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Scot Wids announces FundsNetwork deal

Scottish Widows have announced a deal with Fidelity FundsNetwork in a shift to a full open-architecture approach for its new Retirement Account.
Scottish Widows customers and their advisers will have access to the platform’s choice of over 1000 funds through the new product from January next year.
The provider says the offering is part of a wider strategy to offer full open-architecture solutions in the investment and retirement markets.
Further moves for an open architecture proposition in other business lines such as investment bonds are planned next year.
Scot Wids managing director of marketing and distribution Nathan Moss says: “The link-up with FundsNetwork is an exciting new alliance, enabling us to provide our customers with increased investment choice. More than that, it represents a significant strategic shift as we respond to the evolving needs of customers and advisers.
Scottish Widows is a market-leader in retirement and, coupled with Fidelity FundsNetwork’s proven technology and expertise, this will provide a compelling combination for advisers and customers alike.”

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