Novia sets £75 adviser fee for TVAS service after FCA inducement concerns

The adviser platform said the additional charge was merely to cover administration costs and to solve the inducement concerns raised by the Financial Conduct Authority (FCA).    A Novia spokeswomen said: "We will be continuing to provide the TVAS tool to our adviser clients, but will be implementing a small charge to cover the administration costs to provide the service. This will be £75 plus VAT applying to all applications received from 6 April." The charge will apply for every transfer value that is analysed using Novia's tool.  In March, the FCA released a policy statement conc...