Our Family and Friends Network allows clients to share the benefits of the Netwealth service. As a client, you can invite up to 7 additional family members or friends to your Network, allowing access to the service and driving fee benefits for everyone.
Fees are calculated based on the total contributions made by all members of the Network, inviting members to your Network gives you and other members of the Network the opportunity to reach a lower band of fees.
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Inviting friends and family to join your Network allows them to benefit from the Netwealth service even if they are unable to meet our minimum investment of £50,000. Providing that the Lead Investor of the Network has contributed the minimum investment of £50,000 any friends or family members that they have invited receive a lower minimum investment of £5,000.
If you want to join or start a new Network, you will have to leave the Network that you are already a member of as you can only be a member of one Network. Please note if you leave your Network your fee rate might change.
If at any point the net contributions to the Lead Investor’s Account falls below £50,000, and no other member of the Lead Investor’s Network is at or above £50,000, we reserve the right to sell all the investments in each member's account and return the proceeds to each of them. We will give you at least three months’ notice before we do this and if within this time the net contributions of any client who is a member of the Lead Investor’s Network rise above £50,000, we will not proceed with this process.
For example, if John as lead investor opens a general investing account with £200,000, he will pay an annual all-in fee of 0.65% to Netwealth.
However, John can then invite others to join his network. For example, if his mother invests her ISAs of £30,000, and his spouse adds her personal pension of £100,000, they will all benefit from the reduced all-in fee of 0.5% since their total Network's assets are £330,000.
The lead investor’s son could also open an ISA with £5,000 and will gain access to the full Netwealth service and the Network's lower fee rate. If desired, he can continue to add to his savings from as little as £100 per month.