Cavendish Online & Fidelity FundsNetwork £45 Account Fee

Tammy2

enthusiasticsaver wrote: »

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!

Ditto - my two letters arrived today.

northernsweep

Hi

Slightly hijacking this threat so please direct elsewhere if appropriate but does involve Cavendish and FundsNetwork.

I have somehow ended up with 2 accounts both showing on FundsNewtork:

1) ISA fee - orginally setup via Cavendish (only £600)
2) ISA direct - monthly savings plan for same fund but has somehow been setup direct with FundsNetwork. (approx £2000)

Can somebody explain my options for merging into one account if indeed there is any benefit? I tried speaking to Cavendish on the phone and was left entirely confused. They said something about a change of agency form. From what I understand is it slightly cheaper to go with cavendish over FundsNetwork?

I thought the new AMC's were meant to make things clearer and I think I'm of average intelligence.

Thanks

puk999

How it got split like that I don't know, but suggest you fill that change of agency form out. This should merge the two accounts and lower your fee on the "direct" account from 0.35% to 0.25%.