A good all-rounder
Fidelity is a big, solid, global brand which offers a decent service and a fair price. Not good if you want to trade shares
What we say
Holly has accounts with all the providers on our website and independently reviews all of them.
The website is notably improving all the time and the wealth of supporting information is valuable. It is easy to move from research to account to trading – the journeys are all quite clear. Performance reporting remains a bugbear for me -I'm never quite convinced I get a meaningful picture of what I put in. And what it's worth today. The app has improved and it's easier enough to trade, see balances and read up on markets from it.
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Best Buy 2021
Best Buy for Pension
Best Buy for Beginner ISA and Beginner Pension
Best Buy for Low-cost Pension
Mobile & Apps
The app is not yet as helpful as it could be.
There is a clear gulf between the ‘look at your portfolio’ stuff and the ‘read our huge library of content’ stuff. There’s so much content it’s a bit overwhelming. Once in the secure Account area on the app it’s reporting only at this stage and – if there is the capability to trade – we couldn’t find it!
Behind the scenes
Fidelity has done a lot of work behind the scenes and the website is improved. Trading and switching is easier than before and share trading has been improved. Charges are made very clear when it comes to dealing and the impact of fees is spelt out in cash terms. Customer service remains strong. It’s still not the service for enthusiastic day traders or share aficionados – but it’s clear and simple to find stuff and trade it.
Stocks and Shares ISA
Own brand funds
Funds from other groups
Stocks and shares
Robo advice / ready-made portfolios
Help building a portfolio
Includes a shortlist of investments
Pick your own funds
Pick your own shares
The 'Geeky' Details
A safe, solid global player which has recently improved its website for investors. Recent changes include improved share dealing services and performance reporting. Fidelity charges a 0.35% admin fee, with a minimum payment of £45 a year. They are one of a select few companies to apply a tiered admin fee to the overall portfolio, so for pots larger than £250k, you pay 0.2% on the whole invested sum, not just the amount over £250k. This is capped to £1m; portfolios larger than that pay no additional admin fees, making Fidelity extremely competitive for large portfolios.
The PathFinder range is useful if you want help picking the investments to sit inside your DIY SIPP. If you really simplicity, they offer one ‘Greatest Hits’ simple fund – the Select 50 Balanced fund, which is their investment ready meal for choice-haters! There are also loads of funds from other groups available.
Performance reporting remains a bugbear and it is not as easy as it is with other providers to get a full sense of the entire portfolio performance over time.
One of the key advantages of a pension with Fidelity is the absence of additional charges when accessing your pension pot. There are no specific charges for moving a pension into drawdown or taking withdrawals from a drawdown account – these are all included within the service/admin fee outlined above. This makes them simpler than many.
Important Facts & Figures
Large firm: manages £bns on behalf of investors and financial advisers
£1000 minimum lump sum investment amount
£50 minimum monthly amount for a regular savings plan