Fidelity increasing charges

skycatcher

Got a letter this morning from Fidelity saying they were increasing their charges on ISAs under £25k value to £90/yr.
My L&G European Index ISA was transferred to them last year when L&G sold that part of their business to Fidelity. Does anyone know if there's a cheaper platform to transfer this to without selling the current investment?

Thanks

masonic

Originally discussed here: https://forums.moneysavingexpert.com/discussion/6406642/changes-to-fidelity-fees-jan-feb-2023

iWeb might be worth a look, given their current incentive that negates the account opening fee, and zero ongoing charges on a S&S ISA.

skycatcher

masonic said:

Originally discussed here: https://forums.moneysavingexpert.com/discussion/6406642/changes-to-fidelity-fees-jan-feb-2023

iWeb might be worth a look, given their current incentive that negates the account opening fee, and zero ongoing charges on a S&S ISA.

Thanks...I did a search on fidelity and this thread didn't come up!

mebu60

skycatcher said:

Got a letter this morning from Fidelity saying they were increasing their charges on ISAs under £25k value to £90/yr.
My L&G European Index ISA was transferred to them last year when L&G sold that part of their business to Fidelity. Does anyone know if there's a cheaper platform to transfer this to without selling the current investment?

Thanks

I'm assuming that's your only holding with Fidelity. FYI and for anyone else, as far as I'm aware Fidelity still won't do partial ISA transfers. They've been 'looking into it' for years. 

skycatcher

mebu60 said:

skycatcher said:

Got a letter this morning from Fidelity saying they were increasing their charges on ISAs under £25k value to £90/yr.
My L&G European Index ISA was transferred to them last year when L&G sold that part of their business to Fidelity. Does anyone know if there's a cheaper platform to transfer this to without selling the current investment?

Thanks

I'm assuming that's your only holding with Fidelity. FYI and for anyone else, as far as I'm aware Fidelity still won't do partial ISA transfers. They've been 'looking into it' for years. 

Yes, only holding.... Transferred from L&G last year. Would just like cheapest platform and transfer in specie.

Albermarle

You need to check something first before transferring. Currently you are paying a platform charge to Fidelity ( the one they are increasing) and there is a charge for the fund itself.
It looks like the fund you are invested in is.
Legal & General European Index Trust - Correct?

The cost for this with Fidelity is 0.12 % which is pretty low.
If you google this fund, you can find details on Morningstar/FT/Trustnet and it says the ongoing charge is 0.5%
I think the cost with Fidelity is maybe low as part of the deal they did with L&G.

So for any possible alternative platform, you need to check first if that fund is available and with what charges.

EthicsGradient

If it's the Class I fund (I'd assume accumulation, but they have the income version too) then it's listed in the available funds for Halifax share dealing, at the same 0.12%, which (though I can't swear to this) should apply to iWeb too, being the same underlying operation: https://www.investments.halifax.co.uk/funds-centre/fund-supermarket/GB00B0CNGR59

Perhaps the 0.5% is for a different class - not "institutional" (in this case, held on a large platform).

skycatcher

EthicsGradient said:

If it's the Class I fund (I'd assume accumulation, but they have the income version too) then it's listed in the available funds for Halifax share dealing, at the same 0.12%, which (though I can't swear to this) should apply to iWeb too, being the same underlying operation: https://www.investments.halifax.co.uk/funds-centre/fund-supermarket/GB00B0CNGR59

Perhaps the 0.5% is for a different class - not "institutional" (in this case, held on a large platform).

Interesting...i searched on iweb and it didn't come up!

masonic

skycatcher said:

EthicsGradient said:

If it's the Class I fund (I'd assume accumulation, but they have the income version too) then it's listed in the available funds for Halifax share dealing, at the same 0.12%, which (though I can't swear to this) should apply to iWeb too, being the same underlying operation: https://www.investments.halifax.co.uk/funds-centre/fund-supermarket/GB00B0CNGR59

Perhaps the 0.5% is for a different class - not "institutional" (in this case, held on a large platform).

Interesting...i searched on iweb and it didn't come up!

https://www.markets.iweb-sharedealing.co.uk/funds-centre/fund-supermarket/detail/GB00B0CNGR59

EthicsGradient

It looks like it's the same search page, just with a different colour scheme, that's branded as iWeb: https://www.markets.iweb-sharedealing.co.uk/funds-centre/ (I hadn't seen this page before), and that gives the same result.

skycatcher

masonic said:

skycatcher said:

EthicsGradient said:

If it's the Class I fund (I'd assume accumulation, but they have the income version too) then it's listed in the available funds for Halifax share dealing, at the same 0.12%, which (though I can't swear to this) should apply to iWeb too, being the same underlying operation: https://www.investments.halifax.co.uk/funds-centre/fund-supermarket/GB00B0CNGR59

Perhaps the 0.5% is for a different class - not "institutional" (in this case, held on a large platform).

Interesting...i searched on iweb and it didn't come up!

https://www.markets.iweb-sharedealing.co.uk/funds-centre/fund-supermarket/detail/GB00B0CNGR59

That's it...i give up...i can find nothing... Thanks