What you need to know
From 19 October 2026, Discovery Invest will consider qualifying investments across a family group when determining the administration fee for new business. Recognising the combined qualifying value may result in lower administration fees. This does not establish an automatic fee reduction on every existing investment.
The Family Wealth Consolidator also introduces Vitality Money Paybacks on asset management fees, with accrual beginning on 1 January 2027. Administration fees and asset management fees are separate parts of the announcement and should be compared separately.
Invest clients with qualifying Discovery Bank Black Credit Card Accounts or Black or Purple Suites may receive up to 30% back on asset management fees for qualifying Discovery and Cogence solutions, or up to 15% for other asset managers. The announcement also describes up to 100% back on asset management fees when investing for children through Flexible Investment Plans. Eligibility and the applicable product rules need to be confirmed.
For a limited launch offer, Discovery Bank clients with a Vitality Money status qualify for minimum paybacks of 20% on eligible Discovery and Cogence solutions and 10% on eligible third-party asset managers. The offer applies to new business from 19 October 2026, is valid until 31 December 2026 and applies for the first three years of the investment, subject to the offer terms.
The redesigned Invest web experience, scheduled from 19 October 2026, will show portfolio growth against contributions, cash flows, fund allocations and local and global asset allocation. A dedicated family wealth dashboard is also planned. These tools are intended to support a clearer discussion of a family’s overall financial position.
Original Discovery information
Visit Discovery
Who is this relevant to?
Families with qualifying Discovery investments, clients considering new investments and qualifying Discovery Bank clients exploring the announced fee-payback benefits.
Your next step
Ask your Cherokee Wealth adviser to confirm which family members and investments qualify, compare the total fees and explain the launch offer. Consider your investment objectives, time horizon and risk requirements before making changes.
Important details
Fee paybacks are not investment returns and do not guarantee capital growth. “Up to” amounts depend on eligibility and product conditions. Consolidation relates to the administration fee for new business; confirm treatment of existing investments. Verify the launch-offer deadlines and requirements against the official terms.
Source: Discovery Day 2026 — eDiscoverer launch highlights, October 2026
