FundsNetwork will offer advisers a clean only platform – FundsNetwork Pension – for all new business through ISAs and unwrapped investments, with effect from 9 December.
FundsNetwork Pension will remain competitively priced with an annual £45 investor fee and 0.25% service charge with no initial or switch charges to pay.
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According to Fidelity, the new charging structure will not come into force until a new fund is purchased or existing assets are disturbed.
FundsNetwork has also confirmed that it has no plans to turn off trail commission ahead of the April 2016 deadline. However, it will continue to see an increasing number of advisers make the transition to fees and clean share classes, supporting the move to the clean pricing model across the platform.
Pat Shea, head of FundsNetwork, said: "With more than 1,800 clean share classes on the platform and advisers making the move to fees, it feels like the right time to make this move into the clean-only world. Whilst bundled funds will remain on the platform until 2016, it makes sense to start 2014 afresh offering clean-only funds for new investments.
"We have chosen not to turn off trail commission ahead of 2016 as we believe it is up to advisers and their clients to initiate this at a time appropriate for them. However, we are working with advisers on how best we can assist them in moving undisturbed assets to clean funds ahead of the deadline and will communicate this in due course," Shea added.
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