Fidelity International’s investment platform, Fundsnetwork, has expanded its range to include UK equities, leaving Old Mutual Wealth as one of the few adviser platforms not offering stocks to clients.
Fundsnetwork will offer FTSE 100, FTSE 250, FTSE All-share and FTSE Aim 100 stocks. It will also offer some shares from the Irish stock exchange ISEQ 20.
Stocks and shares are available within Isas and investment accounts on the platform and can be traded as part of a regular savings plan (RSP), a lump sum investment, a switch and when rebalancing model portfolios.
Andrew Ashwood, analyst at Platforum, said the move brings Fundsnetwork in line with the rest of the market.
“All major adviser platforms, with the exception of Old Mutual Wealth, offer access to listed securities including equities, ETFs and investment trusts,” Ashwood said.
An Old Mutual Wealth spokesperson said the business is planning to expand its proposition as part of its re-platforming including access to ETFs and investment trusts
Limited take up of direct equity holdings
Ashwood said Platforum research suggests that very few advisers are including direct equities within model portfolios, although a handful more are using investment trusts and ETFs.
“The increased investment choice coupled with lowered transaction charges will come as welcome news for Fundsnetwork users who are already recommending – or looking to recommend – listed securities to clients on the platform.”
All of the wrap platforms can trade securities, such as Transact, 7IM, Ascentric, Nucleus, Novia, as well as the hybrids such as Standard and Elevate, according to CWC Research managing director Clive Waller.
Meanwhile, Fundsnetwork said it also changed the previous charging structure of 0.1% for transactions on investment trusts and exchange-traded products with a new cost of £3 per trade, with switches being capped at £1.50 per transaction.
Tech systems help drive change
The latest enhancement builds on Fundsnetwork’s decision to expand the range of investment trusts and ETFs from a few years ago, said Jackie Boylan (pictured), head of advisory services.
Boylan, who was appointed in September to replace Pat Shea, said there are now over 4,300 investment options on the platform.
She said Fundsnetwork will also launch the ability to hold individual equities in the Fundsnetwork Pension in the near future.
Ashwood noted Fundsnetwork has been making many changes over the last few years as it has transitioned from its proprietary technology system to a Bravura-powered solution.
“Opening up the adviser platform’s investment universe to include UK-listed equities has long been on the roadmap, following on from the introduction of the brokerage service on its D2C sister platform, Fidelity Personal Investing, earlier this year,” he said.
