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Fidelity launches half price ISA offer

Joanna Faith
Written By:
Posted:
25/09/2013
Updated:
25/09/2013

Investment firm Fidelity has launched a half price ISA aimed at private investors who cannot afford the fees charged by financial advisers.

Customers will pay 50% of the annual management charge (AMC) on funds, until 5 April 2014, when they invest directly in a Fidelity ISA between 6th September and 30th November 2013.

The group said the promotion marks a series of improvements to its guidance service which launched in February in a bid to fill the “guidance gap” left by the Retail Distribution Review (RDR).

Under the RDR rules, which came into force on 1 January, advisers have to charge clients for their services and can no longer rely on commission.

According to a report by Fidelity and the Cass Business School earlier this year, as many as 43 million Brits could fall into what they call a “guidance gap” as a result of the RDR.