1
See your family's wealth as one
Benefit from lower administration fees as combined investments grow.
2
Benefit from managing money well
Get up to 30% of qualifying investment management fees back through Vitality Money Payback.
3
Give the next generation a head start
Get up to 100% off asset management fees on qualifying children's investments.
MAKE MORE OF FAMILY WEALTH
What is the Family Wealth Consolidator?
The Family Wealth Consolidator brings together eligible investment plans in one family grouping, giving the family and its adviser a more complete view of its wealth. Combined qualifying assets can count towards lower administration fees and unique benefits, while every investor keeps full ownership and control.
WHO CAN JOIN
Build a family group that fits your family
A family group may include up to 10 members, subject to the published eligibility requirements.
Each member may belong to only one family group. Your adviser can help confirm eligibility.
SIMPLE DIGITAL SET-UP
Follow these three steps to set up your family group
Create the group
Log in, select Create a family group and name your group. You become the main investor. Your financial adviser can also do this for you.
Share the unique code
You'll receive a unique code by SMS and email. Share it with the persons you want to invite.
Approve requests
Each person logs in, enters the code and requests to join. You confirm each person's relationship to you and approve their request.
Up to 30% back
How Vitality Money Payback works
Through integration with Discovery Bank, Discovery Invest is introducing Vitality Money Paybacks on asset management fees providing short-term incentives in addition to our longer-term boosts. Vitality Money Paybacks depend on a client's Vitality Money status and the value of qualifying family assets, which include investments held in qualifying Discovery and Cogence funds across local and global products. The value of global investments is converted to rand when calculating qualifying family assets. Invest clients who hold qualifying Discovery Bank Black Credit Card Accounts or Black or Purple Suites, can receive Vitality Money Paybacks of up to 30% across Discovery and Cogence solutions, as well as up to 15% on a wide range of leading third-party asset managers. Vitality Money Paybacks are paid yearly in arrears directly into clients' investments, helping to grow their wealth over time while rewarding them for making smart financial choices within the Family Wealth Consolidator
Up to 30%
On qualifying Discovery and Cogence solutions
Paid into your investment yearly
Calculated monthly and paid on each investment anniversary.
From R3 million
Your family needs at least R3 million in qualifying Discovery and Cogence funds.
Requirement
You must hold a qualifying Discovery Bank product and have an active Vitality Money membership.
Timing note: Standard Vitality Money Paybacks on qualifying business are stated to start accruing from 1 January 2027.
FAQS
Frequently asked questions?
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What is the Family Wealth Consolidator?
The Family Wealth Consolidator brings qualifying family investments together in one view, providing consolidated family-level reporting, administration fees based on qualifying family assets and the ability to earn Vitality Money Paybacks. As qualifying family assets grow, investors can benefit from lower administration fees and enhanced benefits
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Is everyone's money pooled together?
No. While your family's investments are grouped together for reporting, fee calculations, and Vitality Money Payback purposes, each investment stays separate.
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How do lower administration fees work?
We add up the value of qualifying investments across your family group. This total sets the administration fee percentage on each qualifying investment, so the more your family invests, the lower the percentage could be. Product rules apply.
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What is the Vitality Money Payback?
The Vitality Money Payback returns part of the investment management fees on qualifying funds to your investment. You could get up to 30% on qualifying Discovery and Cogence funds, and up to 15% on other eligible funds, depending on your family's investment in qualifying Discovery and Cogence funds and your Vitality Money status. We calculate it monthly and pay it into your investment on each investment anniversary. Product rules and eligibility criteria apply.
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How does the children's benefit work?
Children younger than 18 can qualify for a higher Vitality Money Payback of up to 100% on Flexible Investment Plans held in their own name that are invested in qualifying Discovery and Cogence solutions.
The Vitality Money Payback is 50% when your family has R3 million to R4,999,999.99 invested in qualifying Discovery and Cogence funds, and 100% from R5 million.
It applies to up to R300,000 a year across all children in the family group and stops when a child turns 18. Children don't currently need a qualifying Discovery Bank product. Speak to your financial adviser for more information.
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Can a financial adviser manage the family group?
Yes. Your financial adviser can create a family group for the main investor and help your family understand which investments and benefits qualify.
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Which investments qualify?
Only the latest versions of certain Discovery Invest investments qualify for lower administration fees and the Vitality Money Payback. Your Investment Certificate or investment summary shows whether your investment qualifies.
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Do I need to be a Vitality Money member?
To qualify for a Vitality Money Payback, you need an active Vitality Money membership. You must also be the main accountholder of a Discovery Bank Black Credit Card Account or a Discovery Bank Black or Purple Suite.
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Can a family trust or company join?
Yes. A family trust where the main investor is the settlor, or a family company where the main investor is the majority shareholder, can join. To qualify for a Vitality Money Payback, the responsible person recorded on the policy must hold a qualifying Discovery Bank product in their own name.
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Who can see my investment information?
The main investor can view the family's consolidated wealth on the family dashboard. Your financial adviser can see only the members of the family group and the investments they service.
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What happens if a member of the family group leaves?
You can leave a family group at any time. Your investments stay exactly as they are, but they no longer count towards the family total. This may change the administration fee and Vitality Money Payback for you and for the members who remain.
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Can members of a family group use different financial advisers?
Yes. Each member in a family group can use a different financial adviser. However, the financial adviser can see only the members of the family group and the investments they service, and not the entire family wealth.
Discovery Invest
A more complete platform for family advice and family investing.
Page notes
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This content is meant only as information and should not be taken as financial advice. For tailored financial advice, please contact your financial adviser. The views and opinions expressed in this article are for information purposes only and should not be seen as advice as defined in the Financial Advisory and Intermediary Services Act. Discovery shall not be liable for any actions taken by any person based on the correctness of this information. For full details on the products, benefits and any conditions, please refer to the relevant product fact file. For tailored financial advice, please contact your financial adviser. Discovery Life Investment Services Pty (Ltd): Registration number 2007/005969/07, branded as Discovery Invest, is an authorised financial services provider. Product Rules and Terms and Conditions Apply