Moving Funds Out of Fidelity in to Vanguard Life Strategy

[Mike88]

I am of an age when I no longer need growth funds so am thinking of moving out of Fidelity and investing direct the entire portfolio with a Vanguard Life strategy 20% Fund. The sum is substantial. All funds held in ISAs. According to the Fidelity website the annual charge is 0.22% and the same with Vanguard. Is there any point in transferring out of Fidelity and switching funds given the same charge. Am I missing something? I had it in mind that moving out of Fidelity would incur charges but I can't find anything in the terms and conditions which states this to be the case. The easy answer would be to speak with Fidelity but as the funds are in my wife's name I don't particularly want to go down the power of attorney route (which I have but not yet lodged with Fidelity) to ask this relatively easy question.

[monabri]

Not invested with either but...

Vanguard will charge an additional 0.15% (Capped at £375 per year for accounts over £250,000) on top of the fund management cost. If you page down on the link , it gives an example.

https://www.vanguardinvestor.co.uk/what ... -explained


With Fidelity

"Our service fee can be as low as 0.2% but is typically 0.35% and pays for everything we offer. This includes our guidance tools, news and insights from industry experts, and our secure, easy-to-use investing platform. We don't charge a service fee for junior accounts or for exchange traded investments held in an Investment Account, or on cash held in your accounts.

If you Google "fidelity vs vanguard uk" ( note the UK) there's a bunch of info and videos.

https://help.fidelity.co.uk/site/transf ... 20provider.

Transfers

" No, Fidelity does not charge fees to transfer your investments to a new provider. Please note that some investments may have a fund manager sell charge and for brokerage assets there is a £10 sell charge if you are selling the assets down and moving money as cash to the other provider."

[Alaric]

According to the Fidelity website the annual charge is 0.22% and the same with Vanguard. Is there any point in transferring out of Fidelity and switching funds given the same charge. Am I missing something? .

Are you able to hold the Vanguard funds at Fidelity? What are the current holdings? You may have to sell them at Fidelity as I believe Vanguard as a Broker only allow holdings of the in house funds and ETFs.