Moving SIPP pension saving and drawdown from Fidelity to I.I. : cash or in specie in present times?

redpete

MallyGirl said:

ii do charge for trades but part of the monthly fee is a trade credit so if you don't trade often it is covered by the fee

True, but if you're transferring into a portfolio of several funds your one free trade a month won't help much.  Could be a prompt to simplify to one or two diverse funds.

dunstonh

redpete said:

MallyGirl said:

ii do charge for trades but part of the monthly fee is a trade credit so if you don't trade often it is covered by the fee

True, but if you're transferring into a portfolio of several funds your one free trade a month won't help much.  Could be a prompt to simplify to one or two diverse funds.

The vast majority of consumers do not use investments that have trading costs.   So, whilst it is a consideration for those using less mainstream options, it is not an issue for the majority.

Albermarle

hyperhypo said:

Thanks to all commenting on this....I've had second thoughts and put off this decision and cancelled my new a/c with i.i. under their 30-day cooling off period.

Perhaps another time.

If your investments with Fidelity, were 'exchange traded products' such as  ETF's or Investment trusts, then the max platform fee would be £45pa.
 Probably would not be sensible to change your whole portfolio just to take advantage of this low cap ( and they will not be direct equivalents in many cases ) but you may wish to consider a part change. For example if you had a pot of £200K and it was split 50:50 between OEIC funds and 'exchange traded products ' then the fees would be
£100K @ 0.35% + £45 . So on average about 0.2% over the £200K.

When buying the exchange traded products there is a £10 charge ( +0.5% stamp duty for the IT's) . However as long as you are not an active buyer/seller, then these charges will be minimal in the long run.