Fidelity’s FundsNetwork business is rebranding as Fidelity Adviser Solutions as it looks to develop its platform and widen the services it offers.
The firm said the new name more closely reflects the services provided to clients, which cover pensions, discretionary fund management and model portfolio services.
Fidelity said the new name also reflected further developments the company intends to roll out, including a new phased drawdown proposition and a financial planning tool.
In an email to advisers, the company said the new name was more representative of Fidelity's long-term plan of providing them with not just products and wrappers, but "a whole host of value-added services that make it easier for [advisers] to do business".
The name change, which will be introduced over the coming months, comes amid pressure on fees throughout the industry.
Jackie Boylan, head of Fidelity Adviser Solutions said the business has evolved significantly since it was first launched 22 years ago, and the new name is much more representative of the firm's long-term vision.
She added: “As a business, Fidelity services a lot of different clients through different channels, but ultimately we are one company.
"We have already received a positive reaction from many advisers and clients, many of whom already see us as “Fidelity”.”
sally.hickey@ft.com
