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    • intowhere
    • By intowhere 6th Sep 17, 7:18 PM
    • 33Posts
    • 5Thanks
    intowhere
    Is Cavendish Online owned by Fidelity
    • #1
    • 6th Sep 17, 7:18 PM
    Is Cavendish Online owned by Fidelity 6th Sep 17 at 7:18 PM
    Hi


    I wanted to check, cannot find anything online, whether Cavendish was owned Fidelity of if they were both part of the same financial institution?


    Looking at stock and shares ISA it seems that only £50k is protected under the FSCS scheme, and its £50k per institution. Does anyone know of any brokers that are part of the same institution?


    Also, are ISA, pensions and normal investments treated separately with their own £50k limits or would they all be treated as part of the £50k compensation, e.g, if I had £50k in an isa, 50k in a sipp and £50k non isa investments all with one broker, would I get just £50k back
Page 1
    • talexuser
    • By talexuser 6th Sep 17, 7:27 PM
    • 2,253 Posts
    • 1,725 Thanks
    talexuser
    • #2
    • 6th Sep 17, 7:27 PM
    • #2
    • 6th Sep 17, 7:27 PM
    Cavendish are an independent broker who use Fidelity as a platform to hold funds. Because they are a no frills service they can offer a lower fee than going to Fidelity direct to use the same platform.

    The 50k applies to each investment house you have funds in. So you can have 50k protected in an Invesco fund and 50k protected in a Schroder fund for example. But if you have 3 different Threadneedle funds they are all subject to the 50k protection.
    • Audaxer
    • By Audaxer 6th Sep 17, 7:39 PM
    • 409 Posts
    • 168 Thanks
    Audaxer
    • #3
    • 6th Sep 17, 7:39 PM
    • #3
    • 6th Sep 17, 7:39 PM
    As well as applying to each fund house, the £50k FSCS limit applies to each platform. So if there was a major fraud in the platform and your money was lost you would only be protected up to £50k.
    • dunstonh
    • By dunstonh 6th Sep 17, 8:07 PM
    • 89,502 Posts
    • 54,962 Thanks
    dunstonh
    • #4
    • 6th Sep 17, 8:07 PM
    • #4
    • 6th Sep 17, 8:07 PM
    Cavendish use a white label version of Fidelity.

    Fidelity was built originally to be used by intermediaries. Cavendish are effectively the intermediary with their own labelling.

    Also, are ISA, pensions and normal investments treated separately with their own £50k limits or would they all be treated as part of the £50k compensation, e.g, if I had £50k in an isa, 50k in a sipp and £50k non isa investments all with one broker, would I get just £50k back
    ISAs and unwrapped investments have £50k per fund house (at fund level). SIPPS have their own £50k limit for failures at SIPP level. If you have a SIPP and an ISA o the platform, then you get one lot of £50k FSCS if there is failure at platform level.

    Personal pensions and Stakeholder pensions have 100% FSCS protection with no upper limit.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. Different people have different needs and what is right for one person may not be for another. If you feel an area discussed may be relevant to you, then please seek advice from a Financial Adviser local to you.
    • intowhere
    • By intowhere 6th Sep 17, 9:22 PM
    • 33 Posts
    • 5 Thanks
    intowhere
    • #5
    • 6th Sep 17, 9:22 PM
    • #5
    • 6th Sep 17, 9:22 PM
    My understanding it's only 100% protected when the personal or stakeholder pension is provided by an insurance company
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