Fidelity SIPP Review – An Honest Assessment

by | Jan 29, 2024 | SIPP Reviews

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In this comprehensive Fidelity SIPP review, we will delve into the features, benefits, and performance of this do-it-yourself SIPP investment platform. 

Key Takeaways:

  • Fidelity SIPP is a DIY investment platform.
  • Fidelity offers a wide range of investments, including funds, shares, ETFs, and investment trusts.
  • Fees are competitive, but not the cheapest on the market.
  • The app and platform are great.
  • Customer service and support is good, but not the best.
  • Customer reviews of Fidelity vary, with some praising the website and customer service, while others criticise the long processing times and lack of communication.

Fidelity SIPP Investment Options

When it comes to investment options, Fidelity SIPP doesn’t disappoint, offering a diverse selection of funds, shares, ETFs, and investment trusts – they are among the best options on the market for pure investment choice.

Whether you’re a seasoned investor or just starting out, Fidelity provides a range of choices to suit your investment goals and risk tolerance.

From actively managed funds to index trackers, Fidelity offers over 3,000 funds from renowned fund managers and covers various asset classes, including equities, fixed income, and multi-asset.

In addition to funds, Fidelity SIPP also provides access to a wide range of shares listed on major stock exchanges. 

Whether you’re interested in investing in large-cap blue-chip companies or small-cap growth stocks, Fidelity’s share dealing service allows you to trade in real-time and take advantage of market opportunities.

For those looking for more specialised investments, Fidelity SIPP offers access to a range of investment trusts and exchange-traded funds (ETFs). 

Investment trusts provide exposure to specific sectors or regions, while ETFs offer a low-cost way to invest in a basket of securities, mirroring the performance of an index.

Investment OptionsDescription
FundsChoose from a wide variety of funds across different asset classes and investment strategies.
SharesAccess a range of shares listed on major stock exchanges and build a diversified equity portfolio.
ETFsInvest in ETFs to gain exposure to specific sectors or indices at a lower cost compared to actively managed funds.
Investment TrustsExplore investment trusts for specialised investment opportunities, including sector-specific or region-specific investments.

With Fidelity SIPP, you’ll have the flexibility to choose the investment options that align with your investment strategy and preferences. 

Whether you prefer to take a hands-on approach to investing or seek the guidance of a financial adviser, Fidelity offers a range of tools and research options to help you make informed investment decisions.

Fidelity SIPP Fees and Charges

As with any investment platform, understanding the fees and charges is crucial, and we’ll break down the Fidelity SIPP costs in this section., and later compare them to others on the market.

Fidelity SIPP offers a clear and transparent fee structure, ensuring investors have a clear understanding of the charges associated with their accounts. There are two main charges to consider with Fidelity SIPP: the annual account fee and the trading charges.

The annual account fee for a Fidelity SIPP decreases as your account balance increases. 

The fee starts at 0.35% for accounts with a balance up to £250,000 and gradually reduces to 0.2% for balances above £1 million. It’s also capped at £2,000 per year, so once you have £1,000,000 invested, your fee won’t get any higher.

It’s important to note that the annual fee is calculated daily and charged monthly, ensuring you only pay for the services you use.

In addition to the annual account fee, Fidelity SIPP also charges trading fees for buying and selling investments. The trading fees vary depending on the type of investment and the currency involved.

Fidelity SIPP Fees Summary:

Account BalanceAnnual Account Fee
Up to £250,0000.35%
£250,001 – £1 million0.2%
Above £1 million0.2% (capped at £2,000 per year)

And when it comes to trading charges, here’s a quick summary:

  • £1.50 for deals as part of a regular savings or withdrawal plan, or for automatic reinvestment of a dividend.
  • £7.50 for a hoc trades online

These aren’t the cheapest available – but it’s cheaper than other options such as Hargreaves Lansdown.

It’s also free to buy and sell funds, as it is with many (but not all) SIPP providers.

How Fidelity’s SIPP Fees Compare

Use our calculator below to get an understanding of how Fidelity’s SIPP fees compare to other options on the market.

Simply enter your estimated SIPP value (split by funds and equities) and you get a rough estimate on the fees from each provider.

Fidelity SIPP Performance and Benefits

The performance of the Fidelity SIPP will depend on the investments you hold within it, which is up to you and your investment strategy.

A key benefit of the Fidelity SIPP is the investment choice as it allows you to tailor your investment portfolio to your risk level and try to achieve the performance levels you desire.

If you need help with deciding what to invest in, we recommend speaking to a financial advisor or looking at a ‘robo-advisor’ SIPP that manages your investments for you – learn more here.

With the Fidelity SIPP, you can access a diverse range of funds, shares, ETFs, and investment trusts, giving them the flexibility to create a well-rounded investment portfolio. This wide range of options allows you to tailor your SIPP to your individual investment goals and risk appetite, ensuring you have the best chance of achieving your financial objectives.

Benefits of Fidelity SIPP
1. Diverse investment options
2. Strong potential investment performance
3. Access to expert research and tools
4. Competitive fees and charges
5. Excellent customer service

Furthermore, Fidelity SIPP provides access to a range of expert research and tools, helping you make informed investment decisions. 

From expert fund selections to a sustainable investment finder, these tools can empower you to navigate the complex world of investing with confidence.

Fidelity SIPP Tools and Research Options

Fidelity SIPP goes beyond being a mere investment platform, offering a range of tools and research options that empower investors. 

Expert Fund Selections

With Fidelity’s expert fund selections, you can gain access to a curated list of top-performing funds. These selections are carefully chosen by experienced investment professionals, saving you time and effort in researching and selecting funds yourself. Whether you’re looking for growth, income, or a combination of both, Fidelity’s expert fund selections have you covered.

Sustainable Investment Finder

Fidelity is committed to helping investors align their portfolios with their values. Their sustainable investment finder allows you to search for funds and companies that prioritise environmental, social, and governance (ESG) factors. Whether you’re passionate about clean energy, gender equality, or responsible corporate practices, Fidelity’s sustainable investment finder makes it easy to invest in a way that reflects your beliefs.

Tool/Research OptionDescription
Expert Fund SelectionsCurated list of top-performing funds chosen by investment professionals.
Sustainable Investment FinderSearch for funds and companies that prioritise environmental, social, and governance factors.

Customer Reviews and Safety of Investing with Fidelity SIPP

To complete our comprehensive Fidelity SIPP review, we’ll examine customer reviews and the safety measures in place to provide peace of mind for investors. Customer feedback plays a crucial role in assessing the overall satisfaction and reliability of any investment platform, and Fidelity SIPP is no exception.

Customer reviews of Fidelity SIPP vary, reflecting a range of experiences with the platform. While some investors praise the user-friendly website and the professionalism of the customer service team, others have expressed frustration with long processing times and a lack of communication. It’s important to consider these mixed reviews when evaluating the overall customer experience.

Despite the varying opinions, one aspect remains clear – Fidelity SIPP is considered a good-value option for those with larger portfolios. 

The platform provides access to a wide range of accounts and services, including advisory services, general investment accounts, income drawdown, SIPPs, savings accounts, and stocks and shares ISAs. 

With this breadth of options, investors have the flexibility to tailor their pension planning to meet their individual goals and preferences.

When it comes to safety, Fidelity SIPP takes its responsibilities seriously. 

The platform is regulated by the Financial Conduct Authority (FCA), ensuring compliance with industry standards and providing an additional layer of protection for investors. 

Furthermore, Fidelity SIPP is covered by the Financial Services Compensation Scheme (FSCS), which provides compensation up to a certain limit in the event of the platform’s insolvency.

As you navigate the world of pension planning, it’s vital to weigh the pros and cons, taking into account both customer reviews and the safety measures in place. Ultimately, finding the right investment platform that aligns with your financial goals and offers a secure environment is key to a successful retirement strategy.

FAQ

Q: What is a Fidelity SIPP?

A: A Fidelity SIPP is a Self-Invested Personal Pension that allows individuals to take control of their pension investments and make their own investment decisions.

Q: What services are offered by Fidelity?

A: Fidelity offers a range of accounts and services, including advisory services, general investment accounts, income drawdown, SIPPs, savings accounts, and stocks and shares ISAs.

Q: What investment options are available on the Fidelity SIPP platform?

A: Fidelity offers a wide range of investment options, including funds, shares, ETFs, and investment trusts.

Q: What are the charges associated with a Fidelity SIPP?

A: The charges for a Fidelity Stocks and SIPP include annual charges and trading charges. These charges are clearly communicated to customers.

Q: What do customer reviews say about Fidelity SIPP?

A: Customer reviews of Fidelity SIPP vary, with some praising the website and customer service, while others criticise the long processing times and lack of communication.

Q: Is Fidelity SIPP considered a good-value option?

A: Fidelity SIPP is considered a good-value option for those with large portfolios, although it received a low customer score in a survey.

Q: What tools and research options are available on the Fidelity SIPP platform?

A: Fidelity SIPP offers various tools and research options, including expert fund selections and a sustainable investment finder.

Q: How safe is it to invest with Fidelity SIPP?

A: Investing with Fidelity SIPP is considered safe as they are regulated by the Financial Conduct Authority and covered by the Financial Services Compensation Scheme.

About The Author

Sam Hodgson

Sam Hodgson

Head of Digital

Sam is our Head of Digital, overseeing all of our editorial and marketing strategies.

He has over a decade of pension industry experience, previously working & writing for the likes of HSBC and Hargreaves Lansdown.

His goal is to empower “non-financey” people to have confidence in making their own financial decisions, particularly on pensions and retirement planning.

Contact: sam@sippadvice.co.uk

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