High or low Fidelity? - RDR charges announced

Jegersmart

looks like I might stay with Fidelity now. I am not inclined to save tiny amounts of money by going to III or some other provider with a !!!!!! looking website to be honest. HL was one option but looks like there is no point.

I wonder what is happening with the Fidelity Wealth discount I was getting? Looks like it will be scrapped as the bandings will take care of that?

Staying would be simple, and I like simple:)

J

SnowMan

Just spoken to Fidelity Fundsnetwork. Some information will be going up on their website shortly.

The switch from dirty to clean share classes will happen on 9th February.

From that date only clean funds will be available for new purchases. However dirty funds already on the platform and regular premium mandates can continue at the same level into dirty funds without triggering the switch to clean pricing.

So there will be a decision at 9th February to make on whether to keep funds on as dirty funds or go clean and pay 0.35%pa and Fidelity will have a calculator on their website to help investors decide what to do.

By April 2016 everything will have to be switched to clean. Fidelity I guess are likely to set a date just before that when the full switch happens.

They will be writing to all customers a bit before the 9th February.

Of course as there are no exit fees, there are no issues if investors want to switch. What a refreshing difference to be invested with a company that treats its customers fairly as opposed to a truly dreadful and more expensive platform like Hargreaves Lansdown.

SnowMan

Info up on Fidelity website (I've not read it yet)

https://www.fidelity.co.uk/investor/funds/fund-charges/fund-charges.page?WT.mc_id=DCAR001

Jegersmart

SnowMan wrote: »

Info up on Fidelity website (I've not read it yet)

https://www.fidelity.co.uk/investor/funds/fund-charges/fund-charges.page?WT.mc_id=DCAR001

That looks good to me....

J

LizzyByTheSea

Refreshing change to see information presented so clearly! I'm thinking of investing in a Fidelity ISA to start with, but good to see that fees are so clear if I'm in the position to invest outside an ISA too.

cepheus

Has Fidelity always waived dealing fees for open ended funds or is that a recent change? I thought only HL and Charles Stanley didn't charge.

Lokolo

Interesting to see that Fidelity are using Charles Stanley platform for share trading.

kidmugsy

Lokolo wrote: »

Interesting to see that Fidelity are using Charles Stanley platform for share trading.

Oh bloody ho. Things are going to keep changing, aren't they?

cloud_dog

I know this may sound a simple question but...... when is the below applied?

Share dealing charges

Monthly admin charge £5.10 per month

(link - https://www.fidelity.co.uk/investor/funds/fund-charges/no-hidden-charges.page)

Rollinghome

SnowMan wrote: »

Of course as there are no exit fees, there are no issues if investors want to switch. What a refreshing difference to be invested with a company that treats its customers fairly as opposed to a truly dreadful and more expensive platform like Hargreaves Lansdown.

Absolutely. Extraordinary contrast between their completely open and simple pricing in contrast to the sleight of hand of Hargreaves Lansdown that would impress a shell game hustler.

On Fidelity, £250,001 means you get the lower 0.2% on the whole £250,001. On HL you get 0.25% on the £1 but still pay 0.45% on the £250K. Which is presumably why HL have been busy putting more barbed wire round the windows and need bigger exit penalties to prevent clients getting out.

When a company like Fidelity are confident enough to offer a service without any exit fees they know they have to stay competitive to keep their clients. Good to see.