Fidelity has acquired low cost financial services dealing firm Cavendish Online and will add it to its Personal Investing platform.

Cavendish Online investors will get access to Fidelity’s range including the investment and pension platform, funds, shares, investment trusts and exchange-traded funds.

They will be able to hold investments in Fidelity’s ISA, SIPP or Investment Accounts.

The deal for Exeter-based Cavendish is for an undisclosed sum.

Cavendish Online’s investment platform currently uses Fidelity’s FundsNetwork platform, making it relatively straightforward to transfer investors from one platform to another.

Cavendish was launched in 2000 and offers customers ISAs, pensions, life assurance, structured products, VCTs and other financial products. It’s main focus is on low cost execution-only services.

With the takeover, Cavendish share dealing customers will also be able to receive live quotes and online share dealing in Fidelity’s SIPP.

Cavendish clients will retain their current platform charges for at least 12 months from the transaction date, currently 0.25% per annum for accounts valued at less than £200,000 and 0.2% for accounts valued at more than £200,000.

Ian Williams, managing director of Cavendish Online Investments Ltd, said: “Cavendish customers will continue to enjoy the benefits of investing in stocks and shares ISAs, investment and pensions powered by the full capability of Fidelity’s investment and pension platform.”

Stuart Welch, global head of personal investing and advisory, Fidelity International, said: “With our shared beliefs and values, this acquisition really felt like a natural fit as Fidelity’s FundsNetwork platform was already powering their investments, so I am confident this will be a straightforward transition for Cavendish customers.”

“The wealth and retirement planning services we offer will provide further support and peace of mind for those investors with larger portfolios or more challenging decisions ahead and our guidance service and tools will help those who want to know how to make the most of their retirement savings and investments.”