Should I switch my sas isa from fidelity?

Markp1984

Hi, my isa was recently moved to fidelity as part of two companies merging. The isa has performed well from such a small investment, but has only £1900 in it in two etf's. I'm fine with it except that fidelity charge a £45 a year fee on accounts with less than 7.5k in them, obviously a pretty high portion of my small savings in it. Are there any providers that might be more favourable for people with small stocks and shares Ida's? Thanks. 

jimjames

iWeb charge no ongoing fees and only £25 to open so you'd be saving money within a year if you switched

Markp1984

Wow no ongoing fees, how do they make money!? 

Albermarle

Markp1984 said:

Wow no ongoing fees, how do they make money!? 

They also charge for each time you buy and sell and there a few extra charges, if you have a pension rather than an ISA,  but overall very cheap.
It is a very low cost operation , with an old website and only a small number of staff.
However their ultimate owner is Lloyds bank so should be safe enough.

Markp1984

Thanks for both replies, extremely kind. 

Alexland

Is this related to Cavendish perhaps?
As standard Fidelity charge the £45 on a small account under £7.5k if you don't have a regular savings plan so you could just start a plan for £25 pm and they would revert to the percentage charge. For your account size it would be cheaper to stick to traditional OEIC funds to avoid their ETF trading fees.
iWeb might work for you if you trade very infrequently but otherwise Vanguard is well suited to a small account if you are happy with their limited investment choices.

Markp1984

That's right Alexland, I have conflicting information about the fees I'll recieve as part of the merger, so I'm going to call up fidelity this week and clarify that, if they are genuinely the same as the Cavendish ones then I'll stick with them. 
I have a bond with vanguard actually, I'll check them out too. Thanks for the excellent information.

Disjoint

Markp1984 said:

That's right Alexland, I have conflicting information about the fees I'll recieve as part of the merger, so I'm going to call up fidelity this week and clarify that, if they are genuinely the same as the Cavendish ones then I'll stick with them. 
I have a bond with vanguard actually, I'll check them out too. Thanks for the excellent information.

What did you find out? Before posting a new post in the forum I was wondering exactly this.
I have £60k with Cavendish (all my wife's retirement savings, she has no pension) - Cavendish used to be the go to choice, but now I am conflicted.

Markp1984

Disjoint said:

Markp1984 said:

That's right Alexland, I have conflicting information about the fees I'll recieve as part of the merger, so I'm going to call up fidelity this week and clarify that, if they are genuinely the same as the Cavendish ones then I'll stick with them. 
I have a bond with vanguard actually, I'll check them out too. Thanks for the excellent information.

What did you find out? Before posting a new post in the forum I was wondering exactly this.
I have £60k with Cavendish (all my wife's retirement savings, she has no pension) - Cavendish used to be the go to choice, but now I am conflicted.

Fees will remain the same as Cavendish "until at least late 2021". Told on the phone and also had it confirmed by email separately. 

DireEmblem

I am in the same boat.  I did not think Fidelity had a minimum fee.  If you just hold ETF's, then switch to a free trade platform.

AlanP_2

Disjoint said:

Markp1984 said:

That's right Alexland, I have conflicting information about the fees I'll recieve as part of the merger, so I'm going to call up fidelity this week and clarify that, if they are genuinely the same as the Cavendish ones then I'll stick with them. 
I have a bond with vanguard actually, I'll check them out too. Thanks for the excellent information.

What did you find out? Before posting a new post in the forum I was wondering exactly this.
I have £60k with Cavendish (all my wife's retirement savings, she has no pension) - Cavendish used to be the go to choice, but now I am conflicted.

Is there a reason for "she has no pension"?

Even if she is not earning she can contribute £2880 a year into a pension and HMRC will top it up to £3600, and if she will just have the SP in retirement she can use this pot to "fill" her personal tax allowance.