Fidelity International sets up IFA referral process for savers with complex pension needs

Direct arm to refer clients to local advisers for pension planning advice Five IFA firms in the client's area to be drawn from Fidelity FundsNetwork user-base

Fidelity International today announces that its direct business will refer to IFAs any clients who are interested in investing in its new Personal Pension whenever their needs are sufficiently complex to require advice.

The Personal Pension from Fidelity is a low-cost pension (a version of the FundsNetwork SIPP provided by Standard Life).

Fidelity's new plan will accept new investments and transfers from other personal pensions and SIPPs into the range of mutual funds available via Fidelity FundsNetwork.

The Fidelity Personal Pension is intended to compete with other similar execution-only offerings in the market.

Investors with more complex needs and those who are not comfortable with making their own decisions will not be eligible for the execution-only Personal Pension and will be referred to local financial advisers.

Those needs include: Transfers from employer-sponsored pension schemes Drawdown Non-mutual fund investments through the SIPP Richard Wastcoat, UK Managing Director at Fidelity International, comments: "There is a group of investors who want to look after their own retirement planning and investment portfolios.

Our direct business caters for their needs.

But we also recognise that many - if not most - investors do require advice at times, particularly in the complex field of pension transfers.

"This is exactly why we have established this IFA referral process.

Hopefully, together we can raise the overall amount that individuals set aside for retirement by ensuring that those who need advice receive it, while also providing a service for the self-directed investor." Fidelity International 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 £145.0 billion of assets*.

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