Fidelity Stocks and Shares ISA

Fidelity Stocks and Shares ISA

Fidelity Investments is an American multinational financial services corporation. It is the fourth largest mutual fund and financial services group in the world. Founded in 1946.

Choosing a Stocks and Shares ISA

A Stocks & Shares ISA is a tax-efficient and flexible way to invest in the market. You are able to put your annual tax allowance in to investments, innovative finance or cash ISAs, or any mixture of the three. The investments you place into an ISA will be sheltered from capital gains tax and any further income tax.

By putting away a little money each month or investing some spare cash, you could possibly receive a higher return on your savings when compared with a standard ISA. This is because your capital depends on market growth. However this means there is an element of risk involved and you could end up with less than you originally invested. Investment ISAa are viewed as long term investments for a minimum of 5 years.

Fidelity Stocks and Shares ISA Review

Features:

• One low cost service fee, typically 0.35% on the investments you hold with them. However, ongoing fund charges do apply
• Flexibility, they allow you to hold cash as well as investments. This means you can hold your money in cash if you are concerned about the market's prospects. Providing a safer option until you’re ready to invest
• 24/7 access using their online Account Management system, and mobile app
• A wide range of investment options as well as tools to help you find the right funds for you
• Excellent customer service, including a UK-based contact centre and through investment guidance on their website
• You can get started with a minimum of £50 per month or £1,000 lump sum

Fidelity do not offer a ‘flexible’ ISA so any subscriptions that you make will count towards the annual limit. The amount subscribed will not be reduced if you make a subsequent withdrawal.

About Stocks and Shares ISAs

This sort of account provides you with a platform to invest from but would not normally be seen as an investment in its own right. With these kinds of accounts, you will be able to hold money and apply it towards investments such as property, funds, government bonds and corporate bonds as well as shares and stocks.

Generally, they are available as either self-select ISAs that allow you to invest directly into stocks and shares or as collective investment schemes. Many accounts will look after your investments for you, depending on a risk level that you have chosen, whereas others will allow you the freedom to choose yourself. This means anyone can get started in investing.

Stocks & shares ISA are referred to as ‘tax-efficient’ wrappers, as there isn’t any capital gains tax to be paid on gains made on investments held within the wrapper, although dividends do incur 10% income tax at source.