Standard & Poor's Fund Services is offering its fund research and monthly executive summary service to IFAs free of charge.
A copy of the Fund Management Rating Research normally costs £7,000 a year, which has been prohibitive to some smaller IFAs. But now, IFAs will only pay the postage price of the information.
The news comes as S&P extends its ratings service to include index-tracker funds. In its first report, 20 funds were rated, of which six received AAA ratings and 10 AA ratings. The remainder were awarded A ratings.
S&P UK sales director Chris Butterwick says: “We have progressively reduced the cost of accessing our research so it can be made available to a wider audience who can now use it at nil cost.”
Simpsons partner Andrew Merricks says: “We have not subscribed to S&P's fund research rating until now. It was a ridiculous amount of money for something that is quite subjective.”