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The late dictators

First and foremost, we are a firm of financial planners, not a manager of funds or experts in asset custody, investment dealing or investment administration.

From day one at Fidelius, we have been striving continually to improve the level of service our clients receive. An integral part of our service proposition is to deliver optimum investment performance. We have developed sophisticated systems and processes that combine asset and sector allocation techniques, based on our own in-house views on market sentiment.

Following extensive research into the products and services on offer from traditional providers, it became apparent to us that advisers have historically been dictated to by the big insurers in the way that we conduct our client relationships. They have controlled the product, the charges and managed the relationship with the fund manager.

We fully expect this process to continue further and that insurers will start focusing their attentions directly on the client, potentially encouraging the client to bypass the adviser in favour of direct or tied advice.

As an industry, we need to change from a transactional commission-based model to one driven by transparency and service. To deliver this, we need a sophisticated web-enabled management system.

The choice of Nucleus as our strategic partner was therefore an easy one to make. It is transparent, independent, innovative and IFA-focused. As a result of these features, the Nucleus wrap allows the adviser and client to have transparent, professional conversations over appropriate charges and service standards.

An extensive range of fund management groups is complemented by an appropriate range of tax wrappers, none of which are influenced by external masters. Nucleus chief executive David Ferguson is as fiercely independent as we are. The decision to allow participating IFAs to influence the development of the wrap can only mean that the solution will remain independent and competitive.

True bulk switching facilities and rebalancing will soon be available. These are essential services for portfolio management. Add these to a simple quotation system, excellent fund information and administration as well as low charges and you will be close to the complete wrap.

For those IFAs who are happy with the old transactional model, we look forward to speaking to your clients soon.

Alan Phillips is managing director of Fidelius


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