Fidelity awarded triple ‘e’ rating for SIPP & drawdown excellence

Fidelity FundsNetwork has been awarded two separate triple ‘e’ ratings from the Financial Technology and Research Centre (FTRC) for the FundsNetwork SIPP and Drawdown Excellence.

The e-excellence awards are held annually and have fast become the dominant market survey on providers’ e-commerce propositions. In 2006, FundsNetwork was awarded an ‘ee+’ rating for the SIPP category and this year, FundsNetwork has received triple ‘e’ ratings for the SIPP and in the new Drawdown (secure income) category.

The new ratings from FTRC teamed with the five star rating FundsNetwork was awarded earlier in the year from Defaqto, which focuses on product terms, demonstrates that FundsNetwork is among the market leaders for personal pensions.

FTRC director, Ian McKenna comments: “At a time when adviser remuneration is under unprecedented scrutiny it is essential that SIPP providers deliver detailed e-commerce functionality to enable advisers to service these complex products cost effectively. It is a testament to FundsNetwork’s commitment to the adviser market that they are one of only two providers to achieve the “eee” rating for these products. We believe advisers should seriously consider e-commerce performance when selecting strategic business partners; providers’ failing to deliver in this important area are effectively asking the adviser to subsidise their own inefficiency.”

Rob Fisher, Head of Sales & Marketing, FundsNetwork, comments: “We are delighted to have been awarded triple ‘e’ ratings in the SIPP and Drawdown categories. FundsNetwork strives to offer competitive products to suit all customers’ needs. To be awarded two ratings for our SIPP is particularly pleasing since we designed it with the intention of helping our clients to save the best way they can for retirement.

“To receive three separate ratings this year for our SIPP confirms how competitive an offering we have overall, and we will continue to look at ways to enhance this service for our clients.”