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Family Linking

Old Mutual Wealth, Quilter’s UK Platform, is pleased to announce the introduction of Family Linking, from April 2020. Family Linking is a multiple family member discount which will significantly save money across the generations. 

Old Mutual Wealth’s platform charge reduces in stages as the total value of a customer’s assets increases. When investments are linked with family members, Old Mutual Wealth uses the combined assets held on the platform to calculate the percentage rate, thereby lowering the charges paid by each individual.

While spousal linking is common and is currently available on Old Mutual Wealth, the new Family Linking includes multiple generations: grandparents; parents; parent-in-law; spouse; brother and sisters; children; and grandchildren. There is no minimum investment and no maximum number of family members who can be linked, making it easier to create prosperity across generations.

At the same time, Old Mutual Wealth is introducing a new simpler pricing structure that will see it reduce from five charging tiers to four, and this will also come into effect from April 2020.

Download our Family Linking guide for more information.

Current bands

Current % charge

First £25,000

0.50%

£25,000 to £100,000

0.35%

£100,000 to £500,000

0.30%

£500,000 to £1m

0.25%

£1m+

0.15%

New bands

New % charge

First £25,000

0.50%

£25,000 to £250,000

0.30%

£250,000 to £750,000

0.25%

£750,000+

0.15%

With the new Family Linking and revised charging structure, all clients can save substantial amounts each year. The example below illustrates how £1,000 can be saved across three generations of a family:

Family member

Asset value

Annual amount saved

Parent

£380,000

£331

Parent-in-law

£300,000 

£279

Investor

£250,000 

£219

Spouse

£120,000 

£105

Child

£10,000 

£26

Child

£15,000

£40

TOTAL

£1,075,000

£1,000

Steven Levin, chief executive officer of Old Mutual Wealth, comments:

“The ‘Great Wealth Transfer’ which is seeing trillions pass between generations over the next 30 years has been well documented. We are seeing more advisers using our platform to support wider family units and providing advice that spans generations. And it is our duty to encourage intergenerational planning, allowing advisers to offer savings to those families.

“Our new platform technology will deliver a number of efficiencies and I am delighted to be able to share these savings with customers. The new technology has great potential and we plan to innovate further in collaboration with our customers and their advisers.”

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