Fidelity International, the Bermuda-based fund management house, today announced its acquisition of Cavendish Online Investments, which will form part of its Personal Investing platform.
As customers of Fidelity Personal Investing, Cavendish Online investors will benefit from having access to the full capability of its investment and pension platform, including its entire range of funds, shares, investment trusts and exchange-traded funds which can be held in an ISA, SIPP or Investment Account.
They will also benefit from an expanded range of features, especially for pensions. Share dealing customers will now be able to receive live quotes and online share dealing in Fidelity's SIPP. Customers will also retain their current platform charges for at least 12 months from the transaction date.
With our shared beliefs and values, this acquisition really felt like a natural fit as Fidelity's FundsNetwork platform was already powering their investments, so I am confident this will be a straightforward transition for Cavendish customers."
Cavendish Online's investment platform is currently powered by Fidelity's FundsNetwork platform, meaning that customers will not have to transfer assets from one platform to another and they will not experience any time out of the market. Furthermore, their account details will remain the same.
Cavendish customers will also have access to Fidelity's online guidance services, its range of investment tools as well as market news, daily insights and in-depth analysis to stay up to date with the latest investment news. They will also be able to download Fidelity's free iOS and Android apps to check their investments on the go.
Stuart Welch, global head of personal investing and advisory at Fidelity International, said: "I want to warmly welcome Cavendish customers to Fidelity Personal Investing's platform and I hope they will enjoy the enhanced benefits of our service. With our shared beliefs and values, this acquisition really felt like a natural fit as Fidelity's FundsNetwork platform was already powering their investments, so I am confident this will be a straightforward transition for Cavendish customers.
"Using Fidelity's Personal Investing platform is easy, clear and simple. It is designed to help investors achieve their long-term financial goals, through a range of investment propositions and services designed to provide guidance and support at every stage of their journey."
Ian Williams, managing director of Cavendish Online Investments, said: "Cavendish customers will continue to enjoy the benefits of investing in stocks and shares ISAs, investment and pensions powered by the full capability of Fidelity's investment and pension platform. Fidelity provides excellent service and value and is very well placed to administer their investments for the long term."