Cavendish Online & Fidelity FundsNetwork £45 Account Fee

Perelandra

Cavendish have responded to me to say that "We raised this as an urgent issue with Fidelity yesterday ..... we fully expect you to receive an apology from Fidelity soon".

So fingers crossed....

Perelandra

jimjames wrote: »

It's still cheaper, 0.25% vs 0.35%. Only works cheaper direct if you have over the next tier when it drops to 0.2% direct.

Ah ok, thanks, I stand corrected.

Rollinghome

Perelandra wrote: »

Cavendish have responded to me to say that "We raised this as an urgent issue with Fidelity yesterday ..... we fully expect you to receive an apology from Fidelity soon".

So fingers crossed....

And further. Cavendish refer to the Key Facts document and say:

[FONT=&quot]"Our clients should not be charged the £45 Annual Investor Fee and this is confirmed in the Doing Business with FundsNetwork document, please see confirmation of this on page 5 of the following document which states that, ‘FundsNetwork has agreed with Cavendish Online Ltd to waive the £45 Investor Fee’.[/FONT][FONT=&quot]http://www.cavendishonline.co.uk/index.php/download_file/view/501/212/[/FONT]

[FONT=&quot]We are expecting FundsNetwork to send another document apologising for the letter that they sent on 17/02/2015."[/FONT]


[FONT=&quot]Sounds as if Fidelity have caused some confusion they could have managed without.
[/FONT]

jimjames

Perelandra wrote: »

Cavendish have responded to me to say that "We raised this as an urgent issue with Fidelity yesterday ..... we fully expect you to receive an apology from Fidelity soon".

So fingers crossed....

Let's hope it's a case of "Don't panic Captain Mainwaring!" and it's all an error by Fidelity.

Perelandra

Good news- Fidelity have also now confirmed that this was in error (via secure message to me).

Tammy2

Phew! Glad this has come up. I was trying to find the message to post on here.

KDH_2

I notice that the online document posted yesterday about the £45 investor fee has today been removed from my account.

jimjames

Today I've received 2 letters in the post from Fidelity.

One dated 17th Feb telling me I'd now be charged £45.

Second dated 19th Feb saying the first letter was wrong and I'd not be charged.

Nice to see RM are able to deliver in the correct order.

puk999

I received the same two letters today. Glad they acknowledged the mistake.

enthusiasticsaver

I also got two letters in the post first saying the investor fee of £45 would be taken and then one saying a mistake had been made. Expensive mistake if they had to send two letters out to everyone!