Old Mutual Wealth
Old Mutual Wealth, formerly known as Skandia Investment Solutions, is one of the leading investment platforms. It hosts collective investments and ISAs as well as bonds and pension products.
Old Mutual Wealth is what’s called an 'investment platform'. It provides the technology, tools and services to help you manage your investments in one place.
Where can I invest?
You can invest in over 1,250 Unit Trusts and OEICs, as standalone investments, through an ISA or through the Old Mutual Collective Retirement Account (Personal Pension).
You can view the range of funds available and access each fund's Key Investor Information Documents (KIID) or Simplified Prospectus together with its report and accounts online.
How much can I invest?
The minimum investment to open a new account is £2,500 for lump sum and transfer investments. There is currently no minimum for additional investment into an existing account. The minimum regular investment is £99 per month.
What are the charges?
Most funds on Old Mutual Wealth now have a 0% initial charge – please check before investing. This applies to both new investments and fund switched. Clubfinance takes no initial, switch or ad hoc fees on any funds held on the platform. The stated initial charges (0% in the vast majority of cases) also apply for switches on the platform. There is no charge to transfer funds on or off the Old Mutual platform.
In addition, you pay an annual platform charge to Old Mutual Wealth which is tiered within bands, and an annual fee of 0.05% to Clubfinance. The tables below show the charges and examples for different account values.
|Tier||Old Mutual Wealth annual platform charge||Club Finance annual fee|
|Over £1 million||0.10%||0.05%|
|Account value||Effective charge (including Clubfinance fee)|
Existing Clubfinance clients with an Old Mutual Wealth's platform account opened before 18 December 2012 on Charge Basis 1 or 2 who want to make further investments or changes need to contact us to get appropriate documentation and check whether they can remain on their current Charge Basis. The tables above cover Charge Basis 3, which is now the only Charge Structure available for new accounts through Clubfinance.
Regulatory requirement mean that platforms (including fund supermarkets) and intermediaries using them must charge investors separate fees for their services (often known as an 'unbundled' charging structure). There is therefore a separate tiered Old Mutual Wealth's platform Product Charge, which has been reduced for Clubfinance clients. Clubfinance therefore does not receive any commission, so instead Clubfinance charges a 0.05% additional annual fee ('Servicing Fee'). Any trail commission and additional platform payments negotiated by Old Mutual Wealth are rebated back in full to your account as additional units.
Please ensure you carefully read and understand these documents before investing, alongside the Clubfinance Terms of Business and Risks and Commitments. You should also read the specific fund's Key Investor Information Document.
- Key Features of the Individual Savings Account (ISA)
- Terms & Conditions for the ISA (Charge Basis 3)
- Key Features of the Collective Investment Account
- Terms & Conditions for the Investment Account (Charge Basis 3)
- Key Features of the Collective Retirement Account (CRA)
- Terms and Conditions of the Collective Retirement Account (CRA) (Charge Basis 3)
- Charges information
- Fund List
Please return any completed application forms to Clubfinance c/o Wealth Club, 4 Broad Plain, Bristol, BS2 0JP. If you have any questions, please contact us.
- ISA application
- Collective Investment Account Application
- Collective Retirement Account (CRA) Application
- Employer Payer Form
- Switch/Redirection Request
- Adviser Fee Authorisation (PDF, 319.3kB)
- Platform Fee Statement (PDF, 99.0kB)
- Client Declaration – must accompany any investment application (PDF, 82.6kB)
Important – Have you agreed to the new fee structure?
Due to regulatory changes, Clubfinance now charges an ongoing annual fee of 0.05% and rebates all commission on legacy fund classes (subject to deduction of income tax where applicable). To benefit from the new fee structure, you must complete and return the form below, if you haven't already.Download and complete form