Fidelity FundsNetwork will roll out its Retail Distribution Review (RDR) ready adviser fees service on 8 October, facilitating ongoing, initial and specified fees.
The 'Adviser Fees' service will allow intermediaries to set different fee levels for different client accounts, with payments coming through on a monthly basis. Advisers will also have a choice over which client investments move to a fee basis. Under the new service, fees can be taken via unit deduction or via a cash account, while online services can be used to set up or amend fee agreements Paul Richards, deputy head of FundsNetwork, said: "After engaging with advisers to find out what they would want from a fee facility, we believe that the FundsNetwork Adviser Fees service enco...
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