Talk about ruffled feathers. For one month only, Fidelity International is offering 0% initial commission on 30 of its most popular funds. Independent financial advisors (IFAs) aren't happy at all. Why not? Because the January sales promotion is only open to execution-only clients, not those who buy the funds through IFAs.
"Fidelity is effectively encouraging people not to take advice before making important investment decisions", said Adrian Lowcock, senior investment adviser at Bestinvest. "We do not consider this as fully in line with the spirit of 'Treating Customers Fairly'."
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