starting again, what platform to use to keep 20 year cost down

cloud_dog

No.  If you hold ETFs, ITs, or shares, then the platform charge is capped at £45pa.  There are trading charges, but they do not charge anything for holding cash.

EDIT. They also seem to have an offer on atm to pay you a cash reward for transferring ISA or pensions (between £20 to £1000).
https://www.fidelity.co.uk/transfer/shares-and-funds/?ef_id=EAIaIQobChMIvICZlfe-7AIV24BQBh3ijAirEAAYAiAAEgISDvD_BwE:G:s&s_kwcid=AL!8153!3!453204789255!b!!g!!+fidelity +transfer&utm_source=google&utm_medium=paid_search&utm_campaign=UK_-_Brand_-_Segment_-_Consolidation_Cashback_Funds_Transfer_-_BMM&gclsrc=aw.ds&&gclid=EAIaIQobChMIvICZlfe-7AIV24BQBh3ijAirEAAYAiAAEgISDvD_BwE#accordion-a1d98c49

Alexland

Yup Fidelity only deduct up to £3.75 each month (£45 pa) from the SIPP account balance (now via a transfer between the SIPP and a free Cash Management Account but don't worry that's automatic) for holding exchange traded assets such as ETFs. We also pay £1.50 per quarter to automatically reinvest the dividends which when buying ETFs it needs to buy whole units so there is always a little bit of each dividend left in the cash account to help with the ongoing fees. We also pay a few pennies each month (at the wealth 0.20% rate) to hold a small OEIC fund in the SIPPs which we can sell down (no trade fees on funds) to pay fees if required. It's a very low cost way of holding a fairly static pension investment.
With the transfer cashback on a large valuation it's almost like they are willing to provide the account for free for 10+ years. I guess they hope transfer customers will go on to run their account less cost efficiently (trade frequently, use mainly OEIC funds, etc) and it's all part of the game where investment platforms want to suck up assets under management at almost any cost.

Still I prefer traditional OEIC funds over ETFs so where it makes no difference such as our iWeb ISAs then I go for the OEIC option. I feel holding a fair proportion of our money in ETFs at Fidelity and AJ Bell for the capped fees is a bit of a compromise. The tail is slightly wagging the dog. Still it's such good value...

Albermarle

If you transfer £180K to Fidelity in the next few weeks you will get a cashback of £500. The only caveat is that you do not transfer out again within about 18 months I think.
If you only buy ETF's with the cash then the platform charge is £45 pa maximum for an ISA or SIPP or Sipp in drawdown.
As Alexland said you effectively get 10 years free platform fees with a well established large player.
Why do they do it ?, nobody quite knows but presumably only a relatively few savvy investors take full advantage, and clearly there is a market share fight between Hl; Fidelity; A J bell and II so probably related to that .

wolves1976

thank you both,  the reason my head was hurting this the costs page under SIPP only shows the % related costs.
if you go to https://www.fidelity.co.uk/services/charges-fees/service-fee/#tab-link   then the actual £45 for ETF fees is shown.
i called them also and the adviser first stated the % cost fees, then when i pointed out the cost from link above, she checked and told me where on site it listed it.
super result  and super kudos to @ Alexland 

Albermarle

wolves1976 said:

thank you both,  the reason my head was hurting this the costs page under SIPP only shows the % related costs.
if you go to https://www.fidelity.co.uk/services/charges-fees/service-fee/#tab-link   then the actual £45 for ETF fees is shown.
i called them also and the adviser first stated the % cost fees, then when i pointed out the cost from link above, she checked and told me where on site it listed it.
super result  and super kudos to @ Alexland 

The £45 capped charge actually applies for any 'exchange traded product' , which in English means any product you buy directly  in the markets . This includes individual shares; investment trusts and ETF's.
All these products cost £10 to buy and sell, for a real time trade . If it is a regular investment or a dividend reinvestment it is only £1.50 but you can not time the trade.

wolves1976

paperwork all in post , once transfer occurs
Q1.  will the £45 fee apply to just one ETF holding or as many as i wish. 
Q2. anyone advise on a global ETF that they have used on Fidelity, or even share details (not cost) of their ETF holdings for SIPP.
i want to go 80/20 -ish in my SIPP. feel i need to make up for a number of years where i have not ever been in S&S apart from company pensions.
welcome any suggestions.

cloud_dog

Q1.  It applies to your entire holding/portfolio
Q2. For equities I tend to use HSBC MSCI World Index.  But there are many others that do similar jobs

I know this may be obvious but, with regard to your comment about 80/20 split, there aren't ETFs that are similar in make up to mixed asset funds, i.e. Vanguard Life Strategy, HSBC Global Strategy, L&G Multi-Index, Blackrock Consensus, so you will need to purchase an equity ETF equivalent of your 80% and a bond ETF for the 20%.  Apologies if you already understood this.

Alexland

On Fidelity we use Vanguard VEVE at 0.12% and HSBC HMWO at 0.15% which are both developed World trackers paying quarterly dividends. They are both fairly large and liquid with reasonable market spread cost. Fidelity's ETF selection is a bit more limited than AJ Bell where we can hold Lyxor LCWL at 0.12% with the advantage that it accumulates so no reinvestment trade costs. iShares's popular accumulation SWDA is available on Fidelity but at 0.20% then it's cheaper for us to pay Fidelity £1.50 each quarter to reinvest dividends. All of these only provide developed world equity exposure so you might want to mix in an emerging market ETF or pay Vanguard the expensive 0.22% for VWRL which provides All-World coverage. It's a shame that in the ETF market there just isn't anything as broad and cheap as the HSBC FTSE All-World accumulation fund at 0.13% we hold on iWeb.

If you are only going for a small proportion of bonds to provide the inverse correlation to equities for volatility control (rather than return) then consider the Vanguard VGOV gilts at 0.07%. As I said earlier we hold our bonds in our workplace pensions and sometimes when the stock market has crashed then I tend to start converting them into equities but that's because I can be greedy and reckless but so far it's always worked out well. Still normal caveat to DYOR rather than rely on what I say. There's a lot to be said for keeping it simple, sticking to an asset allocation plan and minimising the number of trades.

wolves1976

cloud_dog said:

Q1.  It applies to your entire holding/portfolio
Q2. For equities I tend to use HSBC MSCI World Index.  But there are many others that do similar jobs

I know this may be obvious but, with regard to your comment about 80/20 split, there aren't ETFs that are similar in make up to mixed asset funds, i.e. Vanguard Life Strategy, HSBC Global Strategy, L&G Multi-Index, Blackrock Consensus, so you will need to purchase an equity ETF equivalent of your 80% and a bond ETF for the 20%.  Apologies if you already understood this.

thank you and its good to make the second point as these threads help others which is a courtesy to all who reply to help each other.

wolves1976

Alexland said:

On Fidelity we use Vanguard VEVE at 0.12% and HSBC HMWO at 0.15% which are both developed World trackers paying quarterly dividends.

i take if that you have one of these ETF's and someone else in household holds the second - this being why to listed two dev world trackers.   
mixing up the same type of ETFs between someone else in household (wife/partner/etc) makes sense to get both bites of