Transfer investments to Fidelity

Cash Back Offer – terms and conditions

This Cash Back Offer (the “Offer”) is available when you apply to transfer your pension(s), ISAs or other investment account assets between 1st November 2021 and midnight on the 28th February 2022.

1.  The promoter of this offer is Financial Administration Services Limited (“Fidelity”),  Beech Gate, Millfield Lane, Lower Kingswood, Tadworth, Surrey, KT20 6RP.

2.  Subject to section 5, the Offer is available to anyone who completes a transfer of their assets from other providers to Fidelity Personal Investing. This offer is not open to those that transfer via an adviser or intermediary. To transfer assets you must submit a correctly completed form online or by paper by 28th  February 2022.

3.  Cash Back will be paid in the amounts noted in the table in section 9. If you transfer less than £10,000 you will not receive any Cash Back. The minimum transfer value is £1,000 unless the transfer is from another provider and you’re immediately going to start taking money from it, then the minimum is £50,000.

4.  The following types of transfer will qualify for the Offer:

a.  Cash transfer within ISAs and pension products – If you transfer in cash within ISAs and pensions, the provider you are transferring from will sell your investments and send the proceeds directly to us. We will hold them as cash within your account until you decide what you would like to invest in.

b.  Re-registration – this involves a change to the fund or share register to show that Fidelity has taken over the administration of your investment/s. We can re-register your investments if the same investments are available through our Investment Platform, and they are able to be re-registered*. If you hold a particular share class of an investment that we do not offer, we will sell your investment after we re-register it and move the proceeds into a share class that is available on our Investment Platform. This switch can take up to two business days, and your money will not be invested during this time. If you hold an investment that is not available through our Investment Platform or is otherwise unable to be re-registered* it will only be able to be moved to us as a cash transfer (see above) if it is held in a pension or ISA. If the cash transfer is not within a pension or ISA, that amount will not count toward your total for the Offer. A re-registration does not count as a “disposal” for capital gains tax purposes, even if we switch your investment into a different share class. Please note that the minimum SIPP re-registration value is £1,000.

* Re-registration is not available for some products on the Fidelity Investment Platform. For example, a number of offshore funds cannot be re-registered.

5.  This Offer excludes:

a.  transfers of assets held in a product/account provided or administered by any company within Fidelity’s group of companies including, without limitation, transfers from the EBS SIPP and the Fidelity Personal Pension, or FundsNetwork SIPP, provided by Standard Life;
b.  transfers of assets currently held through Fidelity FundsNetwork^TM;
c.  transfers from any defined contribution pension scheme investments held through, or administered by, a Fidelity group company;
d.  transfers of any defined benefit, safeguarded benefit or otherwise guaranteed pensions;
e.  transfers which are linked to an adviser or intermediary;
f.  transfer of Junior SIPPs; Junior ISAs and
g.  the lodgement of certificated shares

6.  The Offer will also not apply to assets that are currently held in a product/account provided or administered by any company within Fidelity’s group of companies which are transferred to another provider and then moved to Fidelity Personal Investing.

7.  Any other new investment will not qualify for the Offer.

8.  Any transferred assets will be subject to the applicable client terms for the product your assets have been transferred to.

9.  The amount of your Cash Back payment will be determined by reference to the “Total Transfer Value” as set out in the table below. Total transfer value will be calculated as at the date of completion of the transfer of your eligible assets (“Transfer Date”). If you transfer more than one product the Transfer Date will be the date when all the transfers have been completed.

10.  Cash Back payments will be paid to your Cash Management Account (CMA) within 90 days following closure of the Offer (28th February 2022). If the transfer of all of your eligible assets has not completed by then, we will pay within 90 days after the completion of your Transfer Date. The CMA is a separate account in your name that helps manage cash. The Cash Back can be kept in your CMA for fee collection, withdrawn or moved into whichever Fidelity Personal Investing account you choose. If moved into an ISA or SIPP, it will count towards your annual allowance.

11.  We ask that the assets you move to us as part of this Offer be held with us for at least 18 months after your Transfer Date and must not be linked to any adviser or intermediary other than a Fidelity adviser during this period. If you transfer or re-register your assets to another provider within this 18-month period, Fidelity reserves the right to reclaim any Cash Back payment that was made to you as part of this Offer. For the avoidance doubt, if during this period you link to a Fidelity adviser and your assets are transferred to Fidelity FundsNetwork^TM this does not constitute a transfer to another provider.  Fidelity reclaim any Cash Back by withholding an amount prior to transferring or re-registering your assets to another provider. We will not reclaim any Cash Back  from assets within a SIPP, other pension or ISA. Withdrawals from your account/s or income payment will not count as transfers for the purposes of this condition and will not result in our reclaiming your cash back payment.

We promote offers on a regular basis. However, it is important that you take enough time to decide whether transferring your investment(s) to us is right for you. If you need more time and wish to qualify for the offer, please wait until the next offer period.

Issued by Financial Administration Services Limited, which is authorised and regulated in the UK by the Financial Conduct Authority. Fidelity, Fidelity International, the Fidelity International logo and the F symbol are trademarks of FIL Limited.            

UKM1021/36670/ CSO10591/0222

This Cash Back Offer (the “Offer”) is available when you apply to transfer your pension(s), ISAs or other investment account assets between 26th July 2023 and midnight on the 25th October 2023. 
 

1. The promoter of this offer is Financial Administration Services Limited (“Fidelity”), Beech Gate, Millfield Lane, Lower Kingswood, Tadworth, Surrey, KT20 6RP. 
2. Subject to section 5, the Offer is available to anyone who completes a transfer of their assets from other providers to Fidelity Personal Investing. This offer is not open to those that transfer via an adviser or intermediary. To transfer assets, you must submit a correctly completed form online or by paper by 25th October 2023. 
3. Cash Back will be paid in the amounts noted in the table in section 9. If you transfer less than £10,000 you will not receive any Cash Back. The minimum transfer value for all products is £100. However, if you are transferring a pension from another provider and you’re immediately going to start taking money from it, known as pension drawdown, the minimum transfer value is £50,000.  
4. The following types of transfer will qualify for the Offer: 

   
   a. Cash transfer within ISAs and pension products – If you transfer in cash within ISAs and pensions, the provider you are transferring from will sell your investments and send the proceeds directly to us. We will hold them as cash within your account until you decide what you would like to invest in.  

   b. Re-registration – With this type of transfer, you can keep the same investments as long as they're available on our platform. Where required, we will work with your existing provider to convert your units into a share class we can support before transferring them to us. Please note that a further conversion may be required to move you into the cheapest available share class on our platform. If a cheaper share class is available, we will also convert any existing holdings of that share class in your account. During this time, you will not be out of the market, and you may temporarily be converted into a share class with higher charges to facilitate the transfer. The share class conversion activity might take a few days and you will probably have a different number of units in the fund after you move as the prices of different share classes of the same fund are normally different.  

   If you hold an investment in a pension or ISA that is not available through our Investment Platform or is otherwise unable to be re-registered* it will be moved to us as a cash transfer (see above). Any investments held outside of a pension or ISA that cannot be re-registered will not be transferred to us. They will remain with the previous provider and will not count towards your total transfer value for the Offer. A re-registration does not count as a “disposal” for capital gains tax purposes, even if we switch your investment into a different share class. Please note that the minimum SIPP re-registration value is £100. 

   *Re-registration is not available for some products on the Fidelity Investment Platform. For example, a number of offshore funds cannot be re-registered. You can check what assets are available on our platform here  

5. This Offer excludes:  

   a. transfers of assets held in a product/account provided or administered by any company within Fidelity’s group of companies including, without limitation, transfers from the EBS SIPP and the Fidelity Personal Pension, or Fidelity Adviser Solutions (formerly FundsNetwork) SIPP, provided by Standard Life;  
   
   b. transfers of assets currently held through Fidelity Adviser Solutions (formerly FundsNetwork);  
   
   c. transfers from any defined contribution pension scheme investments held through, or administered by, a Fidelity group company;  
   
   d. transfers of any defined benefit, safeguarded benefit or otherwise guaranteed pensions;  
   
   e. transfers which are linked to an adviser or intermediary;   
   
   f. transfer of Junior SIPPs; Junior ISAs and 
   
   g. transfer of Lifetime ISAs (LISA) 
   
   h. the lodgement of certificated shares 

6. The Offer will also not apply to assets that are currently held in a product/account provided or administered by any company within Fidelity’s group of companies which are transferred to another provider and then moved to Fidelity Personal Investing. 
7. Any other new investment will not qualify for the Offer.  
8. Any transferred assets will be subject to the applicable client terms for the product your assets have been transferred to. 
9. The amount of your Cash Back payment will be determined by reference to the “Total Transfer Value” as set out in the table below. Total transfer value will be calculated as at the date of completion of the transfer of your eligible assets (“Transfer Date”). If you transfer more than one product the Transfer Date will be the date when all the transfers have been completed.
    

   Total Transfer Value	Cash Back Amount
   £10,000 - £49,999	£100
   £50,000 - £99,999	£200
   £100,000 - £149,999	£350
   £150,000 - £499,999	£500
   £500,000 - £749,999	£750
   £750,000 or over	£1,500

10. Cash Back payments will be paid to your Cash Management Account (CMA) within 90 days following closure of the Offer (25th October 2023). If the transfer of all of your eligible assets has not completed by then, we will pay within 90 days of your Transfer Date. The CMA is a separate account in your name that helps manage cash. The Cash Back can be kept in your CMA for fee collection, withdrawn or moved into whichever Fidelity Personal Investing account you choose. If moved into an ISA or SIPP, it will count towards your annual allowance. 

11. We ask that the assets you move to us as part of this Offer be held with us for at least 18 months after your Transfer Date and must not be linked to any adviser or intermediary other than a Fidelity adviser during this period. If you transfer or re-register your assets to another provider within this 18-month period, Fidelity reserves the right to reclaim any Cash Back payment that was made to you as part of this Offer. For the avoidance doubt, if during this period you link to a Fidelity adviser and your assets are transferred to Fidelity Adviser Solutions (formerly FundsNetwork) this does not constitute a transfer to another provider.  Fidelity reclaim any Cash Back by withholding an amount prior to transferring or re-registering your assets to another provider. We will not reclaim any Cash Back from assets within a SIPP, other pension or ISA. Withdrawals from your account/s or income payment will not count as transfers for the purposes of this condition and will not result in our reclaiming your cash back payment. 

    We promote offers on a regular basis. However, it is important that you take enough time to decide whether transferring your investment(s) to us is right for you. If you need more time and wish to qualify for the offer, please wait until the next offer period. 

    Issued by Financial Administration Services Limited, which is authorised and regulated in the UK by the Financial Conduct Authority. Fidelity, Fidelity International, the Fidelity International logo and the F symbol are trademarks of FIL Limited. 

    UKM0623/381660/CSO11550/251023

In order to request exit fees re-imbursement you will be required to complete an exit fees re-imbursement form, or request over the phone by calling us on 0333 300 3351.

Terms and conditions for re-imbursement of exit fees

Fidelity will reimburse the exit/redemption fees charged to a customer by their former provider/s when they move their investments (minimum of £100) to Fidelity, up to a maximum amount of £500 per customer.

An exit fee is an administration charge which is imposed by the former provider and arises directly as a result of processing the transfer or re-registration of the customer’s investments to Fidelity. Fidelity will not reimburse the customer for any loss of investment returns, loss of interest, dealing charges, penalties for transferring investments before their maturity dates or any other charges associated with your transfer or re-registration.

Where a re-registration or transfer is not possible and the customer chooses to sell their investments held through another provider and subsequently make new investment/s (minimum £10,000) through Fidelity, Fidelity will cover any account closure fees charged by the customer’s former provider (excluding any dealing charges) of up to £500 per customer. Fidelity will not cover any bid-offer spreads or any capital gains tax liability arising as a result of these transactions.

Exit and account closure fees reimbursement must be claimed within a 6 month period from date of transfer of the customer’s investments to Fidelity. Exit fees will be reimbursed for transfers and re-registrations and account closure fees will be reimbursed provided the conditions above are met. Products included: ISAs, PEPs, Unit Trusts, OEICs, SICAVs, Fidelity Personal Pension, EBS SIPP and the Fidelity SIPP. Products excluded: ShareNetwork.

To qualify for the reimbursement, the fees from the customer’s former provider must have been triggered as a direct result of the transfer or re-registration to Fidelity, or the closure of an account where the customer has subsequently (within 6 months) invested at least £10,000 through Fidelity. If the customer is transferring investments to more than one provider from their former provider at the same time, Fidelity will only reimburse the fees which are incurred as a result of direct transfer or re-registration to Fidelity. Other fees or charges unconnected with the transfer will not be reimbursed.

The completed Exit Fee Reimbursement Form and documentary evidence of the charge will need to be provided in order for the exit fees to be reimbursed to the customer. To claim the reimbursement of any account closure fees, documentary evidence of the closure fee levied will need to be provided to Fidelity, along with confirmation that a minimum of £10,000 has been invested with Fidelity within 6 months of incurring such closure fee.

The documentary evidence referred to above, must be either a copy of the charge confirmation letter from the former provider or a statement showing the charge being deducted.

Payment will be made to the customer by BACS when a bank mandate is held on the account. Alternatively, payment will be made by cheque.