Cavendish platform?

TUVOK

I would welcome opinions on the use of the Cavendish platform.
Any pro's and con's etc would be most appreciated.

Aminatidi

It's Fidelity but cheaper essentially.
They're fine but be aware their platform fee also applies to shares/etfs/investment trusts.

SonOf

As mentioned, it is Fidelity's platform, which some of us consider clunky and lacking features compared to others.  Plus, at this time, they do not support drawdown on a non-advised basis.   

talexuser

I've been with them im the past and for one of the lowest cost % based platforms they are fine. It all depends on what functionality you want and how much you want to invest - for larger sums % based tends to add up. 

Tom99

I have JISA and SIPP. The reason to choose then is if they are cheap for your level of investment. As said the interface is pretty basic and for SIPP you cannot buy/sell or even add more money direct to the Fidelity online account, you have to fill in a Cavendish form and email it to them, then you send a bank transfer to your Fidelity account. All a bit of a faff but if you are only making one transaction a year maybe worth the cheap fees.

The SIPP tax rebate is automatically invested in whatever you put your net contribution into which may not suit everyone.

Remember to hold a bit of cash in the dealing account to pay the 0.25% charges otherwise fractions of a unit will be sold each month and the so called transaction history is a nightmare to try and understand.

AlanP_2

Tom99 said:

Remember to hold a bit of cash in the dealing account to pay the 0.25% charges otherwise fractions of a unit will be sold each month and the so called transaction history is a nightmare to try and understand.

I use the notification documents in the Documents section which detail what has been sold, when and for what price.

Albermarle

It might be worth looking at the Fidelity website directly and assessing whether it is worth paying the extra 0.1% to have direct on line access for changing funds etc . 
Also as mentioned if you hold any significant amount of ETF's or Investment trusts , it will be in fact cheaper going direct.
As mentioned, it is Fidelity's platform, which some of us consider clunky and lacking features compared to others.  

Some significant improvements recently .....

bearshare

I used Fidelity via Cavendish, but just used the normal Fidelty website for everything. Cavendish were not visible at all, except for their regular fee payments going out.
(Oh, and you dont go directly to the Fidelity premier account call handling if you phone in, however much you have invested with Fidelity, if via Cavendish. Did feel a bit 'second class' .....)

AlanP_2

I use Fidelity via Cavendish for a SIPP using Funds mainly as it was the cheapest option.

Some features on Fidelity platform aren't available to me e.g. Buy / Sell as that has to be done via my "adviser" so Cavendish. That hasn't been an issue as in the main it has been monthly regular contributions trickling in.

When I have done a Buy / Sell just fill in the online form on Cavendish website and it goes through in a day or so.

Never spoken to or contacted Fidelity as have always found Cavendish support very helpful over email and they have sorted out a couple of queries / issues with Fidelity on my behalf over the last 5 years or so. 

TUVOK

Many thanks to all for the detailed information on the Cavendish site and Fidelity, it will be a great help.
Any other replies welcomed.