Fidelity transfer

Fidelity Investments is looking to change its terms and conditions on sales of its funds, according ...

Fidelity Investments is looking to change its terms and conditions on sales of its funds, according to Hargreaves Lansdown, writes Ruth Alexander. This is to prevent discount brokers who are rebating half the yearly renewal commission available on a fund sale back to clients and providing no ongoing client service. This has created a problem with IFAs in that renewal is typically a payment for advice and service to clients. Ben Yearsley, investment manager, said: "Why should those sort of brokers get paid for doing nothing?" Meanwhile, Fidelity has added in a Pep and Isa transfer facility ...