Hargreaves Lansdown vs Fidelity Personal Investing for drawdown: fees and features compared (2026)
A side-by-side comparison of what Hargreaves Lansdown and Fidelity Personal Investing charge for pension drawdown, and what you get for it. Neither provider is cheaper across the board — which one costs less depends on the size of your pot. The table below shows where each one wins.
Platform charges only.
What each one charges
Provider
Published fee structure
What it covers
Fees checked
Hargreaves Lansdown
0.35% first £250k, 0.25% £250k-£1m, 0.10% £1m-£2m, 0% over £2m (£150 annual cap for shares)
Platform charge only; fund charges extra
23 Sept 2026
Fidelity Personal Investing
0.35% up to £250k, 0.20% over £250k (minimum £90 a year)
Platform charge only; fund charges extra
23 Sept 2026
Annual cost by pot size
Pot size
Hargreaves Lansdown
Fidelity Personal Investing
Cheaper
£100,000 pot
£350
£350
Level, or not stated
£250,000 pot
£875
£500
Fidelity Personal Investing is cheaper
£500,000 pot
£1,500
£1,000
Fidelity Personal Investing is cheaper
Hargreaves Lansdown is cheaper up to about £25k; from about £30k to £245k, they cost the same; above that, Fidelity Personal Investing is cheaper (modelled between £10k and £1m).
Fund charges, dealing and withdrawal fees are extra. Platform charges assume you hold funds. Some platforms cap charges on shares, ETFs and investment trusts, which can be much lower. See how we compare.
Features compared
Feature
Hargreaves Lansdown
Fidelity Personal Investing
What the charge covers
Platform charge only; fund charges extra
Platform charge only; fund charges extra
Investment range
14,000+
5,000+
Ready-made portfolios
Yes
Yes
Regular income payments
No extra charge
No extra charge
One-off withdrawals
No charge
No charge
UFPLS lump sums
No charge
No charge
Minimum pot to start drawdown
Not confirmed
£50,000
FSCS protected
Yes
Yes
Fees checked
23 Sept 2026
23 Sept 2026
“Not confirmed” means the provider does not publish the figure or we have not yet checked it; it does not mean the charge is zero.
Which suits you?
Choose Hargreaves Lansdown if you…
want a wider choice of investments (14,000+ against 5,000+)
Choose Fidelity Personal Investing if you…
want the lower platform charge on a £250,000 or £500,000 pot
This is comparison information, not advice.
Free, impartial guidance:Pension Wise offers free appointments to people aged 50 or over with a defined contribution pension, and MoneyHelper’s investment pathways comparison tool compares drawdown providers’ ready-made options. Both are backed by the government.
Pros and cons
Hargreaves Lansdown
Pro: Best-in-class research and analysis
Pro: Excellent mobile app experience
Pro: Market-leading customer service
Pro: Extensive fund research
Pro: Strong brand trusted by millions
Con: Higher fees than competitors
Con: Expensive for smaller pots
Con: Share dealing charges higher
Con: Can be overwhelming for beginners
Fidelity Personal Investing
Pro: Trusted global brand
Pro: Good range of investments
Pro: User-friendly platform
Pro: Free UK fund dealing
Pro: Quality research available
Con: More expensive than ii for large pots
Con: Smaller investment range than AJ Bell
Con: Limited advanced features
Con: £90/year flat fee for pots under £25,000
Frequently asked questions
Which is cheaper for drawdown, Hargreaves Lansdown or Fidelity Personal Investing?
Neither is cheaper at every pot size we model. Yearly platform charges for Hargreaves Lansdown and Fidelity Personal Investing are £350 and £350 on a £100,000 pot; £875 and £500 on £250,000; and £1,500 and £1,000 on £500,000. Hargreaves Lansdown is cheaper up to about £25k; from about £30k to £245k, they cost the same; above that, Fidelity Personal Investing is cheaper (modelled between £10k and £1m). Fund charges, dealing and withdrawal fees are extra.
What does Hargreaves Lansdown charge for drawdown?
0.35% first £250k, 0.25% £250k-£1m, 0.10% £1m-£2m, 0% over £2m (£150 annual cap for shares). Platform charge only; fund charges extra. Regular income payments: no extra charge. One-off withdrawals: no charge. UFPLS lump sums: no charge. We last checked these fees on 23 September 2026.
What does Fidelity Personal Investing charge for drawdown?
0.35% up to £250k, 0.20% over £250k (minimum £90 a year). Platform charge only; fund charges extra. Regular income payments: no extra charge. One-off withdrawals: no charge. UFPLS lump sums: no charge. We last checked these fees on 23 September 2026.
What can I invest in with Hargreaves Lansdown and Fidelity Personal Investing?
Hargreaves Lansdown: 14,000+, including ready-made portfolios. Fidelity Personal Investing: 5,000+, including ready-made portfolios.
How do customers rate Hargreaves Lansdown and Fidelity Personal Investing?
Hargreaves Lansdown has a Trustpilot score of 4.4 out of 5 (checked 8 September 2026). Fidelity Personal Investing has a Trustpilot score of 4.6 out of 5 (checked 8 September 2026). Scores change over time, and they do not affect our cost comparison.
How do I choose between Hargreaves Lansdown and Fidelity Personal Investing?
Start with the yearly cost at your own pot size, then check what you want to hold, how you plan to take income and whether you want ready-made portfolios. This page is comparison information, not advice. Free, impartial guidance on your options is available from MoneyHelper's Pension Wise service.