Fidelity www.fidelity.co.uk

Fidelity www.fidelity.co.uk
★★★☆☆
3.3
61.0% of users recommend this
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Latest Reviews

“Fidelity SIPP cash back not honoured”

★★☆☆☆

written by Hutchison99 on 10/05/2017

I opened a SIPP account for my wife to test the platform and then opened a personal SIPP and transferred in a significant sum. Part of the attraction was the cashback Fidelity offered and during the long process everytime I spoke to Fidelity I was reassured the cashback would be paid. It then transpired the Cashback offer lapsed for 2 weeks and was reintroduced in late march but they deemed my account was opened during the lapse period so would honour the offer. I decided to not invest and opened a complaint for them to review the conversations which verified I had not been told it would not be honoured but they still refused to pay the cashback offer even when the promotion is still running today! I escalated and after another 10 days of waiting and loosing gains in the market through not being invested pending the decision they again said NO. I decided to close the account and move to TD but now they have decided to hold up the transfer for 10 working days whilst a minuscule amount of £71 clears their systems. I demanded they transfer the bulk which has been in cash all these weeks but they refused, I asked for a customer service director to call me back but nothing. My conclusion is therefore: Ineffective management who do not review complaints and make poor decisions. No suitable escalation process. SIPP tax is only credited 4-6 weeks after net payments are received yet other like L&G credit it instantly, no visible customer charter, do not honour their verbal commitments, dishonestly hold back funds. The whole episode has taken weeks with me out of the market loosing money whilst equity index's increased. I cannot believe how such a large investment organisation imparts such an uncaring and dishonourable attitude to their new wealth customers and whilst I never write up reviews on companies I have been compelled to do so on this occasion. My family and friends will be steering well clear of Fidelity.

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“Takes your money but does not give you an account”

★☆☆☆☆

written by on 23/09/2016

Quite happily took £15240 pounds from me and then did not give me any account. Did send an e mail with a dead link. When I called about this got someone, obviously on an internet phone due to the poor quality of the sound, who could only tell me "the system is slow and sometimes does this". So where is my £15240, nobody's sure but the bank is sure it has been taken out of my account. I think they need to revisit how a customer would feel having signed up for an account and given them £15240 to find out nobody knows where the money has gone and that they have no account. Please, think before you introduce an online service. Fidelity is the Yahoo of the investing world.

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“Fidelity never again”

★☆☆☆☆

written by Nikog134 on 15/07/2016

I closed my ISA online on the Fidelity website in January or so I thought. I ticked the appropriate box to sell all holdings but Fidelity in their wisdom failed to sell everything. When I received a letter in May saying I would have to pay the investor fee in August I logged into my account to find there was still some money in there. I rang saying I had closed the ISA and wanted the remaining money and the ISA to be closed. I was told to write a letter which I duly did believing that was the end of it. Two weeks ago I had an email from them saying I had a private document. As I was unable to access the document online I rang again to be told I had 2p in the account. I was told I could donate the 2p to charity thus emptying the funds but they are unable to close the ISA for 6 years!!!! saying it has to be kept open should I wish to put money in again. I said this is not going to happen because I have no faith in them. It appears once they have you they certainly aren't going to let go.

Fredpettitt's Comment

Written on: 20/10/2017

I endorse these comments 100%
I started investing with Fidelity 30 year ago.It was great. Then they changed the website and it tells me every thing i don't want an never anything about my holdings.I would like
It is just the pits 0/10 and that is being generous
I want graphs of my holdings from a common base so that I can make informed judgment.
I am going to move but not sure where to.

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“Service Fee for ISAs”

★☆☆☆☆

written by Flet19 on 23/06/2016

Fidelity customer services are fine but as a company they are very poor. Their Service Fees are paid via the compulsory sale of shares from your highest value holding. Despite promising for over two years now,too many customers,that they will introduce a system that will allow the Service Fee to be paid via a cash source if a customer prefers,this still has not been actioned. Unbelievably they do not seem to have any project plan in place with dates for completion. Unacceptable for a big multi national company.

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“Fidelity UK must be sued for discrimination”

★☆☆☆☆

written by lindakberkeley on 29/04/2016

My son and I are dual nationals. We are both UK and USA citizens. I have lived in and been resident of the UK since 1974 and my son has lived in and been resident of the UK since birth. In 2006, I took out an ISA with Fidelity. Now, they tell me to take my money and get out of their organisation because I am a dual national – “A US person”. My son wanted to open an ISA with them and has been told the same thing – they refuse to allow him to open an ISA account as he is “A US person”. The UK Government clearly states that ISAs are available to anyone who is resident in the UK, regardless of nationality. Therefore, by discriminating against USA citizens and discriminating against dual nationals who are both UK and USA citizens and reside in the UK, Fidelity is breaking the law. I asked them for their rationale for breaking the law and they refused to answer the question. Do you remember the days of signs saying “No dogs and No Irish”? This sign says “No Americans”. I refuse to be ashamed or to hide the fact that my son and I are dual nationals. We are honest people who have not committed crimes. We have done nothing wrong. Fidelity UK and other organisations taking this position deserve to be sued for discrimination, punished, and to give compensation to victims of their discriminatory, racist behaviour.

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“Sell funds one day and get value 3 days later...”

★☆☆☆☆

written by davidelong on 08/09/2015

Please, please don't make the same mistake as me and deal with these people. They do not care and will be honour there errors. I converted all of my funds before 8am on 21/8/2016 to cash as the market was not performing well. As some of you may be aware the market completely fell apart on this Friday and the following Monday. I rang Fidelity on the Tuesday to ensure my funds had been sold on the Friday as requested. They said NO you will get today's price. That's days price was £10,000 less than the value on the Friday. I asked what had happened. "Your standing order hadn't cleared so we couldn't sell". That's strange I said my standing order was only for £1,000 and it went through on the 10th August, its' not the 25th and it hasn't cleared? So why didn't you sell £141,000 of my shares and left the £1000 to transfer later. So I raised a complaint to get my £10,000 back and guess what all I get is other excuses and a flat no, with the "System says no". I could go on, but I have already had one heart attack and don't need the stress of getting wound up by going on! So please, please, please use someone else who cares and who does the job of looking after your money.

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“Kludgy systems, weak procedures, careless and uncaring...”

★★☆☆☆

written by leyanda on 01/08/2015

Within the past 12 months they've managed to purchase the wrong fund (even though done on-line), taken months to correct it with no explanation of how any correction was applied, taken fees from the wrong account, used the wrong account for drawdown, not followed through a formal complaint (customer service rep "Oh, I'm not handling that any more"). They clearly have issues with multiple computer systems trying to talk to each other with occasional gaps in information, not just on the SIPP but also on the ISA accounts (either mine or my wife's). On-line questions or queries go unanswered or are skirted around. If you use their secure messaging keep a copy of what you wrote as they do not have an "outbox" so you only see your query if they bother to respond. Instead of spending my time focussing on which investments I am increasingly spending time fighting the system which is providing for my retirement. Spend your platform fees elsewhere. I've held off going public but an incorrect sale of funds today is a final straw.

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“Waste of time”

★☆☆☆☆

written by twWright258 on 12/01/2015

I have just received a statement. The return I had is nothing less than diabolical. I know the markets have been slow until recently, but the return does not reflect the upturn of a few months ago. I might just have well put my money under the mattress!!!

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“Web Site Slow”

★★★★☆

written by AJ46 on 23/12/2014

I have used the Fidelity supermarket for a few years, it is indeed slow at times and takes some time to learn to navigate. To just check my fund prices i use the HL site which is so much quicker. On the plus side the helpline is superb with operators extremely helpful and pleasant however trivial the enquiry-well done

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“Mis-sold Fidelity Pension SIPP Standard Life - not fee...”

★☆☆☆☆

written by Hale300 on 29/05/2014

I took out a Fidelity Personal Pension Sipp provided by Standard Life pre-2010, as all marketing literature, key features docs etc clearly stated free annual administration charge/fee (other than the annual fund management charge, as applied by funds (chosen from over 1200 funds) I selected, but taken by each particular fund manager before the daily fund unit price is published). As well as the key offer docs I still have a copy of a newspaper advert they placed at the time - it says "current special offer: no charges for this pension plan wrapper for life". They increasingly post all manner of marketing literature to me with application forms for ISAs, pension products even though I have one already, and in 2011 a letter apologising for a previous letter stating the fees would increase from January 2012. It went on to state "...there are no set-up fees, administration charges or initial fund charges and it is our intention to keep it that way." Imagine my surprise when this year they advise me they will now charge me an annual management charge of 0.35% (by removing actual units). This they say is based on the availability of 'clean' lower cost funds whose unit prices will therefore be higher than the 'bundled' version of those funds that I'm currently invested in. The fact is however, I've observed over the years that fund managers' fund charges (individually and on average as a group)are not fixed and for many, at times have been both higher and/or lower than currently, ie they tend to change. Bottom line is my arrangement with Fidelity was that they will never themselves levy a charge on my funds, and this has been the actual in practice (ie they've never removed units from my funds), but now they want to change a fundamental part of that agreement by charging a fee (0.35% / year) which is unacceptable. Over time I've noticed they interchange the words "administration", "service", "management" when paired with the words "annual" and "charge" seemingly whenever they fancy, presumably to create confusion, although the newspaper add said "no charges for this pension plan wrapper for life" which seems pretty clear to me!

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“Terrible website”

★☆☆☆☆

written by OmarBurton on 24/03/2014

If you are thinking of using this website on an occasional basis then make sure you write down ALL your numbers and passwords. Get it wrong and it locks you out and unlocking is a nightmare. They are uncommunicative, unhelpful and unreasonable. Take your money elsewhere.

Fidelity's Comment

Written on: 24/03/2014

1) I am sorry to hear of the difficulty you are having using our website and for any unhelpful service you have received. This is of course a cause for concern and we will be grateful if you can contact us on the number below with further details for us to address your complaint. With regard to our website, if your login details are incorrectly entered on three successive attempts, for security reasons, the log in details are blocked. If you have not done so already, you can follow the steps detailed on our site to regain access into your account, or please call us. We are open Monday to Friday from 8.00 a.m. to 6 p.m, Saturday 9 a.m. to 6 p.m.
Fidelity

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“Website can be slow to the point of being non-functional”

★☆☆☆☆

written by on 17/01/2014

I recently signed up for an ISA via Cavendish Online, which uses Fidelity/Funds Network as their platform. Unfortunately the website slows to a crawl sometimes, to be point where I can't even view my holdings, let alone arrange any transactions. This does not bode well - in any period of high market flux the site would get even busier, meaning customers would be unable to buy/sell. They could stand to lose large sums of money because of this. For this reason, I cannot recommend Fidelity/Funds Network as a platform for investments. Problem number 2 is that they were unable to verify my identity electronically, despite me having two credit cards and a debit card registered to the address I signed up with, as well as a Ltd company. In fairness to them, this is a problem at the Experian end rather than theirs, though it's worth mentioning as it has meant that... (a) I can't withdraw/transfer any of the money I invested initially (b) I can't make regular monthly investments until this is resolved (c) I need to visit the British Consulate in the country I'm in, because I'm abroad and they only accept a passport as ID via post, which is not feasible because I'm abroad for 7 months Not particularly happy so far, so I'd exercise caution before giving them your money.

Fidelity's Comment

Written on: 20/01/2014

Hi,
Thanks for your feedback. We have had problems our website from the end of last week. We were working on the issue over the weekend and it was resolved this morning. I’m very sorry for the problems that you have experienced.

On your second point, regarding confirming your identify – please give our customer support centre a call as they may be able to help you further on this issue.

Alternatively, email me your contact details and I’ll arrange for someone from our customer support team to contact you directly.

Many thanks Fidelity Social Media Team.

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“Fidelity does not allow Partial ISA Transfers”

★☆☆☆☆

written by gallagtj on 11/12/2013

Fidelity blocks partial ISA transfers which I learn't when trying transfer some of my ISA funds to another platform. So beware once your money is in Fidelity funds supermarket it locked in unless are prepared to move it all out. My recommendation is do not put all your ISA eggs in the Fidelity ISA basket.

Fidelity's Response to gallagtj's Review

Written on: 16/12/2013

I am sorry that you are disappointed that you can’t complete partial transfers from our platform. In October 2012, we made the decision to no longer process partial ISA transfers and our Terms and Conditions were updated to reflect this.

Should you wish, you could make a partial withdrawal; although that would mean loosing your ISA status.

If you wish to discuss this further, please feel free to call our support team on so that we can discuss your personal circumstances.
Fidelity Personal Investing

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Gallagtj's reply to Fidelity's Comment

Written on: 17/12/2013

Could it be that you put your business interests before those of your clients. All Fidelity competitors allow partial transfer of ISA's.

Could this be an entrapment policy?

Look what the Fidelity ISA transfer guide says.

Can I re-register my existing or new Fidelity investments to another provider or fund supermarket?

Yes you can re-register any funds held inside or outside an ISA account to another fund supermarket if they offer those funds. However, please note if you also have non-Fidelity funds within your ISA account you will need to move these as well as you must re-register your whole account.

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Kum200's reply to Fidelity's Comment

Written on: 09/12/2015

I've recently raised exactly the same complaint as the customer above.

As suggested by The Financial Ombudsman, I've asked your team in writing where in your Terms & Conditions your policy of not providing customers the opportunity to withdraw individual ISAs is stated. This information should be clearly and explicitly provided before customers like myself entrust Fidelity with their money - but it is not. To this day, I have been ignored by your customer services team and thus will have to raise an official complaint.

This is not the way to treat customers, Fidelity.

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Gallagtj's reply to Kum200's Comment

Written on: 09/12/2015

Fidelity stated business reasons why they changed their T%C's in October 2012 and you can bet your life that IFA's did not pass this implication on to their clients. Mine did not and nor did my Fidelity wealth advisor forewarn me of the implications of my many ISA accounts I accumulated over the years.

I no longer invest with Fidelity or use an IFA, lack of trust in who's interests are they serving being the main reason.

We all have to learn the hard way.

Good luck in your complaint

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“No Way!”

★★★★★

written by on 23/08/2013

just been on their web site - I was looking for details on ISA's and a specific fund On one of their menus I saw a box talking about being able to like a fund, just like facebook What an idea! I've been a few funds now, for a few years, that have done well. I'll be honest, some of the stuff on investment web sites about funds confuses me, I understand the stars but thats about it. But being able to say what I like and see what other people like thats what I like I use review sites - I wont stay at a hotel unless I read tripadviser - you need at least 4 stars on amazon to get my money - so this is spot on

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“No response and lack of courtesy”

★☆☆☆☆

written by on 12/08/2013

I e mailed Fidelity two weeks ago with a simple query. I immediately received an automated response indicating that the company would respond within 2 working days. To date I've received nothing at all. This does not give me confidence in investing my money with them. I will be taking my buisness else where.

Fidelity's Comment

Written on: 16/08/2013

We are sorry to learn that you have not received a reply to your enquiry with Fidelity, we do aim to respond quickly. As we can’t identify you from this review, would you please call our Investorline Team, between the hours of 09:00 and 18:00 Monday to Saturday, and we will be more than happy to help you.

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“Great Website”

★★★★☆

written by TonyTrevors on 08/08/2013

Not what you expect from a financial company. Easy to use, clear, I love the calculators. This made choosing my ISA really easy, I was scared about selecting a fund but there was no reason, the PatFinder tool was brilliant. We'll see what the service is like, but I'm currently a fan.

Fidelity's Response to TonyTrevors's Review

Written on: 16/08/2013

Morning, thanks so much for your message. I'm really pleased that you like it. We've spent a lot of time, testing and customer research to try and tailor it for investors' needs. I'll pass your feedback onto the team.
Yes we do have a number of elements in the pipeline for release very soon.
If you do have any suggestions for improvements at any time, we'd love to hear them.
Many thanks
Fidelity Social Media Team

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“Lost allot of money with Fidelity through Andrew Bolton”

★☆☆☆☆

written by on 11/07/2013

I was called a few years ago and sold a perfect investment. Andrew Bolton, an award winning fund manager in the UK was going to China to start a new Asia focused fund - and I was getting in now while the fund was just starting. I would be quids in!! No, it turns out Mr Bolton is great at running investment funds in the Uk BUT not in Asia,where it appears he has had issues investing in companies with funny histories, shall we say In the end the fund is now way down on any benchmark set and I have lost allot of money Thanks Fidelity and extra thanks goes to Mr Bolton - stick to playing the piano!!

Fidelity's Comment

Written on: 08/08/2013

Thanks for your message. Have you seen any of the recent announcements regarding the latest performance of the Trust or the change in fund manager?

We’d really like the opportunity to talk to discuss this with you, so please could you call us.

Best wishes
Fidelity Worldwide Investment

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“Fidelity took 8 weeks to send my re-registration request”

★☆☆☆☆

written by on 21/06/2013

Fidelity originally (after 4 weeks) could not locate my paperwork then took another 4 weeks to send it (only after another reminder). I am still waiting for their account manager to explain why this delay occurred despite repeated reminders via my agent (Cavendish). I was promised a letter explaining the reason for the delays over 1 week ago. I would point out that Cavendish have been very prompt in responding to my update requests. It is a pity they use Fidelity as I do not think I will be using Fidelity again. As we are living in a time with very volatile stock markets delays in processing requests can be very costly and Fidelity certainly have not shown any urgency in dealing with my requests.

Fidelity's Comment

Written on: 12/07/2013

I’m sorry for the problems that you have experienced.

At the beginning of January 2013, in response to the Retail Distribution Review (RDR), changes were implemented to the re-registration process in order to make it more efficient and accessible to customers. Fund providers and investment platforms were required to be able to move their clients' investments without any barriers. We, and all other fund providers, were obliged to put in place the processes, procedures and people to handle this new process. As a direct consequence of this, we have seen a dramatic increase in the volume of re-registration applications received and this, in part, may be attributed to the delay in completing some re-registrations. This additional volume put a large amount of pressure on us, and regrettably, we did experience an instance where client applications were not electronically scanned to their accounts correctly. This issue has now been resolved and we are confident that we now have sufficient controls and mechanisms in place to ensure that transfers and re-registrations are processed in a timely manner. We are very sorry if you were impacted by this.

We usually aim to complete the re-registration process within four to six weeks; however, due to this industry wide problems that we have encountered some of our clients have suffered delays.

Unfortunately, we are unable to locate your accounts until we identify you. We would like to discuss this and try to resolve the issues you have experienced. Please call our Customer Relations team and we will be more than happy to help you.

Best wishes

Fidelity Worldwide Investment

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“Nightmare transfer out from Fidelity”

★☆☆☆☆

written by greengrass11 on 23/04/2013

I applied in Jan.'13 to transfer my complete ISA holdings from Fidelity to Hargreaves Lansdown. So far only one in house Fidelity fund has been transferred, this happened quickly by the end of Jan. I was expecting the process to take around six weeks but so far no further funds have been transferred. HL have been chasing them, as have I. They have given so many different dates to both HL and myself re the sending out of the stock transfer forms that it is hard to believe anything they tell me now. I made an official complaint to them over a month ago and have received a letter a few days ago stating that they were not in a position to explain why there was such a delay. As I hold ten funds with seven different providers and not one stock transfer certificate has been returned to Fidelity,I feel that on the law of averages that this problem is firmly at Fidelity's feet. On contacting them at customer services for complaints on the phone number provided in the last letter, I was told that they could not deal with re-registration problem, and no I could not be put through to them, but someone would phone me to discuss the problem from that dept. within a day - I have not received a call. If nothing has been resolved I can complain to the FSA ombudsman in three weeks time, all I want is the ISA's to be re-registered with Hargreaves Lansdown, a simple task you would think. Hargreaves themselves have told me they have several clients who are in the same boat all coming over from Fidelity, so BEWARE!!

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“Fidelity ISA .......... could be better!”

★★★★☆

written by taurustime on 16/04/2013

I opened a Fidelity ISA in order to utilise the Stocks and Shares half of my annual ISA allowance for the 2012/2013 financial year. I traded an investment on April 04, 2013, just under the wire for the 2012/2013 Tax Year. Whilst the procedure was relitevly straightforward, the follow up in terms of documentation and access to my account was less so. There does not appear to be a factsheet of any kind to advise you of the delays which will take place between your trade and your subsequent online access to your holdings. Indeed, I have only been able to set up my online access today, 12 days after my trade. However, now that my online access has been registered, I fully intend to make use of their current 50% discount on Annual Management Charges, valid until April 30, 2013 for the 2013-2014 Tax Year, particularly now that I know how their procedures actually operate.

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