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How does Fidelity compare to other pension providers?


Fidelity International has been providing investment management services since 1969. It currently manages $728.6 billion for 2.87 million clients across Asia Pacific, Europe, the Middle East, South America and Canada.

In the UK, Fidelity serves 1.5 million customers. For retail customers, it provides Stocks and Shares ISAs, personal pensions (SIPPs), Junior ISAs, and general investment accounts. It also offers financial and retirement advice, and wealth management for larger account holders.

Fidelity International in a nutshell

With 50 years of history, Fidelity is a market leader in investment management services. In 2022, it was in the top three asset managers by retail sales alongside Legal & General and BlackRock.

The platform offers a wide range of investment options. There are over 100 leading UK funds to choose from and a broad selection of ETFs and Investment Trusts. It also now offers investments directly in shares.

To build up a portfolio, Fidelity provides three main routes.

Its “Navigator” tool provides ready-made portfolios to match risk appetite and growth or income paths. Then there is the “Fidelity Select 50”, a choice of funds created by its in-house experts. Finally, the “Investment Finder” lets users sort, filter and compare to build up their own, completely personalised, portfolio.

With such a range of investment options, Fidelity is well suited to people looking for the DIY experience. If you are looking for a quick and easy solution to your retirement planning, then today’s robo-advisors might make this simpler.

For portfolios up to £250,000 the costs are competitive with other platforms offering such an array of investment opportunities.

What are the pension plans like?

To open a self-invested personal pension (SIPP) you’ll need to invest a minimum of £20 a month. Fidelity also offers a transfer service so you can move any other pension pots into the account too. It will even cover up to £500 in exit fees if your current provider charges them. Once you have opened an account, all the investment options become available.

There is plenty of online guidance and planning calculators to assist your decisions. Fidelity also provides a paid advice service although you should note this is aimed at people investing £100,000 or more. Having said that, it also offers free consultations, in-person, from its London offices – not something found at other platforms.

As you would expect, Fidelity is regulated by the FCA and FCSC, so investments are covered.

What are the fees like?

This is where it can get a little complicated. As a DIY account, there are potentially multiple charges to account for. If you are not a confident investor, then you will need to take time to do your own research and should consider paying for an advisor.

Fidelity has its service fees that taper off depending on how much you invest.

For accounts under £25,000 there is a 0.35% fee if you have a regular savings plan, or £90 a year if you don’t.

Between £25,000 and £250,000, the service fee is a flat 0.35%, irrespective of regular savings deposits or not.

From £250,000 up to £1 million the fee drops to 0.20% which is capped at £2,000 a year.

On top of the service fees, funds will have their own charges. While some of these can be as low as 0.05%, you should read carefully before committing to anything.

So, is Fidelity International a good pension provider?

Back in 2018, there were some complaints about a redesign of the website and app. However, an overhaul by Fidelity in 2021 seems to have corrected course. We found the site easy to navigate and full of useful advice and tips.

Customer service offers online and over the phone options. It also has the in-person office in London from Monday to Friday. Online reviews indicate these are all professionally managed and provide prompt responses to queries.

People with little investment knowledge may struggle with so much on offer and find simplified options, such as PensionBee, a better option. But for those with more experience and confidence, the range of investment options is impressive. Like rival interactive investor, Fidelity’s offering beyond SIPPs also makes it a good option if you want to bring multiple investment accounts into one place.

What do other people think?

Aggregate reviews on TrustPilot give the platform a rating of 4.0. Ease of use and good customer service are highly commended.

Fidelity received awards from Boring Money as a “Best Buy, Pensions” and “Best for Low Cost, Pensions over £50k” in 2022. It has also been a Which? Recommended provider of SIPPs for the last two years.

Other reviewers note that while Fidelity’s fees may not be the best if you are only just starting to save for retirement, for accounts over £10,000 it provides a very competitive service.

As ever, we at Disruption Banking always recommend you do you own research. You can find our reviews of other pension providers below and should seek independent advice on your personal investment decisions.

Author: Mike Davies


The Editorial Team at #DisruptionBanking have taken all precautions to ensure that no persons or organizations have been adversely affected or offered any sort of financial advice in this Article. This Article is most definitely not Financial Advice.

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