Standard Life strengthen relationship with Fidelity FundsNetwork

Standard Life today announced an exciting extension to their existing joint initiative with Fidelity FundsNetwork that will see Standard Life International provide a new offshore bond wrapper for the FundsNetwork platform.

This latest development will serve to further strengthen one of the strongest strategic alliances between two major financial services brands in the UK market.

In December 2005 Standard Life Assurance Limited became the sole provider of bespoke SIPP and onshore bond wrappers to the FundsNetwork platform enabling the two companies to work together and individually for the benefit of their customers and financial advisers.

Commenting on the latest development, Trevor Matthews, Chief Executive, Standard Life Assurance Limited said “I am delighted that Standard Life International is working with FundsNetwork, building on our tremendous joint success to date. Our combined skills, in product design and service delivery have built a great proposition in the shape of the new FundsNetwork International Bond.”

Commenting for FundsNetwork, David Dalton-Brown, Head of FundsNetwork said: “Our existing relationship with Standard Life has proved that they provide an industry leading level of customer service and are an extremely effective business partner for us. Standard Life International was therefore the natural choice to assist in the design and delivery of our new offshore bond wrapper.”

In January 2006 Standard Life successfully entered the offshore market for the first time with the launch of their International Bond, through Standard Life International based in Dublin. No longer seen as a niche product, offshore bonds are gaining in popularity as an effective tax planning tool in certain circumstances and as a vehicle to gain exposure to a wider fund selection than is available through traditional, onshore bonds.

This new initiative will see the Standard Life International and FundsNetwork working closely together to deliver added flexibility to tax and financial planning for FundsNetworkcustomers.