Fidelity ISA question (or general ISA)

[buswheels]

I have a small amount in. fidelity stocks and shares isa. The annual statement shows it made 1.4K last year yet my charges were 700 pounds.

Does this seem excessive?

it doesn’t really seem to have increased as it once did (it’s American and special situations) and I’m wondering if I should change? Thanks

The annual charges will typically be a percentage of the overall value of the investment, so maybe 0.35% or something like that. So if your charges were £700 for the year I'm guessing your overall fund is about £200,000.

The effect of annual charges on the overall fund is magnified when returns have been poor (i.e. in this case they represent 50% of the growth of £1,400) but their negative effect is much smaller when returns are higher.

Whether or not you choose to change your underlying fund choices is up to you. What led you to select your current portfolio in the first place? What do you think markets are going to do next?

I closed my fidelity account last year when they increased fees significantly for smaller balances. I already had s&s accounts elsewhere so easy transfer. Don't think fidelity is particularly interested in smaller balances anymore..?

Fidelity levies a charge on your ISA, but the individual funds also have charges, too. Check what percentage your two funds are charging you.

They are quite specific ones ... you might be better off with a more general fund such as an index tracker, which aims to mirror a market index such as the FTSE 500. Or, even more broadly, a global index. These trackers usually have lower charges.

Thanks everyone @Sunseed if only it’s 30k! Selected because they were top performers when I invested and for quite some time subsequently, they seem to have stalled over the last few years.
I’m thinking it’s time to change

Fidelity ISA charges are 0.35% on balances over £25k so that's about £100. So either it isn't a Fidelity ISA direct or you have it through a platform or advisor that is also levying fees

I have a fidelity Isa worth about 40k and fees are nowhere near that.

my fees aren’t particularly noticeable- the funds are returning between 6 and 20%.

I keep a close eye and would notice £700 going out! That would negate my monthly payments…