Aviva reduces AMC on wrap

The move, effective from 6 April, will see the AMC for portfolios worth between £125,000 and £200,000 reduced from 0.5% to 0.3%, with reductions applying to other investment sizes. The cut in its charge comes on the back of the re-launched wrap removing its initial charge in February for new and existing customers. Head of wrap Nicholas Burton says the reduction is in line with the FSA's focus on improving value for customers, as set out in its Platforms Discussion Paper. In the paper, the regulator said adviser firms should ensure they have appropriate governance and oversight pro...