London, 18 January 2008 –
Fidelity FundsNetwork™ is kicking off the New Year with a landmark special offer on its five-star Defaqto rated
Self Invested Personal Pension (‘SIPP’).
FundsNetwork is waiving all core** plan administration charges for IFAs who make pre-retirement investments into platform mutual funds within the SIPP of £150,000 or more, between Monday 4th February 2008 and Friday 2nd May 2008.*** The SIPP already offers platform funds at NAV terms, with free switching between funds.****
David Dalton-Brown, Head of Fidelity FundsNetwork said: “This is a ground breaking move from FundsNetwork – a SIPP generally available to IFAs which is free from any pension charges for clients in the pre-retirement phases. With the run up to the end of the tax year in sight, this is an outstanding offer. Based on a 25 year plan, these special terms represent a potential cost saving of around £13,000 for the client.” *****
The FundsNetwork SIPP Price Edge
- No set up fees
- No yearly administration charge
- No initial fund charges
- No fund switching charges
- In retirement: administration charges will only apply if drawdown options selected
The FundsNetwork SIPP, rated 5 stars by Defaqto and awarded an ‘FTRC ‘eee’ excellence award, offers unrivalled fund choice of over 1100 funds from 60 providers.
FIL Limited (“FIL”) and its subsidiary companies serve the major markets of the world by providing investment products and services to individuals and institutional investors outside the US. The FIL Organisation manages a total of £151.7 billion of assets.******
Notes to editors:
* Eligible customers for the offer are new SIPP customers submitting applications with a gross value of £150,000 and above, investing in ‘core investments’ (platform mutual funds, Standard Life Policy Funds and the SIPP Bank Account). As and when customers invest in non-core investments, normal charges will apply.
** Core administration charges mean initial set-up charge and yearly administration charge. It does not include any in-retirement administration charges such as income drawdown.
*** The offer runs from 4th February 2008 to 2nd May 2008 although FundsNetwork reserves the right to withdraw the offer at any time.
**** On some types of investment, there may be an additional bid-offer spread to pay
***** Calculations based on a lump sum investment of £150,000 over a 25 year term with charges being saved assumed to remain as £260 pa in arrears throughout, with a one-off £104 set up fee at outset. A growth rate of 5% net of other charges e.g. fund expenses. Charges saved = £12,761
****** Source: Fidelity as at 31.12.07
FundsNetwork, Fidelity’s fund platform, was launched in June 2000. It offers advisers and their clients the ability to invest, manage and monitor their investments in one place, bringing them control, efficiency and new business opportunities. The FundsNetwork service is offered and managed by Financial Administration Services Limited. FundsNetworkTM is a trademark of FIL Limited. The FundsNetwork SIPP is provided and administered by Standard Life Assurance Limited Financial Administration Services Limited (a Fidelity group company) is registered in England and Wales (no 1629709) Registered office Oakhill House, 130 Tonbridge Road, Hildenborough, Tonbridge, Kent, TN11 9DZ. Standard Life Assurance Limited is registered in Scotland (SC286833) Standard Life House, 30 Lothian Road, Edinburgh, EH1 2DH. Both companies are authorised and regulated by the Financial Services Authority. Calls may be recorded and monitored to help improve customer service. Any opinions expressed are made at the time of writing and can be subject to change without notification. The value of investments and the income from them can go down as well as up and an investor may not get back the original amount invested. Investors should also note that the views expressed may no longer be current and may have already been acted upon by Fidelity. Assets as at 31.12.07 are those of FIL.
