says: “Fundsdirect participates in the D2C market, which is expected to benefit hugely from the RDR, but it is ultimately at odds with our ongoing strategy which is to focus on intermediaries. We would expect to continue to administer the assets and products for the new owner.”

IFDL’s white-label service, which provides platform technology to a number of advisory firms including Succession, Towergate and Openwork, will be unaffected by the move. IFDL will launch a service allowing advisory businesses to white-label the platform and offer their own non-advised proposition before the end of the year.

Murphy Financial associate partner Adrian Murphy says: “The fact there is such a low level of assets on the platform may make it difficult to attract a buyer.”


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm