Fidelity builds Sipp with GBST to replace Standard

Fidelity is building a Sipp with technology provider GBST, which will replace the Standard Life wrapper on its FundsNetwork platform, New Model Adviser® understands.

The Sipp development follows the deal between Fidelity and GBST, announced earlier this year, which involves the Australian technology group providing administration and registration services for Fidelity’s UK business.

Standard Life has been the sole provider of Sipp and onshore bond wrappers on FundsNetwork since 2009.

Both Fidelity and GBST declined to comment on the plans.

A Standard Life spokeswoman declined to comment but added: ‘The Standard Life Sipp continues to be made available on the Fidelity platform.’