Fidelity Pension Review

as of 23/03/2021 at 5:15 pm

Our View

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 still needs work and it is less clear than some competitors for those who want to know what they put in, and what it is worth today. A decent mainstream option. Fairly priced.

Our Pension Rating

Recommended For

Beginner Investor

In a nutshell

Big, secure company

Good phone support

Recently improved website

You Say

Your overall rating

Based on 238 reviews

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What to Expect

Investment Choice

Products

Stocks and Shares ISA

Junior ISA

Investment Account

Pension

Investments available

Own brand funds

Funds from other groups

Stocks and shares

Investment help

Robo advice / ready-made portfolios

Help building a portfolio

Includes a shortlist of investments

Pick your own funds

Pick your own shares

Drawdown

No drawdown fees, good fund choice and functionality are just a few reasons why customers choose Fidelity for drawdown. It’s reportedly simple to get set up, and works ‘as smooth as clockwork’, satisfying ongoing customer expectations.

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The 'Geeky' Details

Provider 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

Provider Size:

Large firm: administering £bns on behalf of investors and financial advisers

Minimum amounts: £1000 minimum lump sum investment amount
£50 minimum monthly amount for a regular savings plan

Your Questions

"I currently have my children's Stocks & Shares ISA's with H&L however I am not that savvy with investing so I am thinking of moving it over to Wealth Simple and allowing them to do it for me. Would you recommend this or are there other roboadvisors you would suggest? I am happy to leave the money in long term until they are about 18 so looking at an 'ambitious' risk. I also have the same account with H&L and will potentially swap also."

Funmi, LDN

12/10/2020

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"What are your views on Fidelity Multi Asset Income Fund, please? I noticed it got an award from yourselves but that may have been a few years ago. To me it seems to be a stable, low risk fund, paying a good dividend in today's climate but it won't shoot the lights out. Only negative for me is that it seems to invest in a lot of other Fidelity funds investing in UK stuff, and therefore I suspect there may be considerable overlap. Cheers, Nigel"

Nigel, Bedfordshire

06/08/2020

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"I have about £100,000 invested in an ISA with Investec Click and Invest. They are closing their Click and Invest accounts and I have to find somewhere else to invest the money. Which are some providers of a similar nature, i.e. a managed ISA fund, preferably ones which can be set up and monitored online? I am considering either medium risk or high risk accounts."

Michael, Surrey

10/06/2019

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