FundsNetwork rivals Skandia and Standard with risk-rated proposition

Fund supermarket Fidelity FundsNetwork has launched a risk based portfolio proposition to rival Standard Life's MyFolio and Skandia's Spectrum.

The Fidelity FundsNetwork Navigator service will use a risk-profiling tool to identify a client's attitude to risk and suggest the most suitable fund from one of a range of three multi asset allocator funds.

Navigator will be free for advisers who use the platform. The Defensive, Balance and Growth funds were launched in October last year for Trevor Greetham.

David White, (pictured) head of FundsNetwork said the use of managed solutions and model portfolios has risen as the retail distribution review (RDR) had forced advisers to adapt their client base and business models.

'Advisers are now going through the process of assessing each client and their requirements to decide how best to provide a service for them going forward,’ he said.

'The FundsNetwork Navigator service is a straightforward solution allowing advisers to cater for clients whose investment goals are best suited to manage funds.’