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Interalliance service fights supermarkets

National IFA Interalliance is planning to pitch itself against Fidelity&#39s fund supermar-ket FundsNetwork by offering customers a new inv-estment service through its own website.

The service, called mynet worth, is available through Interalliance&#39s Isa Centre.

Investors can calculate their total investments and play with a virtual portfolio before they commit to the real thing.

Interalliance chief executive Stuart McGreevy says the service will rival Fidelity and means the Fidelity wrapper, which allows IFAs to market the fund supermarket under their own name, is “not needed any more”.

Interalliance has raised £17m with a share issue to develop its e-business strategy and the Indigo product – software for small and medium-sized businesses being developed by subsidiary Intelliflo.

The company will use the bulk of the issue to set up an IFA on interactive TV as part of its plans to establish a multi-platform capability using the internet, interactive TV and wireless technology.

Other e-commerce initiatives include the group&#39s online and general insurance marketplace. Further plans to be offered include offshore funds, stakeholder pensions, annuities, term insurance and traded endowments.

McGreevy says: “Our integrated business strategy is proving to be successful and trading remains strong.

“The placing will allow us to further develop the strat-egy and to exploit identified opportunities such as interactive TV and m-commerce.

“We intend to optimise the strategic position of Intelliflo and are considering the possibility of a demerger at the appropriate time.”

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