The charges described below apply to customers invested on our unbundled charge basis, charge basis 3. For details of charges that apply to our bundled charge basis 1 and 2, please see our documents making the cost of investment clear, charge basis 1 and 2.
At Old Mutual Wealth, we pride ourselves on our clear and transparent charges which mean you always know what to expect when it comes to paying for your product.
After our technology upgrade, when you invest with us you will continue to benefit from:
- competitive charges that you can easily understand
- no charges for switching unit trusts or OEICs, or for drawing income from your products
- access to over 1700 funds, just under 80% accessed at the best available price in the market.
- for customers on our unbundled charge basis (charge basis 3) a tiered charge that means the more you invest, the lower your percentage charge.
PLUS some great new benefits:
- Family linking – helping reduce the cost of investment further. See our family linking webpage.
- A competitive dealing charge for exchange traded investments.
You can find out more about our new benefits below.
A quick reminder of our charges
Please be assured that there are no changes to the rates you currently pay Old Mutual Wealth for your existing investments.
We still have the same tiered charging structure for our Product/Service Charges which means the more you invest with us, the lower your charge percentage will be:
|Amount invested||% charge|
|From £25,000 to £250,000||0.30%|
|From £250,000 to £750,000||0.25%|
|More than £750,000||0.15%|
Here are some examples of what you can expect to pay, based on the total amount you have invested with us:
|Account value||Effective charge|
Please note that when investing in our WealthSelect Model Portfolio Service via our ISA or Collective Investment Account, VAT applies to the service charge.
Other charges may also apply, depending on the product you are invested in – your product Terms & Conditions document will give details of the charges you will pay.
A competitive dealing charge for exchange traded investments
Our technology upgrade will bring you new products and more choice, including the option to invest in exchange traded investments. Exchange traded investments are complex and won’t be suitable for everyone, so please speak to your financial adviser for more information and before making any investment decisions.
If your adviser recommends this investment option for you, each time you buy or sell an exchange traded investment through Old Mutual Wealth, we need to use a stockbroker to facilitate this. This means that a dealing charge will apply every time an asset is bought and/or sold via the exchange.
To help make this easier, we’ve partnered with experienced stockbroker, Winterflood Securities, to provide a competitive and straightforward service. The price you pay to trade your assets depends on whether or not they are held in a model portfolio, as shown below.
Please speak to your financial adviser for more information about exchange traded investments and whether they could meet your investment needs.
- Trades inside a model portfolio: £1 per asset being bought or sold.
- Trades outside of a model portfolio: £3.50 for trades valued at less than £10,000, or 0.035% for trades valued at more than £10,000.
- There is also a £15 cap per asset traded, meaning you’ll never pay more than this for a single trade.
- Please note, stamp duty reserve tax* and a PTM levy** apply when trading investment trusts, which your adviser can discuss with you.
*Stamp Duty Reserve Tax of 0.5% of the transaction is levied when you buy an Investment Trust. It does not apply when selling an investment trust.
**What is a Panel on Takeovers and Mergers (PTM) levy?
The PTM levy is a charge of £1 that applies to any transaction (for example if you buy, sell, or switch an investment trust) with a value of greater than £10,000. The levy goes to the Panel on Takeovers and Mergers – a regulatory body set up to ensure that all shareholders are treated equally during takeover bids – as payment for evaluating the transaction.