Fidelity SIPP Review 2026

Fidelity fits fund investors who want broad choice and no fund dealing fee. Free fund dealing also makes regular rebalancing straightforward to cost.

Its £90 annual custody cap works well for larger portfolios of shares, ETFs or investment trusts. Active traders must also account for the standard £7.50 online dealing fee.

Regular investing cuts the dealing charge to £1.50. Monthly purchases and occasional one-off trades belong in the same cost comparison, rather than the custody cap being considered alone.

Fidelity charges no standard setup, annual drawdown or one-off withdrawal fee. A pension transferred specifically for drawdown must be at least £50,000, which rules it out for smaller pots seeking immediate access.

Fidelity is a well-rounded alternative to the two largest names for fund-led investors and exchange-traded investors who use regular dealing.