Cavendish bought by Fidelity

Currently l get lower charges on my Fidelity ISA by using Cavendish as my advisor. 
Now that Cavendish have been bought by Fidelity what can l do to reduce my ISA charges?

Comments

  • rodneym
    rodneym Posts: 13
    First Anniversary First Post Combo Breaker
    Forumite
    Thinking same  -  but looks like existing Cavendish rates will be held for a year at least, so bit of time to see how things pan out  (if you are infrequent trader/switcher of funds and have decent sized pot then iweb may be worth a look, if costs is #1 priority) 
  • Notified today the Cavendish discount is coming to an end. Is there a similar way of getting the discount through another broker, or do I need to go thru the faff of moving the whole family's accounts away from Fidelity?
  • dunstonh
    dunstonh Posts: 116,044
    Name Dropper First Anniversary Combo Breaker First Post
    Forumite
    Froggitt2 said:
    Notified today the Cavendish discount is coming to an end. Is there a similar way of getting the discount through another broker, or do I need to go thru the faff of moving the whole family's accounts away from Fidelity?
    Some IFAs get discounts with Fidelity.   0.15% pa. is fairly common.  However, you would suffer IFA costs in that scenario.   You don't tend to see white labelling nowadays in the DIY side.  None immediately come to mind but maybe someone else knows.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • Albermarle
    Albermarle Posts: 21,642
    First Anniversary First Post Name Dropper
    Forumite
    Froggitt2 said:
    Notified today the Cavendish discount is coming to an end. Is there a similar way of getting the discount through another broker, or do I need to go thru the faff of moving the whole family's accounts away from Fidelity?
    I think your only choices are to stay with Fidelity or move, although you would need to check the exact charging structure of where you were moving to make sure there would be a worthwhile saving . It depends to some extent on the size of your funds and whether they are SIPPs or ISA's ( some of the cheaper platforms have extra charges for SIPP's for example)
    One way to mitigate the Fidelity 0.35% platform charge is to invest in ETF's or Investment trusts as opposed to more traditional OEIC funds , as there is a cap on charges for those products .
  • DireEmblem
    DireEmblem Posts: 930
    First Post Name Dropper First Anniversary
    Forumite
    edited 22 December 2021 at 1:50PM
    The main thing imo, is what you want to hold, only then can you review platforms that offer you those products.

    I still think Fidelity's platform fee of 0.35% is fairly competitive for small holdings and flexibility on what you can buy.  Interactive Investor last time I looked was £120 a month which included one free trade.  You would need to be an infrequent trader and have a balance greater than 35k to be better off there.

    That said, I have been looking to move assets into these free trade platforms, once they offer in specie transfers in/out.  The ability to buy ETFs with no platform fee is a no brainer to me, although I would lose the ability to invest in OEICs.
  • cloud_dog
    cloud_dog Posts: 6,028
    Name Dropper First Post Photogenic First Anniversary
    Forumite
    edited 1 January 2022 at 2:25PM
    I still think Fidelity's platform fee of 0.35% is fairly competitive for small holdings and flexibility on what you can buy.  Interactive Investor last time I looked was £120 a month year which included one free trade.  
    Fixed that :smiley:
    Personal Responsibility - Sad but True :D

    Sometimes.... I am like a dog with a bone
  • GeoffTF
    GeoffTF Posts: 1,402
    First Anniversary First Post Photogenic Name Dropper
    Forumite
    cloud_dog said:
    I still think Fidelity's platform fee of 0.35% is fairly competitive for small holdings and flexibility on what you can buy.  Interactive Investor last time I looked was £120 a month year which included one free trade.  
    Fixed that :smiley:
    It is one free trade per month, not a year. Free trades do not expire for 90 days IIRC.
  • bugbyte_2
    bugbyte_2 Posts: 413
    Name Dropper First Anniversary Photogenic Combo Breaker
    Forumite
    We moved from Cavendish to LLoyds as the family pots are big enough to make a flat fee (£40 per account per year) more competitive than Fidelity's 0.35%, but it did take the best part of 1/2 a year to move accounts. 
    Edible geranium
Meet your Ambassadors

Categories

  • All Categories
  • 342.5K Banking & Borrowing
  • 249.9K Reduce Debt & Boost Income
  • 449.4K Spending & Discounts
  • 234.6K Work, Benefits & Business
  • 607.1K Mortgages, Homes & Bills
  • 172.8K Life & Family
  • 247.4K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.8K Discuss & Feedback
  • 15.1K Coronavirus Support Boards