Fidelity charges

KDH_2

scrambledeggs wrote: »

Do Cavendish have the same level of free Morningstar portfolio analysis as Fidelity?

You can log in in an identical way as before...so yes

cinek

I didn't get anything...

TrustyOven

Got their letter about the change of charges in the post this morning.

I will need to carefully read it, but after an initial read of it I am looking for a new platform.

Off to find the latest version of Snowman's compare spreadsheet - I know he/she is aware of it as per their comment on http://monevator.com/compare-uk-cheapest-online-brokers/#comments .

Lezduur

jabbahut40 wrote: »

Just to check.


Does the £45 min fee apply per fidelity fund? i.e. if I have two fidelity fund in the same ISA do I get charged twice?


or....


Does the £45 min fee apply for each ISA year or the overall portfolio?

the £45 fee is for your total value with fidelity with your Customer Reference Number, across all your investments, all year ISAs, SIPP, investment account, etc, not including your cashmanager account.

Terry98

I have had four different ISA's with Fidelity via Cavendish for a few years now and I cannot understand all the changes recently.

In December last year they changed the prices of my Newton funds and I am sure I lost out on the conversion.

In the last few months I have been charged a service fee of approx £10 (by share reduction) on one of my funds which I assume covers the charges for all four funds.

All these changes were supposed to make the process more transparent but they are as clear as mud to me.

lejog2003

Terry98 wrote: »

I have had four different ISA's with Fidelity via Cavendish for a few years now and I cannot understand all the changes recently.

In December last year they changed the prices of my Newton funds and I am sure I lost out on the conversion..

IIRC you should have a "Confirmation of Transaction" document in your "Online Documents" folder. Details of the conversion should also appear in your biannual "Statement and Valuation" document. I've always found Cavendish to be extremely helpful in anwering queries like this by email and if there is a problem with Fidelity, sorting them out for you.

Terry98 wrote: »

In the last few months I have been charged a service fee of approx £10 (by share reduction) on one of my funds which I assume covers the charges for all four funds.

All these changes were supposed to make the process more transparent but they are as clear as mud to me.

Yes both Fidelity and Cavendish did send plenty of notices out that this is how they were going to charge their platform fees on clean funds.I agree its not as obvious as an upfront charge, but all the fees can be found on their website (again if you know where).

Terry98

lejog2003 wrote: »

IIRC you should have a "Confirmation of Transaction" document in your "Online Documents" folder. Details of the conversion should also appear in your biannual "Statement and Valuation" document. I've always found Cavendish to be extremely helpful in anwering queries like this by email and if there is a problem with Fidelity, sorting them out for you..

Many thanks for your reply. I have just looked at my account online and there are indeed a few online documents there that I had not opened. I used to get them by mail so I will have to ensure I look there more often!

lejog2003 wrote: »

Yes both Fidelity and Cavendish did send plenty of notices out that this is how they were going to charge their platform fees on clean funds.I agree its not as obvious as an upfront charge, but all the fees can be found on their website (again if you know where).

The only thing I get from Cavendish (since the Fidelity integration) is details of commission about an investment outside Fidelity but in future I will look more closely at my online Fidelity inbox.

anandp

Lezduur wrote: »

the £45 fee is for your total value with fidelity with your Customer Reference Number, across all your investments, all year ISAs, SIPP, investment account, etc, not including your cashmanager account.

Just to clarify, having spoken to them just now, the £7,500 threshold does not take into account any FundsNetwork elements of your portfolio.

TrustyOven

So that means you need to have more than £7500 in funds outside of FundsNetwork in order to not be charged the £45 AMC NewFidelityCharge?

Lezduur

If you have £7500 or less held in a fidelity ISA [Direct ISA] you will be charged.

Switch to cavendish online:
If you have £7500 or less held in a fidelity ISA [Direct ISA] you will be charged.

Switch to cavendish online to avoid paying this new charge.

Basically as things currently stand, Fidelity take 0.35% of their charge by selling your funds monthly, this will change to a bulk £22.5 sale of funds every six months. Which is a lot of your hard earned ISA value to erode.
By transferring to cavendish, FundsNetwork [Fidelity] will take 0.20% only, by selling your greatest value fund, and Cavendish will take 0.05% by sale as well.

Additionally, open a FundsNetwork CashManager Account to pay Cavendish their charge of 0.05% taken in monthly deductions, thus they will not sell your funds to cover their cost.

Hope that helps.

to avoid paying this new charge.

Basically as things currently stand, Fidelity take 0.35% of their charge by selling your funds monthly, this will change to a bulk £22.5 sale of funds every six months. Which is a lot of your hard earned ISA value to erode.
By transferring to cavendish, FundsNetwork [Fidelity] will take 0.20% only, by selling your greatest value fund, and Cavendish will take 0.05% by sale as well.

Additionally, open a FundsNetwork CashManager Account to pay Cavendish their charge of 0.05% taken in monthly deductions, thus they will not sell your funds to cover their cost.

Hope that helps.