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A Fidelity improvement?

ANGLICANPAT
Posts: 1,455 Forumite


If Im understanding correctly , Fidelity is allowing us to have a cash management account from which to pay fees , whih will help protect tax wrapped Isas Opened automatically for us after Sept 2020.
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Yes that is correct. When ISA and Sipp fees are due they will look into the cash management account first, then if not enough there , then cash account within the ISA/SIPP next . If still not enough they will sell a part of your biggest holding.
You can fund the cash management account directly by debit card etc
I already had this account anyway as they used it to pay cashback on a pension transfer.0 -
I've already got a Cash Management account, which up to now was NOT able to take the ISA fees, I asked them about this about a year ago, so we had to leave some cash uninvested in the ISA.
Are you basically saying that this is now changing, and they ARE going to look to take cash from the CMA first.How's it going, AKA, Nutwatch? - 12 month spends to date = 2.56% of current retirement "pot" (as at end January 2025)0 -
Yes, that is correct.
They are also changing the payment date to be the first of the month from September. Without re-reading the notice I'm unsure if the use of the CMA coincides with that date.Personal Responsibility - Sad but True
Sometimes.... I am like a dog with a bone0 -
We pay an advisor fee and a service fee, both as a percentage of investments. Currently taken from ISA cash.
We don't pay their Investor fee.
So it reads to me like they'll take the service fee from the CMA, but not the Advisor fee??
We used Cavendish when we set our ISAs up.How's it going, AKA, Nutwatch? - 12 month spends to date = 2.56% of current retirement "pot" (as at end January 2025)0 -
Sea_Shell said:We pay an advisor fee and a service fee, both as a percentage of investments. Currently taken from ISA cash.
We don't pay their Investor fee.
So it reads to me like they'll take the service fee from the CMA, but not the Advisor fee??
We used Cavendish when we set our ISAs up.
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Would that also apply to SIPP charges?(Nearly) dunroving0
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dunroving said:Would that also apply to SIPP charges?
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dunroving said:Would that also apply to SIPP charges?
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Can somebody please confirm, does this mean that any money put into the CMA for fees, does NOT count towards the amount you can pay yearly into a SIPP or ISA?0
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I'd say so. From their letter:
2) What are the benefits of a Cash Management Account?
I prefer the Vanguard approach where ISA charges are take by Direct Debit. But it's a step in the right direction.
There are two main benefits of a Cash Management Account:- It helps protect your tax-wrapped ISA and SIPP investments, as it will allow you to pay service fees from a separate cash holding.
- It also allows you to move money between your Fidelity accounts making it easier for you to manage your investments.
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