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). ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Platforms

Schroders UK Platform Awards 2024: One week left to vote!

Schroders UK Platform Awards 2024: One week left to vote!

Awards to be held on 24 September at the London Hilton Park Lane

Professional Adviser
clock 19 July 2024 • 1 min read
Unbiased increases subscription fees due to rising costs

Unbiased increases subscription fees due to rising costs

Platform has increased subscription fees by 7.5%

Isabel Baxter
clock 18 July 2024 • 1 min read
Schroders UK Platform Awards 2024: Adviser entries open!

Schroders UK Platform Awards 2024: Adviser entries open!

Awards to be held on 24 September at the London Hilton Park Lane

Professional Adviser
clock 14 June 2024 • 2 min read