Credential Financial is introducing fee-based accounts for MFDA-licensed advisors in credit unions.

On Jan. 26, Credential launched its OnPoint fee-based account, which will be available to advisors in credit unions who are licensed by the Mutual Fund Dealers Association (MFDA). Credential says the account will give clients access to "a select group of premier mutual funds" which will be delivered with a single, transparent fee for advice. According to the Credential web site, OnPoint will also offer portfolio models and enhanced research options, as well as comprehensive reporting on accounts.

"We're pleased at how responsive Credential has been to ensure our advisors are equipped with the right solutions to best meet the needs of our members in this rapidly changing market and regulatory environment," says Randy Janzen, senior manager of wealth Solutions at the Meridian credit union. "Our members gain peace of mind knowing that they are receiving ongoing advice and expertise from an advisor whose interests are completely aligned with their investment goals. We're excited to offer an MFDA-specific fee-based solution as it meets a demand from both our members and advisors, and will assist in driving new growth opportunities in 2016."

Credential says OnPoint is best suited to those who have at least $100,000 to invest and who want to build a long-term relationship with an advisor.