Fidelity Cashback offer for transfer of ISAs, SIPPs or Investment accounts

masonic

cloud_dog said:

I see Fidelity have a new cashback offer back in play, until 10 November 2025.  Not as generous as the offer which ended in March this year but their offer(s) do include contributions as well as transfers.

I only noticed it as I was following up on why our child's SIPP service fee had reduced.  It's obviously a freebie benefit of me transferring a SIPP to them and now having more than their £250k level across the household, which is a nice feature TBH, and also removes the need for me to consider the conundrum of them continuing to pay the 0.35% fee but retaining the protected access age of 55   So, it can stay with them for now.

And there I was getting ready to transfer my SIPP to InvestEngine from HL. This looks a little too tempting to pass up. An 18 month lock-in, so only committing to £135 of platform fees (as long as they don't hike them). It doesn't look like there are any exclusions for those who have taken up an incentive before.

artyboy

masonic said:

cloud_dog said:

I see Fidelity have a new cashback offer back in play, until 10 November 2025.  Not as generous as the offer which ended in March this year but their offer(s) do include contributions as well as transfers.

I only noticed it as I was following up on why our child's SIPP service fee had reduced.  It's obviously a freebie benefit of me transferring a SIPP to them and now having more than their £250k level across the household, which is a nice feature TBH, and also removes the need for me to consider the conundrum of them continuing to pay the 0.35% fee but retaining the protected access age of 55   So, it can stay with them for now.

And there I was getting ready to transfer my SIPP to InvestEngine from HL. This looks a little too tempting to pass up. An 18 month lock-in, so only committing to £135 of platform fees (as long as they don't hike them). It doesn't look like there are any exclusions for those who have taken up an incentive before.

I've been keeping my eye out for Autumn offers as I'll have about £1m free of tie ins in the next month, so looking for my next moves. 

As always, the cashback isn't linear with this offer so I think the £1000 for a £250k transfer is my sweet spot here. Hopefully here will be others to follow. 

The point about fees is very important though, given that is precisely what Charles Stanley did shortly after my last transfer in - they upped the monthly fee cap on shares/ETFs from £20 to £50 (and they really buried that as being a 'good news' announcement), so definitely something to watch...

easysaver

The cashback offer ends on 10th November. Rather irritating given my existing tie in ends early December.

Albermarle

masonic said:

cloud_dog said:

I see Fidelity have a new cashback offer back in play, until 10 November 2025.  Not as generous as the offer which ended in March this year but their offer(s) do include contributions as well as transfers.

I only noticed it as I was following up on why our child's SIPP service fee had reduced.  It's obviously a freebie benefit of me transferring a SIPP to them and now having more than their £250k level across the household, which is a nice feature TBH, and also removes the need for me to consider the conundrum of them continuing to pay the 0.35% fee but retaining the protected access age of 55   So, it can stay with them for now.

And there I was getting ready to transfer my SIPP to InvestEngine from HL. This looks a little too tempting to pass up. An 18 month lock-in, so only committing to £135 of platform fees (as long as they don't hike them). It doesn't look like there are any exclusions for those who have taken up an incentive before.

I note though that the offer only applies to SIPPs. In the past it also included S&S ISAs, but not this time.
You previously could reach a target figure by transferring SIPP and ISA funds and they all counted to the final total. 

masonic

Albermarle said:

masonic said:

cloud_dog said:

I see Fidelity have a new cashback offer back in play, until 10 November 2025.  Not as generous as the offer which ended in March this year but their offer(s) do include contributions as well as transfers.

I only noticed it as I was following up on why our child's SIPP service fee had reduced.  It's obviously a freebie benefit of me transferring a SIPP to them and now having more than their £250k level across the household, which is a nice feature TBH, and also removes the need for me to consider the conundrum of them continuing to pay the 0.35% fee but retaining the protected access age of 55   So, it can stay with them for now.

And there I was getting ready to transfer my SIPP to InvestEngine from HL. This looks a little too tempting to pass up. An 18 month lock-in, so only committing to £135 of platform fees (as long as they don't hike them). It doesn't look like there are any exclusions for those who have taken up an incentive before.

I note though that the offer only applies to SIPPs. In the past it also included S&S ISAs, but not this time.
You previously could reach a target figure by transferring SIPP and ISA funds and they all counted to the final total. 

Yes, though the silver lining is it leaves my S&S ISA free to use for another offer. I'm less concerned about leaving that with HL for the time being, but I wouldn't want to keep paying their monthly SIPP fee.

artyboy

masonic said:

Albermarle said:

masonic said:

cloud_dog said:

I see Fidelity have a new cashback offer back in play, until 10 November 2025.  Not as generous as the offer which ended in March this year but their offer(s) do include contributions as well as transfers.

I only noticed it as I was following up on why our child's SIPP service fee had reduced.  It's obviously a freebie benefit of me transferring a SIPP to them and now having more than their £250k level across the household, which is a nice feature TBH, and also removes the need for me to consider the conundrum of them continuing to pay the 0.35% fee but retaining the protected access age of 55   So, it can stay with them for now.

And there I was getting ready to transfer my SIPP to InvestEngine from HL. This looks a little too tempting to pass up. An 18 month lock-in, so only committing to £135 of platform fees (as long as they don't hike them). It doesn't look like there are any exclusions for those who have taken up an incentive before.

I note though that the offer only applies to SIPPs. In the past it also included S&S ISAs, but not this time.
You previously could reach a target figure by transferring SIPP and ISA funds and they all counted to the final total. 

Yes, though the silver lining is it leaves my S&S ISA free to use for another offer. I'm less concerned about leaving that with HL for the time being, but I wouldn't want to keep paying their monthly SIPP fee.

If you do see a decent S&S ISA transfer offer then please share, as I'm on the hunt as well!

artyboy

easysaver said:

The cashback offer ends on 10th November. Rather irritating given my existing tie in ends early December.

Well... I had the same issue earlier this year with CMC, but strung it along for about a month by 'accidentally' mistyping the (in this case HL) account number during the transfer application. The point is that as long as you get the process started by the deadline, and ensure that the transfer doesn't happen until after the tie in ends with the donor account, then you're golden.

A bit naughty perhaps, but pension transfers are often not exactly lightning fast. Especially if either party doesn't use Origo...

Albermarle

artyboy said:

easysaver said:

The cashback offer ends on 10th November. Rather irritating given my existing tie in ends early December.

Well... I had the same issue earlier this year with CMC, but strung it along for about a month by 'accidentally' mistyping the (in this case HL) account number during the transfer application. The point is that as long as you get the process started by the deadline, and ensure that the transfer doesn't happen until after the tie in ends with the donor account, then you're golden.

A bit naughty perhaps, but pension transfers are often not exactly lightning fast. Especially if either party doesn't use Origo...

A transfer from Aviva to Fidelity took less than 48 hours ( not sure of the exact time as I was not checking every hour !)

vacheron

artyboy said:

masonic said:

cloud_dog said:

I see Fidelity have a new cashback offer back in play, until 10 November 2025.  Not as generous as the offer which ended in March this year but their offer(s) do include contributions as well as transfers.

I only noticed it as I was following up on why our child's SIPP service fee had reduced.  It's obviously a freebie benefit of me transferring a SIPP to them and now having more than their £250k level across the household, which is a nice feature TBH, and also removes the need for me to consider the conundrum of them continuing to pay the 0.35% fee but retaining the protected access age of 55   So, it can stay with them for now.

And there I was getting ready to transfer my SIPP to InvestEngine from HL. This looks a little too tempting to pass up. An 18 month lock-in, so only committing to £135 of platform fees (as long as they don't hike them). It doesn't look like there are any exclusions for those who have taken up an incentive before.

As always, the cashback isn't linear with this offer so I think the £1000 for a £250k transfer is my sweet spot here. Hopefully here will be others to follow. 

£250K Could be a double sweet spot too if I am reading their fees correctly?

https://www.fidelity.co.uk/services/sipp/#accordion-9bdbbaaa

*0.35% service fee applies if you have a regular savings plan or have more than £25,000 invested. Otherwise, a £7.50 per month service fee applies. There will also be investment charges set by the companies and funds you’re investing into which sit outside of our service and dealing fees. 0.2% service fee applies to accounts with over £250,000 invested, and applies to the total value of your investments.

GeoffTF

vacheron said:

artyboy said:

masonic said:

cloud_dog said:

I see Fidelity have a new cashback offer back in play, until 10 November 2025.  Not as generous as the offer which ended in March this year but their offer(s) do include contributions as well as transfers.

I only noticed it as I was following up on why our child's SIPP service fee had reduced.  It's obviously a freebie benefit of me transferring a SIPP to them and now having more than their £250k level across the household, which is a nice feature TBH, and also removes the need for me to consider the conundrum of them continuing to pay the 0.35% fee but retaining the protected access age of 55   So, it can stay with them for now.

And there I was getting ready to transfer my SIPP to InvestEngine from HL. This looks a little too tempting to pass up. An 18 month lock-in, so only committing to £135 of platform fees (as long as they don't hike them). It doesn't look like there are any exclusions for those who have taken up an incentive before.

As always, the cashback isn't linear with this offer so I think the £1000 for a £250k transfer is my sweet spot here. Hopefully here will be others to follow. 

£250K Could be a double sweet spot too if I am reading their fees correctly?

https://www.fidelity.co.uk/services/sipp/#accordion-9bdbbaaa

*0.35% service fee applies if you have a regular savings plan or have more than £25,000 invested. Otherwise, a £7.50 per month service fee applies. There will also be investment charges set by the companies and funds you’re investing into which sit outside of our service and dealing fees. 0.2% service fee applies to accounts with over £250,000 invested, and applies to the total value of your investments.

Fidelity's tariff of charges is not clear, but it appears that the total service charge for an ETF SIPP is capped at £7.50 per month (£90 per year). It is not clear whether you can use the regular savings plan to make a single payment and then cancel it, as you can with some other platforms.

https://www.fidelity.co.uk/services/charges-fees/

That is a lot less than the £500 for a £250K SIPP. The £2,000 free for a £1 million SIPP is eye watering.