Fidelity £45 Max ETF annual platform fee

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  • Oldspanners
    Oldspanners Posts: 3 Newbie
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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.
    This is the fee I referred too:-
    "With our SIPP, there is simply a 0.1% charge (paid to
    J.P. Morgan which is included in the price of the ETF or
    Investment Trust that you are buying or selling) for putting
    money into these investments or taking it out"
    Is this a standard fee across all platforms, or the one which is being replaced?
    I've just transferred a large pension to Fidelity, with the view to buying a world Index ETF, so that would save me a fair wedge :rotfl:
  • Sue58
    Sue58 Posts: 288 Forumite
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    Oldspanners wrote: »
    This is the fee I referred too:-
    "With our SIPP, there is simply a 0.1% charge (paid to
    J.P. Morgan which is included in the price of the ETF or
    Investment Trust that you are buying or selling) for putting
    money into these investments or taking it out"
    Is this a standard fee across all platforms, or the one which is being replaced?
    I've just transferred a large pension to Fidelity, with the view to buying a world Index ETF, so that would save me a fair wedge :rotfl:

    Fidelity at the moment are still running two different software versions for their SIPPS. The old version is 0.1 per cent charge but on the new software version it is £10 per trade.
  • Oldspanners
    Oldspanners Posts: 3 Newbie
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    Sue58 wrote: »
    Fidelity at the moment are still running two different software versions for their SIPPS. The old version is 0.1 per cent charge but on the new software version it is £10 per trade.

    Thanks for that. How do I find out what I'm on? I just found this, which implies I'm on the old system, as I'm over 54 years old:-
    "This is applicable where you opened your SIPP before 27 March 2019 and you have not received a letter from us saying that it’s been moved to our new system. Or, if you opened a SIPP after 27 March 2019 and you were over 54 years of age at that time"
    This is ageism :mad:
  • Sue58
    Sue58 Posts: 288 Forumite
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    Oldspanners wrote: »
    Thanks for that. How do I find out what I'm on? I just found this, which implies I'm on the old system, as I'm over 54 years old:-
    "This is applicable where you opened your SIPP before 27 March 2019 and you have not received a letter from us saying that it’s been moved to our new system. Or, if you opened a SIPP after 27 March 2019 and you were over 54 years of age at that time"
    This is ageism :mad:

    Sounds as if you are currently on the old software system but they are migrating everybody on to the new software system but I don’t know how long this will take. You could always send them a secure message to enquire?
  • Shedman
    Shedman Posts: 1,495 Forumite
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    Seem to be doing a big software / system upgrade between 10 and 21 July as just had a document in my account about it. May be migrating everybody across to the same software system as part of the upgrade.
  • stphnstevey
    stphnstevey Posts: 3,224 Forumite
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    People seem to be talking about SIPPs or is this GTA too?

    H&L have similar fees on shares in GTA but a much larger selection it seems than Fidelity

    What am I missing? Is it that the SIPP cheaper with Fidelity?
  • [Deleted User]
    [Deleted User] Posts: 0 Newbie
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    Not sure what a GTA is however my own situation is a sipp.
    For example £100k of ETFs, £45 annual charges with fidelity which is really low but unfortunately they don't have some of the ETFs I'm looking for whereas aj bell and Hargreaves lansdown do
  • Brian65
    Brian65 Posts: 255 Forumite
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    Why are you paying a platform fee for ETFs when x-o, Iweb (and I think even HL?) don't charge one?
  • bowlhead99
    bowlhead99 Posts: 12,295 Forumite
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    newbinvestor wrote: »
    my own situation is a sipp.
    For example £100k of ETFs, £45 annual charges with fidelity which is really low but unfortunately they don't have some of the ETFs I'm looking for whereas aj bell and Hargreaves lansdown do
    Brian65 wrote: »
    Why are you paying a platform fee for ETFs when x-o, Iweb (and I think even HL?) don't charge one?
    For a SIPP as mentioned by newbinvestor, x-o charge £119 a year, IWeb charge £180 a year (£90 a year if value is under £50k), while HL charge 0 45% capped at £200 (so £200 on an ETF value over £44,444).

    Those amounts are 100-300% more expensive than Fidelity's £45 capped platform fee for ETFs
  • Albermarle
    Albermarle Posts: 22,158 Forumite
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    "This is applicable where you opened your SIPP before 27 March 2019 and you have not received a letter from us saying that it’s been moved to our new system. Or, if you opened a SIPP after 27 March 2019 and you were over 54 years of age at that time"
    This is ageism
    I opened a SIPP with Fidelity in March ( over 54 years old ) and I was on the old system .
    I received notification and I was changed to the new system two weeks ago.
    So it will happen to you at some point .
    The main difference is that it brings the SIPP into line with its ISA and investment accounts . So you can buy shares and that the charge for buying shares/ETF's /IT's is £10 ( or £1.50 for regular) and not 0.1%
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