Should I ditch Fidelity
Discussion
I use Fidelity for my S&SISA and SIPP, fairly happy with them but I only use ETF's to take advantage of the capped platform fees (£90 per yr).
It works for me but using ETF's only might not be right for you depending on how much flexibility you need and size of your accounts e.g: I am not aware of any multi-asset ETF's available on Fidelity that include Equities and Bonds so use a combo of Equity and Bond ETF's in my ISA, SIPP is 100% Equities so not an issue however if using OEIC funds you are spoilt for choice e.g: HSBC Global Strat, Vanguard Life strat and a whole bunch of others..but using OEIC's = % based platform fees which generally will be much higher..think it's 0.35% on Fidelity though I might be mistaken so worth checking.
I also use AJ BELL but think the Fidelity interface is a bit better but both are solid platforms.
Hope that helps though really will depend on a bunch of other variables specific to your needs such as account size, no. of transactions etc.
It works for me but using ETF's only might not be right for you depending on how much flexibility you need and size of your accounts e.g: I am not aware of any multi-asset ETF's available on Fidelity that include Equities and Bonds so use a combo of Equity and Bond ETF's in my ISA, SIPP is 100% Equities so not an issue however if using OEIC funds you are spoilt for choice e.g: HSBC Global Strat, Vanguard Life strat and a whole bunch of others..but using OEIC's = % based platform fees which generally will be much higher..think it's 0.35% on Fidelity though I might be mistaken so worth checking.
I also use AJ BELL but think the Fidelity interface is a bit better but both are solid platforms.
Hope that helps though really will depend on a bunch of other variables specific to your needs such as account size, no. of transactions etc.
Edited by VR99 on Tuesday 18th February 20:17
My wife held various UT’s with them over a decade and the returns were just about ok and no issues with either the platform or paperwork.
However the issue came when she decided to sell them all to invest elsewhere and that’s when they were simply awful to deal with.
From memory she had held money in 6 different Funds and each Fund’s closure needed a separate phone call to the dealing room !
Eventually when sorted I complained on her behalf and they agreed something had gone badly wrong and refunded all the dealing fees and included an additional amount of compensation for her pain.
However the issue came when she decided to sell them all to invest elsewhere and that’s when they were simply awful to deal with.
From memory she had held money in 6 different Funds and each Fund’s closure needed a separate phone call to the dealing room !
Eventually when sorted I complained on her behalf and they agreed something had gone badly wrong and refunded all the dealing fees and included an additional amount of compensation for her pain.
8-P said:
I suspect I could do this elsewhere and save myself some fees. I’m just not sure who I should use and how much I might save?
It's hard to say without knowing the overall value of your ISA. That's because some providers charge a percentage platform fee (which may be tiered), while others charge a flat per-month platform fee.But that's not the whole story. As you're adding to each of your four funds every month, you also need to take into account dealing fees. One of Fidelity's key advantages is that it doesn't charge dealing fees on funds.
mikeiow said:
We have a small chunk of ISA each with Fidelity.
Considered consolidating to our main one (IM > Cobens)...
Interestingly I went the other way! Considered consolidating to our main one (IM > Cobens)...
Fidelity's platform fee is tiered from 0.35% to 0.2% and then 'free' above £1M. I like its functionality, choice and good back-up either by phone or e-mail.
Simpo Two said:
mikeiow said:
We have a small chunk of ISA each with Fidelity.
Considered consolidating to our main one (IM > Cobens)...
Interestingly I went the other way! Considered consolidating to our main one (IM > Cobens)...
Fidelity's platform fee is tiered from 0.35% to 0.2% and then 'free' above £1M. I like its functionality, choice and good back-up either by phone or e-mail.
£1m isn’t an big ISA issue for us
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