Completion of trust range accelerates evolution of FundsNetwork

Fidelity FundsNetwork has passed another development in its evolution from investment platform to business and financial planning service with the completion of its range of trusts.

Following the recent launch of its International Bond, FundsNetwork has now made two further additions to its range of trusts, with the launch of two Discounted Gift Trusts (Bare & Discretionary). The range will be completed with the addition of an Excluded Property Trust later this summer.

David Dalton-Brown, Head of FundsNetwork said: “What better way to mark our seventh year than with the launch of our International Bond and the completion of our range of Multi-Asset Trusts. We now offer advisers and their clients an integrated range of wrappers, trusts, planning tools and of course mutual funds, as well as a range of services to assist advisers in managing their business. The year 2007 is proving to be a breakthrough year for FundsNetwork - advisers are increasingly using us across the full breadth of financial planning, from generational wealth management and IHT work, through retirement provision, to more general investment business such as ISAs where we remain popular.”

The Discounted Gift Trusts complement the existing trusts launched earlier this year to form a comprehensive range of Inheritance Tax Planning (IHT) solutions. The two new trusts can be used alongside the onshore Investment Bond and the International Bond. Discount figures are in line with HMRC methodology published at the start of this month.

Paul Kennedy, Head of Trusts and Taxation at FundsNetwork said: “More and more people are falling into the inheritance tax net. We’ve dedicated much time and resource to developing our range of trusts to ensure they reflect the modern needs of today’s advisers and their clients. While the majority of traditional trusts are linked to investment bonds, our trusts take a broader, more inclusive approach to both income and non-income producing assets and effectively wrap around the platform. We believe that with the addition of the Discounted Gift Trusts and our Excluded Property Trust in the near future, that the platform equipped with everything that advisers need to do tax and estate planning for their clients.”

Range of FundsNetwork Trusts Now Available:

Discounted Gift Trust (Bare and Discretionary) available as single or joint trusts
Gift Trust (Bare and Discretionary) available as single or joint trusts
Loan Trust (Bare and Discretionary) – available as single or joint trusts
Will Trust (Draft wording for inclusion for a will or codicil)
Excluded Property Trust (Coming Summer 2007)

By adding trusts to its overall offering, FundsNetwork is bringing financial planning service to the mass market by offering advisers and their clients the opportunity to plan for IHT without incurring traditionally high product charges. The inclusion of Trusts complements the existing range of next generation planning tools available on FundsNetwork, and a range of wrappers including a SIPP, Onshore Investment Bond, International Bond and ISA.