Important Facts & Figures
Fidelity is a big, solid, global brand which offers a decent service and a fair price. App recently improved. Good research.
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 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.
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Mobile & Apps
The app was upgraded in 2021 and is much improved. It is easy to review portfolios and to trade funds or shares. You can get various reports via the app too, or dig into more detail about the funds or shares you own. The layout is very spacious and it could be helpful to be able to see all holdings in a more condensed way. In general, the app is easy to use and does most things you would want it to do. The app store rating is 4.6 out of 5.
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.
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 Navigator 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
£25 minimum monthly amount for a regular savings plan