Fidelity has launched a restricted advice service in the UK which will see a further six advisers join its ranks in the first month of going live.
The newly launched Fidelity Wealth Management will charge clients 1 per cent of their investment amount, subject to a minimum fee of £1,000 and maximum of £10,000.
The advice arm already offers investment and retirement services but plans to expand into estate planning, tax optimisation and financial planning services.
For those using its ongoing advice service there is no additional fee for investing new money using annual ISA or JISA allowances, increases of regular contributions or moving previously-advised invested money between products.
Fidelity Wealth Management currently has five advisers specialising in safeguarded benefit transfers, lifetime allowance and retirement income advice and who are supported by four pension transfer specialists.
The business also has another five advisers offering investment advice on Fidelity's products, with a further six set to join its ranks this month.
Simon Gibbons, head of UK wealth and personal investing at Fidelity International, said there was a "continued and growing need" for financial advice services which help consumers to optimise wealth.
Mr Gibbons added: "The introduction of pension freedoms, increased longevity, and the transfer of wealth within generations means this is particularly acute amongst those planning for retirement.
"Fidelity Wealth Management builds upon our existing wealth and retirement experience, allowing us to offer even greater support and peace of mind for those customers seeking advice."
Fidelity said clients can arrange advice in the form of a single meeting or annual reviews, and both telephone and video meetings are available.
rachel.mortimer@ft.com
