Clubfinance

Old Mutual Wealth's platform



You can invest in over 1,250 funds (Unit Trusts and OEICs (Open Ended Investment Companies)) on Old Mutual Wealth's platform ('OMW', formerly Skandia Investment Solutions), using Clubfinance as your intermediary. Included below are the relevant forms and information to invest in the OMW ISA and OMW Collective Investment Account. Please click here for information on the OMW CRA (Collective Retirement Account - this is a Personal Pension). Please contact us if you are interested in other services available on OMW (e.g. the Onshore Collective Investment Bond, or setting up a corporate or trustee account). Investment restrictions may apply to any Structured Products that may become available on OMW.

Already on OMW's platform, but want to use Clubfinance?

To appoint us as your agent simply print, complete and send us the following form:

OMW Change of Agent Pack

For all other important documentation click here

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. This page covers Charge Basis 3, which is now the only Charge Structure available for new accounts through Clubfinance.

Platform Charges

Regulatory requirements 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 Service 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. Some accounts can be linked for the purposes of calculating the Old Mutual Wealth's Service Charge, which can reduce your overall charges. See Client Linking below for details.

OMW Service Charges for Clubfinance clients
Tier
% charge within tier (inc. Clubfinance fee)
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%
Examples of charges at different portfolio values
Portfolio value
Effective charge (inc. Clubfinance fee)
£25,000
0.50%
£50,000
0.43%
£100,000
0.39%
£500,000
0.32%
£1,000,000
0.28%

                      
Clubfinance customers can access a 0% initial charge on over 1,200 funds on Old Mutual Wealth's platform. There are a minority of funds that do have an initial charge on the platform, so please check the OMW fund list before investing.
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 Old Mutual Wealth's platform.

Forms and Documentation

Please see below for the forms and information applicable to the OMW Collective Investment Account (CIA) and Individual Savings Account (ISA).

Document
(Click to open)
New investment Switch Re-registration ISA transfer Complete & send in?
OMW Specific
Key Features of the Individual Savings Account (ISA)
Key Features of the Collective Investment Account  
Terms & Conditions for the ISA (Charge Basis 3)
Terms & Conditions for the Investment Account (Charge Basis 3)  
OMW charges information
OMW Fund List
Fund Key Investor Information Documents / Simplified Prospectuses
Clubfinance OMW Fee Statement
Application for an ISA
Application for a Collective Investment Account
Adviser fees authorisation
Switch/Redirection Request
Clubfinance documents
Clubfinance’s - About our services document
Clubfinance ISA Transfer Risk Warnings
Clubfinance Terms of Business
Clubfinance Client Declaration

Key

- It is important to read, understand and retain copies of these documents and if the 'Complete and send in?' column is ticked, please send a completed copy to Clubfinance with your application. Please contact us if there is anything you don't understand.

How to invest

Make sure you have the latest versions of the relevant Clubfinance documentation, OMW Key Features and Terms & Conditions documents, OMW charges information, OMW fund list, and the Key Investor Information Documents or Simplified Prospectuses for the individual funds in which you want to invest. Make sure you have read, understood, and kept copies of the relevant documents indicated in the table above. For those documents relevant to your transaction with a tick in the 'Complete and send in?' column, please print off a copy to complete and send in. For new to Clubfinance clients, we will carry out an electronic identity verification check, but as this is not always successful, you may want to include paper documents to reduce the chances of delay close to a deadline for example (see Clubfinance Identification Requirements for details).

Please remember that you must send all documents, including a Clubfinance Client Declaration, to Clubfinance Ltd and not direct to Old Mutual Wealth, in order to benefit from our service. Click here for full details of the process.

Our postal address is:

       Clubfinance Ltd
       PO Box 1036
       Hemel Hempstead
       Hertfordshire
       HP1 2WU

Other Forms

Form Name Comment
Bed & ISA supplementary application
Use to withdraw money from your Collective Investment Account (CIA) for investment into an ISA. Please refer to "New investment" in the table above for the other documentation required - you still need to complete the "Application for an ISA" form in addition to the Bed & ISA form.
Change of address form
Use to change your name or address.
Automatic withdrawal/income payment form
Use this form to set up a new or amend an existing automatic withdrawal/income payment instruction.
Direct Debit instruction
Use to change the bank details for regular monthly investments by Direct Debit.
Switch/redirection request
See table above under switch. This form can also be used to restructure your portfolio and/or redirect future direct debits into different funds.
Third party payer form
Use this form if funds come from someone other than the account holder. The third party will also need to provide identification documents and a Clubfinance Client Declaration.
Non-ISA Withdrawal/Closure Form
Use this form to sell part or all of your holdings in the Collective Investment Account (CIA).
ISA Withdrawal/Closure Form
Use this form to sell part or all of your holdings in the Old Mutual Wealth's platform Individual Savings Account (ISA).
Client Linking Request
Use this form to link accounts for the purposes of calculating the OMW Service Charge.

Summary Details

This is only a guide. Full details will be contained in the Key Features and Terms & Conditions for the fund supermarket.

New investment
Clubfinance makes no charges other than our 0.05% annual fee for new investments (OMW's Service Charges and fund charges apply).
The minimum investment to open a new account is £2,500. There is currently no minimum for additional investment into an existing account.
The minimum regular investment is £99 per month.
Details of the individual fund charges can be found on the following link:

OMW fund list

Re-registration
The minimum accepted for re-registration to open a new account is £2,500.
There is no charge for re-registration. You can only re-register an entire OEIC/unit trust, not a partial holding.
Note that your existing plan manager may make a charge or exit fee, so please check this with them first. The fund list sets out which funds can be re-registered:

OMW fund list

For re-registration, Clubfinance makes no charges other than our 0.05% annual fee (OMW's Service Charges and fund charges apply).

ISA Transfer
For ISA transfers, Clubfinance makes no charges other than our 0.05% annual fee (OMW's Service Charges and fund charges apply).
The minimum lump sum investment to open a new account is £2,500.
Note that your existing plan manager may make a charge or exit fee, so please check this with them first.
If you would like to know the charges and rebates on particular funds, please see the OMW fund list:

OMW fund list

Switch
We do not take any initial commission or fee on switches. The usual initial fund charge will apply (usually 0%). Please refer to the current OMW Fund list for details.

OMW fund list

Funds are bought and sold, so could also have a difference between the buying and the selling price, or a dilution levy may be applied.

Client Linking
For investments held on Old Mutual Wealth's platform Charge Basis 3 (charges as set out on this page), some accounts can be linked so that the combined values of the linked accounts are used for the calculation of the OMW Service Charge, which can reduce this charge given the tiered charging structure.

The following investors are eligible for Client Linking.

  • Spouse/Civil partner (as defined by the Civil Partnership Act 2004).
  • Trust - where the client or the client's spouse/civil partner is the settlor of the trust (including cases where he/she is investing for children/grandchildren).
  • SIPP investing in the Collective Investment Account (CIA) - where the client or the client's spouse/civil partner is the SIPP member.
  • A CIA held within an offshore bond, where the client and/or the client's spouse/civil partner (as defined by the Civil Partnership Act 2004) are the bond holders or settlors of bonds held in trust.
  • Client Linking Request

Old Mutual Wealth's platform ('OMW') Information Request

If you already have an Old Mutual Wealth's platform ('OMW') account, and are interested in appointing Clubfinance as your agent to access Clubfinance's 0.05% annual fee under Charge Structure 3, please see Change of Agent.



Important Information

Clubfinance Ltd is authorised and regulated by the Financial Conduct Authority (firm reference no. 400139). Clubfinance offers an execution-only discount broker service; Clubfinance does not give advice or recommendations. If you have any doubt about the suitability of a particular product or service, or you require advice, you should seek a personal recommendation from an appropriate firm that does give advice. Clubfinance does not produce the products it arranges, or manage the underlying investments. Payments must not be made to Clubfinance, but to the relevant product provider. Contact details for Clubfinance can be found under 'contact'. Users of this website should be aware of the following:

  • Past performance is not a reliable indicator of future results.
  • The value of investments and the income from them can fall as well as rise as a result of market and currency fluctuations. For many types of investment, you may be placing your capital at risk, meaning that you may not get back the amount originally invested and you may risk losing your entire investment.
  • Some investments and policies may only be suitable as medium or long-term products.
  • Tax treatments depend on your individual circumstances and may be subject to change in future.
  • This website contains financial promotions relating to services offered by and products available through Clubfinance.
  • In the event of any conflict between product literature and information provided by Clubfinance, the product literature shall prevail.

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Anyone who is not a UK resident should not continue with this site unless wishing to read about personal finances available to UK residents for informational purposes only.

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