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Fidelity plans £250m platform spend and courts fund groups
by Jun Merrett on Oct 10, 2013 at 10:22
Fidelity is to spend £250 million on its UK platform business as part of a five-year development plan.
The plan includes the Access programme, which will provide fund groups with marketing services, including involvement in Fidelity's 120 to 130 events next year, as well as direct marketing to customers, including advisers using its FundsNetwork platform.
Fidelity is looking to spend £15 million next year on promotional activities that fund groups would be given access to as part of the programme.
Fidelity is aiming to make the service free of charge for fund groups but expects to receive the best discounts in return.
Last night Fidelity held a meeting with fund managers to explain the programme and said it had already received commitments from six fund groups.
Ed Dymott (pictured), head of business development and strategy at Fidelity Worldwide Investment, said: 'We are launching a new partnership programme called 'Access' which gives enhanced services to fund managers, greater access to customers, senior staff, sales people and business teams at Fidelity. It is a new way of working with the fund manager.'
Dymott said that the Access programme will not turn into a restricted proposition and the company will maintain an open architecture structure on its FundsNetwork platform.
'We are very certain we want to maintain an open architecture structure and not won't restrict choice to products. We do have a guided list of 100 funds called 'Select' but it has no commercial bias and that is an independent and separate process to Access.'
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