Fidelity £45 Max ETF annual platform fee

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[Deleted User]
[Deleted User] Posts: 0 Newbie
in Savings & investments
Fidelity have a £45 Max platform fee on ETFs.
However their ETF selection is really low, around 300 compared to 2000 on Aj Bell.

Anyone else annoyed by this?
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Comments

  • A_T
    A_T Posts: 959 Forumite
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    No. 300 is plenty to have a well-diversified portfolio.
  • Albermarle
    Albermarle Posts: 22,179 Forumite
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    If your annoyed by it, then don't use Fidelity. It is up to them how many they offer and at what charge . Then you decide which platform you prefer to use.
  • george4064
    george4064 Posts: 2,811 Forumite
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    If there is a particular ETF you would like to invest which Fidelity do not currently offer you can always get in touch with Fidelity and ask them if they will be willing to add it to their platform. Remember that they will need to consider the business case for it, carry out due diligence etc as part of the process.
    "If you aren’t willing to own a stock for ten years, don’t even think about owning it for ten minutes” Warren Buffett

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  • Oldspanners
    Oldspanners Posts: 3 Newbie
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    Fidelity also have 0.1% transaction fee for ETF's.
  • cloud_dog
    cloud_dog Posts: 6,044 Forumite
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    Oldspanners wrote: »
    Fidelity also have 0.1% transaction fee for ETF's.
    They have/are moving to a flat fee for stocks (shares, ETFs, ITs) of £10 per trade or £1.50 for regular investments.
    Personal Responsibility - Sad but True :D

    Sometimes.... I am like a dog with a bone
  • StellaN
    StellaN Posts: 354 Forumite
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    cloud_dog wrote: »
    They have/are moving to a flat fee for stocks (shares, ETFs, ITs) of £10 per trade or £1.50 for regular investments.

    Yes, it is £10 per trade and £1.50 for regular investments. I must admit that although the new website is not brilliant I can't complain at the cap of £45 and also as I went into drawdown this year it is nice not to have any charges for it. The SIPP team were more than helpful in setting it up for me on a UFPLS basis.
  • cloud_dog
    cloud_dog Posts: 6,044 Forumite
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    I have previously posted my personal frustration with the Fidelity website, and I have decided that the OH SIPP will remain with them.

    Considering they have made improvements there are still elements which frustrate the noggins out of me but.... hey ho...£45pa platform fee....whoop whoop :D

    The one thing I wish they would do is to separate out the monthly investment option in to two distinct elements. Currently you can only do regular investments from your bank account (new money). I'd prefer it if the contribution (from your bank account) could be stage 1 and then stage 2 could be the actual investment amount. Other providers have this and I found it really useful.
    Personal Responsibility - Sad but True :D

    Sometimes.... I am like a dog with a bone
  • Alexland
    Alexland Posts: 9,653 Forumite
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    We hold MSCI World SWDA in our Fidelity SIPPs and benefit from the capped £45 fee.

    We trade very infrequently but I asked them what would happen if we setup a regular SIPP investment and they confirmed that the £1.50 would be charged twice - once for investing the money you add, then again later for the HMRC topup so £81 pa total (£45 + 24x£1.50).

    Alex
  • cloud_dog
    cloud_dog Posts: 6,044 Forumite
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    Alexland wrote: »
    We hold MSCI World SWDA in our Fidelity SIPPs and benefit from the capped £45 fee.

    We trade very infrequently but I asked them what would happen if we setup a regular SIPP investment and they confirmed that the £1.50 would be charged twice - once for investing the money you add, then again later for the HMRC topup so £81 pa total (£45 + 24x£1.50).

    Alex
    Yup. I asked that when they notified us of the account migration.

    I know we are talking small(ish) potatoes but it would be 'neater' (and slightly cheaper) if the investment could be taken from the account's cash element, and the contribution / tax relief simply added to the cash element, that way you could set up a single monthly investment schedule (albeit you'd have to wait a period for the TR to be added or have cash available).

    In other accounts I have made use of the regular investment schedule for re-balancing or simply making a one-off investment, and then cancelling the regular investment schedule. It all helps :)
    Personal Responsibility - Sad but True :D

    Sometimes.... I am like a dog with a bone
  • Alexland
    Alexland Posts: 9,653 Forumite
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    cloud_dog wrote: »
    I know we are talking small(ish) potatoes but it would be 'neater' (and slightly cheaper) if the investment could be taken from the account's cash element, and the contribution / tax relief simply added to the cash element, that way you could set up a single monthly investment schedule (albeit you'd have to wait a period for the TR to be added or have cash available).

    Maybe they don't want to do this as it would cost them £18 per year in reduced fees!

    The old 0.1% was much better for the customer than the new charging. Although they have no fees for drawdown they are making £10 each month or quarter from people selling down their investments.

    Alex
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