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Supermarkets move ahead with plans for unbundling

Skandia, Fidelity FundsNetwork and Cofunds have all committed to launching an unbundled charging structure following the publication of the FSA’s platform consultation paper.

The fund supermarkets had been delaying their development of unbundled models until the FSA specified what their proposed rule changes were on platform remuneration.

Following the paper’s publication last week, all three now say they will continue with their unbundled plans.

Skandia UK chief executive Peter Mann says: “We intend to continue with our proposal to introduce a fully transparent unbundled charging structure, under which we will pass on rebates to the customer, in advance of December 31, 2012. We will continue to operate our current bundled proposition in parallel.”

Fidelity Investment Managers head of UK fund partners Ed Dymott says: “Now we have got clarity on the FSA’s intentions on platform remuneration, we can confirm that we will launch an unbundled pricing model next year, which will also enable us to roll out exchange traded funds to the marketplace.”

Cofunds sales and marketing director Alastair Conway says: “We remain committed to delivering an unbundled pricing solution to complement our existing bundled offering, together with the extension of asset types that advisers have asked for.”

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