Charges
The only charges on our Fidelity's Fundsnetwork SIPP are outlined below. Cavendish Online no longer charges a set up fee and instead will retain a small proportion of the total annual charge paid to Fidelity.
Fidelity's Fundsnetwork has three charges as detailed below, the initial charge, the yearly administration charge and the annual management charge of your underlying fund.
Funds are bought at 0% initial fund charge and there is no switching charge.
Fidelity's Fundsnetwork charging structure is split into two broad categories, those for Core Investments and those for Non-core Investments. Schemes operated via Cavendish Online cannot offer Property purchase or Pension Fund Withdrawal as these are not available on an execution-only basis.
The following tables detail the standard SIPP charges; there may be other charges on non core investments, such as Stamp Duty.
| Initial & Yearly Administration Charges | Core Investments | Non-core Investments |
|---|---|---|
| Initial Administration Charge - applied when you first invest in assets | £116 | £339 |
| Yearly Administration Charge - applied on the anniversary of the plan start date | £291 | £466 |
| Yearly Charge for Pension Fund Withdrawal - applied on the anniversary of the plan start date. N/A via Cavendish Online | £140 | £140 |
Fund Charges - apply to Core Investments and are in addition to the Initial and Yearly Administration charges.
| Charge | Charge Applied to/taken from | How much? |
|---|---|---|
| Annual Management Charge (AMC) | FundsNetwork mutual funds | See separate Fund tables brochure or visit www.fundsnetwork.co.uk |
| Fund Management Charge (FMC) | Standard Life Investment Policy (SLIP) unit linked funds | 1.0% - 2.0% Dependant on chosen fund(s) There are yearly discounts based on the amount invested |
The level of charges is not fixed and may increase if the costs incurred by Fidelity are higher than expected.
Other Charges - apply to Non-core Investments only
| Charge | How much? |
|---|---|
|
Transaction Charge |
£56 |
| . Deals through Stocktrade | £11 |
| . Discretionary Portfolio transaction | Nil |
| Transaction charges are capped at £300 per year (excludes Stocktrade) - additional transactions will be free of charge | |
| Dealing Charge - Execution only dealing via Stocktrade | 0.3% per trade with a minimum charge of £20 and a maximum charge of £50. This charge is made by Stocktrade. |
|
Investment Manager Charge - taken each year for each investment manager appointed from the panel. Taken in advance on a pro-rata basis. Not available via Cavendish Online. N.B. Each Investment Manager will also make a charge. |
£291 |
| Valuation Charge . Yearly valuation of SIPP (excl Property) |
Nil |
| . Requests for additional valuation which can be given without needing 3rd party information | Nil |
| . Requests for additional valuation which cannot be given without obtaining3rd party information | £48 |
| Property Charges | Please enquire for further details although not available via Cavendish Online |
