UK Government Bonds on Fidelity

AlanP_2

https://forums.moneysavingexpert.com/discussion/comment/81856007#Comment_81856007

I must be looking at the wrong information on the AJ Bell site as I see 0.25% up to a max of £10 month so £120 year.

Fidelity max is £90 a year for exchange traded investments.

Am I missing something?

incus432

https://forums.moneysavingexpert.com/discussion/comment/81857897#Comment_81857897

You are correct - For a SIPP Fidelity are cheaper than AJBelll on the capped fee for ETFs (£90 cf £120). However dealing fees are higher (£7.50 cf £5).

For ISAs on the other hand AJBell cap at £42pa cf 90 for Fidelity.

Lowtrawler

The thing to watch out for with both AJ Bell and Interactive Investor is they display and use the clean price on valuing Gilts. For some index linked gilts, the clean price is half the dirty price and so you will see an apparent loss on the purchase you make. When you come to trade, it is always at the dirty price.

I had concerns on how Interactive Investor would value the gilts when it comes to claiming my pension commencement lump sum (PCLS). Initially, they insisted they would use the clean price. Were this to have been the case, it would have reduced my PCLS by around £20k. I had to make a complaint to the financial ombudsman where they backtracked saying they could use the dirty price. However, they didn't say they would use the Dirty price - only they could. I suspect I will need to get them to perform a special valuation on my portfolio when claiming the PCLS. This will make taking lump sums out of my SIPP more cumbersome. Something to think about, especially if you plan drawing multiple PCLS amounts.

I had contacted both AJB and HL about the same matter and both advised they would use the clean price. Hence, you may need to go to the ombudsman if they retain this stance. It is probably advisable to get the position from them in writing up front.

tigerspill

https://forums.moneysavingexpert.com/discussion/comment/81860019#Comment_81860019

iWeb / SW do the same - display only clean pricing.

LateStarter

For completeness, I'm transferring to II, as they've got gilts, and the fees are reasonable (and there's a cashback offer on at the moment). Thanks all.

LateStarter

And I've just made my first purchase of gilts on ii. The whole process went quite smoothly.