Novia Financial to cut platform charges from January

‘Share the benefit of our increased scale by reducing our standard platform charge’

Ayesha Venkataraman
clock • 2 min read

Private equity-backed adviser platform Novia Financial will cut platform charges starting from 1 January 2023.

The reduction will see the headline rates paid by a typical Novia client, with between £100,000 and £200,000 on the platform, reduced from 0.50% to 0.30% and 0.35% respectively for firms with over and under £10m of assets on the platform, it said. The new charges will be applied to new and existing clients. Under the new terms, a customer with a £150,000 portfolio would have paid an annual platform charge of £750 and will now pay £450 where the adviser firm holds more than £10m of assets under administration (AUA) on the Novia platform (£525 for those firms holding up to £10m of AUA). ...

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