Platform pricing update

The STANLIB Platform is on a journey to change the way investments are done and provide a world class service experience. One of our first steps on this journey is to simplify and standardize our platform administration fee.

Please read on for everything you need to know about this exciting change.

Alternatively watch a short video where our Head of Proposition, Michael Summerton shares all you need to know.

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What is our pricing philosophy?

Our commitment to superior service means that our pricing structure will be:

Simple Our fees are easy to understand, explain and apply;
Consistent We charge a similar fee for a similar level of service;
Transparent Fees are clearly disclosed;
Competitive Our fee remains competitive.


How will the new pricing structure work?

We will be changing our fee for administration to a sliding scale, as follows:

Account value Fee per annum excl. VAT
First R2,000,000 0.48%
R2,000,000 to R4,000,000 0.20%
Above R4,000,000 0.10%

A minimum monthly fee of R20 excl. VAT per account will apply.

If clients have multiple accounts with us, we view each account separately when calculating the fee, and cannot aggregate across client accounts at this point in time.

STANLIB Platform will continue to pass on any management fee discount or rebate to clients invested in Unit Trusts where applicable. Clients will receive the discount or rebate as a reduced platform administration fee.


Which STANLIB Platform Products are impacted?

We are changing our fee for platform administration for these products:

  • Classic Investment Plan
  • Classic Retirement Plan
  • Classic Preservation Pension Plan
  • Classic Preservation Provident Plan
  • Classic Linked Life Annuity

Some of our products are capped for new business or behave a little differently, and so we won’t be updating their pricing:

  • STANLIB Linked Investment Tax Free Savings Plan
  • The Standard Bank GoalStandard Range
  • Multivest / Maturelink
  • Charter Linked Life Annuity
  • Direct Unit Trust Retirement Solutions
  • The Classic International Investment Plan

How are accounts with very small balances being affected?

We value all our customers and to protect very small investment accounts from eroding due to fee deductions, we will be closing accounts with a value of R50.00 or less for products included in the pricing change. This will take place in April/May 2018. We will keep a record of the amount in all these accounts at the time of closure, and clients will be welcome to request this amount from us at any time. Alternatively, clients may consider increasing or consolidating their investments prior to the effective date of the account closure.


How does this change impact clients?

Our fee change may result in an increase or a decrease in monthly fees for our clients. It all depends on a client's current fee structure, and the size of an investment account. We have provided all clients affected by the change with information regarding the fee they currently pay and what they can expect to pay in future. If you haven’t received your information, please contact us to request a copy.


What is happening to the Fundamental Choice Fund Range?

We currently offer a fund range referred to as Fundamental Choice. This structure operates on an all-in fee methodology, where the Financial Adviser ongoing advice fee is included in the Investment Management fee of the Unit Trust Fund. These fees are deducted within the Unit Trust, and will reflect in the unit price, and are not deducted from client investment accounts explicitly by way of a unit deduction.

As part of our pricing simplification we will be closing this fee range. We will cap the Fundamental Choice funds to new business from 1 March 2018. When we close the funds, we will move clients money into the same Unit Trust Fund in which it is currently invested, but into a different fee class with a transparent fee structure.

Clients whose entire account is invested in this fee range will need to agree on an ongoing advice fee with their Financial Adviser, and send notification of this to us by 1 June 2018.


When is the fee change taking place?

The change will take effect in June 2018.

When is the change taking place

How will we keep you informed?

We have communicated the change to all clients experiencing a fee change, as well as their Financial Advisers. We will also send a reminder before the implementation date.


Need to know more?

Clients may contact their Financial Adviser for additional information. Alternatively our STANLIB Service Centre is here to help on 0860 123 003.

Click here to download a guide with regards to these changes.