Fidelity: Baffled by changes to Charging Structure

polybear

Hi,
I have a fair amount invested and/or held with Fidelity. I've recently received info from them to the effect that they are to change the way they charge me for their services, in line with FCA regulations.

In the letter they say:
"We have calculated that the new structure means that your overall charges are likely to go down."

Also:
"We also looked at what the impact will be for just the Fidelity Funds you hold outside an ISA in an Investment Fund Account - in other words, the ones we can only convert with your agreement. On these funds, we expect there will be an increase of no more than £5 a month in your charges. Nevertheless, the proposed changes will mean you are in a position to benefit from future enhancements to our services, and we would encourage you to give your agreement as soon as you can".

Whilst the increase in cost amounts to "only" approx. £60 year (which is lost in the noise really) I'd much rather it was in my pocket that Fidelity's. For all I know the proposed (undefined) changes may account to a prettier website - I'd rather have more to jingle in my pocket. :j It's unsurprising that Fidelity are encouraging me to "give my agreement" as soon as I can....

So, should I agree or not? What am I missing, if anything?

Thanks.
polybear

Froggitt

Yes I received the same letter. Eventually binned it yesterday. I don't want any future enhancement to that service, not any increase in the amount it costs.

polybear

Many thanks - good to know I'm not the only one with the same thoughts!