Aviva cuts wrap charges

From 17 January, charges for new investors will be reduced from a maximum of 0.55% to 0.25% for the life of the contract. Aviva says the cut in charges means a customer investing £50,000 will save £150 a year. "This offer is good news for our customers and advisers because it cuts the cost of investing," says senior marketing manager Phil Ralli. "It also gives advisers more choice at a time when they are focusing on ISA and tax planning for their customers in the lead up to the tax year end." The move comes on the back of the wrap removing its initial charge in November.   ...