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Skandia launches spouse and civil partner linking


Skandia will now allow spouses and civil partners to combine assets to benefit from lower charges on its platform .

The service went live this month and is available to any civil partner or spouse of a client. Skandia currently tiers charges between 50bps for the first £25,000 down to 15bps for assets above £1m.

The offer means, for example, if spouses combine individual assets of £100,000 each, the charge is reduced from 39bps for a £100,000 portfolio to 34bps for a combined £200,000 holding.

Skandia’s charges 
Bands of investment Rate of charge
First £25,000 0.50%
From £25,001 to £100,000 0.35%
From £100,001 to £500,000 0.30%
From £500,001 to £1m 0.25%
More than £1m 0.15%
Minimum charge £8.33 per month

Clients can combine assets where a spouse or civil partner is the settlor of a trust on behalf of beneficiaries and also covers Sipp assets. Other family members are not eligible for the service. 

Skandia UK managing director Peter Mann says: “This will appeal to spouses and civil partners who will be able to combine investments and get a lower charge as a result.”

A number of platforms including Transact, Zurich and Axa Elevate offer investment-linking services aimed at spouses and other family members.

Thomas and Thomas Financial Services managing director Darren Lloyd Thomas explains: “We are already looking at which clients can benefit from it. Although other platforms already do something similar, Skandia is more competitively priced.”


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