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Fidelity is an established investment platform with total client assets of US$584 million. It is one of the UK’s largest money managers. You can invest in a huge number of funds, trusts and shares, which we detail below.
The stocks and shares ISA lets you invest tax-free within your annual allowance. The ISA allowance for the tax years 2019/2020 and 2020/2021 is £20,000. This means that you can invest up to this amount without incurring any capital gains tax.
Fidelity’s general investment account allows you to invest outside of your annual ISA allowance. People usually go for this option if they have used their ISA allowance already. You may need to pay capital gains tax on any profit you make from your investments.
The self-invested personal pension gives you the chance to save up for your retirement with tax benefits. You can choose what you want your pension invested in and can contribute in lump sums or with regular savings.
With the junior ISA, you can kick-start your savings for your child’s future, tax-free. The JISA works the same as the stocks and shares ISA, except the allowance for the 2019/2020 tax year is £4,368 and for the 2020/2021 tax year is £9,000.
If you’re super organised, you can start investing now for your child’s retirement with the junior self invested personal pension (SIPP). All contributions are tax free up to the £3,600 allowance for the 2019/2020 tax year.
PathFinder is a collection of ready-made portfolios that might be suitable for you if you’re not sure what you want to invest in. It will choose a fund for you based on your “risk preference”. This is determined with a small quiz that asks you about your understanding of investments, how you feel about risk and your financial background.
There are two types of fund that you can invest in with PathFinder: “growth funds” and “income funds”.
Growth funds use a risk calculator and a handy tool to work out how much your investments are likely to grow over time. You can play around with the calculator to work out how cautious or adventurous you want to be, and how this impacts your investments. Once you’ve decided which one you want, you have the option between an “Expert Focus” fund and a “Cost Focus” fund.
Income funds aim to generate a steady income on your investment of between 4% and 6%.
There are three different income fund options: Defensive/Cautious Income, Balanced Income and Income and Growth.
Select 50 is a selection of, you guessed it, 50 of Fidelity’s favourite funds. It aims to take some of the overwhelm out of choosing funds to invest in, as there are thousands to choose from, by showing you funds that have the most potential to outperform in the market area.
Fidelity has analysts that narrow down the funds and measure them based on a range of metrics to get to the select fifty.
You can view them all on a list, along with yields, charges and ratings on the Fidelity website.
The investment finder lets you sort through the funds and shares that you can invest in with Fidelity. You can choose between funds, shares, exchange traded funds and investment trusts, and filter them based on your preferences.
Fidelity offers plenty of guidance to help you make investment decisions in the form of calculators, guides, videos and reviews. These aim to give you more insight into investing so that you make the right financial decisions for yourself. It’s always a good idea to do a bit of research before trying anything risky – after all, you’d rather find out with a bit of research that you need a harness when bungee jumping rather than find out the hard way.
It’s definitely worth taking a look at the calculators, as they can estimate the movements of your investments to see if you’re likely to reach your goal within your estimated timeframe.
Fidelity is authorised and regulated by the Financial Conduct Authority (FCA) which requires it to have appropriate systems and procedures when managing the business. It separates client money from its own money, so your money will not be used to pay for Fidelity’s business activities.
Your money is also protected by the Financial Services Compensation Scheme, which will cover you if Fidelity were to become insolvent.
Fidelity’s customers find its platform really easy to use and found that it had a range of products suitable for a range of different needs. Customers praised its straightforward product and helpful and friendly customer service,
Some customers complained that its fees can be quite high for some investors.
On the whole, Fidelity has plenty of products and options available whether you are an experienced investor or are just starting out. PathFinder is a nice option for those who don’t really know what they want to invest in.
Fidelity’s guidance and tools allow you to learn more about investment instead of diving in at the deep end. This is great, as you get the chance to find out more about what investing is and what you can get out of it.
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