Fidelity UK platform review: what are the pros and cons?

Fidelity International is a prominent name in the investment world, offering a range of services tailored to UK investors.

This review delves into the strengths and weaknesses of Fidelity's UK platform, providing insights to help you determine if it's the right fit for your investment needs.

Fidelity: who are they? 

Fidelity International, established in 1969, is a global investment management company serving clients across the UK, Europe, Asia, and the Middle East.

With over 50 years of experience, Fidelity offers a broad spectrum of investment solutions, including mutual funds, retirement planning, and wealth management services.

Fidelity

Global investment management company

Founded

1969

Assets under management (AUM)

£663.1 billion

Fees

Fees typically start at 0.35% annually

Services

• Investment accounts

• Fund access

• Financial planning tools

• Educational content

• Customer support

Pros

• Diverse investment options

• No service fees on junior accounts

• Financial advice services

• Reputable brand

Cons

• Minimum investment requirements

• Higher fees for smaller portfolios

• Limited bond offerings

• Basic mobile app

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What does Fidelity do?

Fidelity provides a comprehensive investment platform for individual investors, financial advisers, and institutions.

Their services include:  

• Investment accounts: Including Stocks and Shares ISAs, Junior ISAs, Self-Invested Personal Pensions (SIPPs), and general investment accounts.

• Fund management: Offering access to a wide array of Fidelity-managed and third-party funds.

• Financial advice: Providing tailored advice services for investors with portfolios exceeding £100,000.

• Workplace pensions: Managing pension schemes for employers and employees.  

Fidelity's platform aims to cater to both novice investors seeking straightforward solutions and seasoned investors requiring advanced tools and diverse investment options.  

What are the pros and cons of Fidelity? 

Considering Fidelity as your financial provider?

Here are the main advantages and disadvantages to keep in mind:

The pros of Fidelity

• Diverse investment options: Access to a broad range of funds, including mutual funds, ETFs, and investment trusts.

• No service fees on junior accounts: Junior ISAs and Junior SIPPs are exempt from service fees, making them cost-effective for children's savings.

• Financial advice services: Available for investors with portfolios over £100,000, offering personalised investment strategies.

• Reputable brand: Fidelity's longstanding presence and FCA regulation instil confidence in its reliability and trustworthiness.  

The cons of Fidelity

• Minimum investment requirements: A minimum of £1,000 lump sum or £25 monthly contribution is required to open an account.

• Higher fees for smaller portfolios: Investors with portfolios under £50,000 may find Fidelity's fees less competitive compared to other platforms.

• Limited bond offerings: The platform lacks a comprehensive selection of bonds, which may deter fixed-income investors.

• Basic mobile app: The mobile application offers limited functionality, potentially impacting the user experience for on-the-go investors. 

What services do Fidelity offer? 

Fidelity's UK platform provides a suite of services designed to meet various investment needs:  

• Investment accounts: Including Stocks and Shares ISAs, Junior ISAs, SIPPs, and general investment accounts.

• Fund access: Over 2,500 investment options, encompassing Fidelity-managed funds and third-party offerings.

• Financial planning tools: Resources such as calculators and investment guides to assist in portfolio management.

• Educational content: Articles, webinars, and tutorials aimed at enhancing investor knowledge.

• Customer support: Dedicated helplines and online support for account management and investment inquiries.  

What fees do Fidelity charge? 

Fidelity employs a tiered fee structure based on the total value of your investments:  

Service fees: 

• 0.35% annually for investments up to £250,000.

• 0.20% annually for investments between £250,000 and £1 million.

• 0.20% a year for the first £1 million. No charge for investments over £1 million.

Trading fees:

• £1.50 per trade for investors with a regular savings plan.

• £7.50 per trade for those without a regular savings plan.

• £30 for share deals placed over the phone

Fund charges:

• Ongoing charges for funds start from as low as 0.05%, varying by fund.​

Notably, Fidelity does not charge service fees on junior accounts or for holding exchange-traded investments in an Investment Account.

Our expert says: Why you should look beyond financial adviser fees

"It can be daunting paying for financial advice, but it should add more value than it costs – and benefit you in the long term.

For example, optimising your pension strategy so you have a fund with lower fees and a track record of strong performance could pay dividends when you retire, although there are no guarantees.

There are other benefits as many people who received financial advice have a clearer understanding of their money goals, more confidence in retirement planning and experience lower financial stress.” 

Lisa-Marie Voneshen, Senior Content Writer

Fidelity pension review: is it right for your retirement savings?

Fidelity offers three main pension options. A self-invested person pension (SIPP), a junior SIPP, and workplace pensions.

Key strengths of a Fidelity pension

• Wide investment choice: Access to thousands of funds, ETFs, and investment trusts enables a high degree of diversification and flexibility.

• Low-cost options for larger portfolios: Tiered service fees mean investors with larger pension balances benefit from lower annual charges.

• Strong reputation and regulatory protection: Fidelity’s long-standing presence, FCA regulation, and segregation of client assets provide peace of mind for retirement savers.

Potential drawbacks of a Fidelity pension

• Higher costs for smaller pots: Investors with pension values under £50,000 may find Fidelity’s service fees less competitive than some low-cost providers.

• Basic mobile experience: While functional, the app lacks advanced features, which may limit convenience for those managing their pension primarily via mobile.

Fidelity pension verdict

Fidelity’s pensions are a strong option for investors who value flexibility, fund choice, and the backing of a trusted investment brand.

The SIPP is particularly well-suited to those with mid-to-large pension balances seeking to consolidate and actively manage their retirement savings.

While smaller investors might find the fees and mobile experience less appealing, Fidelity’s overall offering combines reliability, robust investment tools, and a clear focus on long-term retirement planning, making it a dependable choice for serious retirement investors.

What technology does Fidelity use? 

Fidelity's platform is underpinned by robust technology to ensure seamless investment experiences:  

• Sonata platform: In 2024, Fidelity invested £29 million in Bravura Solutions' Sonata platform to enhance its UK Adviser Solutions and Personal Investing platforms.

• Online access: Investors can manage their portfolios through a user-friendly web interface, offering tools for research, analysis, and account management.

• Mobile application: While functional, the mobile app is considered basic, lacking advanced features found in competitor platforms.

• Security measures: Advanced encryption and continuous monitoring safeguard user data and transactions.  

Fidelity security: is it secure? 

Security is a paramount concern for Fidelity, and the platform implements multiple measures to protect investor assets and information:  

• Regulatory compliance: Fidelity is regulated by the FCA, adhering to strict financial and operational standards.

• Client money protection: Investor funds are held separately from company assets, ensuring protection in the event of company insolvency.

• Fraud prevention: Fidelity provides resources to educate investors on common scams and offers support for reporting suspicious activities. Fidelity

• Data security: Utilisation of proven, industry-recognised security tools and processes to keep accounts and personal information secure

Does Fidelity have good customer service? 

Customer service is a critical consideration for any investment platform, and Fidelity generally receives positive feedback in this area.

Fidelity provides multiple customer support channels, including phone support, email assistance, and secure online messaging.

Telephone support lines are available during extended weekday hours, allowing investors convenient access to help when needed. 

The Fidelity customer support team is known for being professional, knowledgeable, and responsive.

Queries are typically handled efficiently, with clear communication that helps investors manage their accounts confidently.

Additionally, Fidelity offers comprehensive educational resources and FAQs on its website, empowering investors to resolve many queries independently.

However, during peak times, some investors have reported slightly longer waiting times, especially during busy tax periods, which may affect the overall customer experience. 

Overall, Fidelity's commitment to delivering quality customer service positions them well among competitors, especially for investors who value accessible and informed support.

A recent 5 star review on Trustpilot said:

Final verdict: is Fidelity right for you?

Fidelity is a solid choice for UK investors who value a wide selection of funds, strong customer support, and the reassurance of a long-established, FCA-regulated platform.

It’s particularly appealing to those with mid-to-large portfolios who can benefit from tiered fees and access to financial advice.

That said, smaller investors or those looking for a more intuitive mobile experience might find better value and usability elsewhere.

If you prioritise fund diversity, educational support, and long-term portfolio management over flashy tech features, Fidelity could be a strong fit for your investment journey.

What are the best alternatives to Fidelity?

When searching for alternatives to Fidelity, UK investors will find a selection of platforms that cater to different needs.

To identify the best options, we’ve considered factors like fee structure, investment selection, account types, user experience, and additional features.

Below are five excellent alternatives to Fidelity, each offering distinctive strengths and unique selling points for UK investors:

Get expert financial advice 

While Fidelity offers an impressive range of services and investment options, choosing the right platform should align closely with your individual financial goals and personal circumstances.

Every investor is unique, and what works for one may not be suitable for another.

Given the complexities involved in navigating investments, fees, platform features, and tax implications, it's crucial to seek professional financial advice. 

A qualified financial adviser can help you determine whether Fidelity is the right fit for your financial plan, ensuring you leverage its benefits effectively and mitigate potential drawbacks.

Expert advice can provide clarity, particularly when choosing the most suitable investment products, managing risks, or optimising your portfolio for growth and tax efficiency. 

Ultimately, combining Fidelity’s robust platform with tailored financial guidance can significantly enhance your long-term financial outcomes, ensuring your investment decisions align with your personal financial objectives and aspirations.