Transferring to Fidelity

After a review of our personal investing business, we identified the need for significant investment to modernise and develop the administration and services provided to our customers.

After careful consideration, in October 2020, we decided to sell the business.

Subsequently, our analysis of other investment providers led to our decision that Fidelity would be the best-placed provider to take this business forward, and to continue to provide our personal investing customers with the excellent customer service they have come to expect from Legal & General.

Fidelity is one of the UK’s leading investment providers. Customers can invest through a range of accounts, including Stocks and Shares ISA, Self-Invested Personal Pension (SIPP), Investment Account, and Junior ISA and Junior SIPP accounts. All with simple, low-cost pricing.

Fidelity also provides access to thousands of investment options, including funds from leading UK providers, shares, investment trusts and exchange-traded funds. Please see the Doing Business with Fidelity Booklet

After a considered process, we chose Fidelity because of its focus on providing its customers with an excellent investing experience, and we are confident your investment(s) will be in safe hands following the transfer to Fidelity.  Please see the Fidelity customer leaflet.

You'll no longer be able to view details about your investment(s) on Legal & General's My Account online portal. However, you will be able to register to use Fidelity's online self-service facilities once your investment(s) has transferred. Please see PART C1.11 of the Important Information Booklet.

If your primary residence is overseas, certain restrictions will apply following the transfer of your investment(s) to Fidelity. These are:

• You will not be able to make any new contributions to your investment(s) unless you move back to the UK. If you are currently making regular payments by Direct Debit, these will stop when your investment(s) is transferred to Fidelity.
• You will only be able to move your investment(s) to cash, transfer your investment(s) to another provider, or sell your investment(s) and have the proceeds paid into a UK bank account, unless you move back to the UK.

There is no change to the protection of either your cash, or other investments under the FSCS as a result of the transfer to Fidelity. You can find out more about this in section 5 of the ‘Doing Business with Fidelity Booklet'

Depending on the type of investment(s) you held, we may have been able to move it to Fidelity even if you did not respond to our communications.

If you didn’t respond to the communications we sent you and held some investments in an ISA but others in an Investment Account, your ISA may have been moved to Fidelity, but your Investment Account will have remained with Legal & General.

If you would now like to transfer your Investment Account to Fidelity, please contact them and they can arrange this for you.

Yes, Fidelity can arrange to transfer your investment(s). Please contact them directly on 0800 358 0751 to request this.

No, the administration of our personal investing business has transferred to Fidelity and therefore, we are not accepting transfers in.

If you held a Legal & General ISA investment and did not respond to our communications about the transfer to Fidelity, it will have been transferred to Fidelity unless you contacted us explicitly to opt-out of the transfer.

This was explained in the communications we sent you, and in particular the last information pack that we sent you that provided details of the transfer date and what to expect from Fidelity following the transfer.

For the investment(s) you hold with Fidelity, you can contact them on 0800 358 0751.

If you still have investments held directly with Legal & General, you can continue to Get in touch with us if you have any questions about your investment(s).