FinecoBank (BI:FBK), an online trading and banking platform, has added a suite of funds from Aberdeen Standard Investments (ASI). The company states that with the new funds from ASI, Fineco clients in the UK now have access to a new set of funds. ASI is a global asset manager managing over $644 billion worldwide. FinecoBank says clients may access the funds at 25 basis points per year.
Fineco launched in the UK just over two years ago with an offering focused on trading, banking, and investing services, which can be managed through a single account, with the ability to hold up to 13 currencies as standard. Fineco once was a part of Unicredit but was spun out from the firm which now trades on the Borsa Italiana. Fineco offers commission fee trading for UK/US/European listed shares. The bank promotes its all in one, global approach with free current accounts.
Paolo Di Grazia, deputy general manager of Fineco, said they are committed to providing in the next few months our customers in the United Kingdom with the best asset managers’ offering, aiming to add a wider number of funds of 70 partners, today available on our Italian investment platform.
“Fineco chose Aberdeen Asset Management for the firm’s expertise and quality of offering: the current market phase has shown why investors need access, at a competitive fee, to the best quality asset managers who can thrive in changing market conditions.”
Campbell Fleming, Global Head of Distribution, Aberdeen Standard Investments, added that Fineco is one of their key partners in Italy, and their efforts to extend this partnership offering to the UK will help support a wider customer base in this market.
“Our global presence and our knowledge of individual markets allow us to be the partner of choice for our customers whether operating in a single country, or as in this case, planning to expand their presence on a larger scale. ASI is committed to offering Fineco its full range of solutions and provide all the necessary support to achieve its objectives in the UK market.”