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

  • 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.



Already a Professional Adviser member?


More on Platforms

Novia chief commercial officer Barry Neilson

Novia's platform cuts 'part of activities to recalibrate the business'

Novia’s CCO weighs in on recent price cuts and the platform’s future

Ayesha Venkataraman
clock 24 November 2022 • 3 min read
Atomos chief operating officer Niral Parekh

Atomos enters strategic alliance with SS&C on new platform service

Offering investments via digitally enabled wrappers

Ayesha Venkataraman
clock 21 November 2022 • 1 min read
Consumer Duty rules drive advice firms to run their own platforms

Consumer Duty rules drive advice firms to run their own platforms

Investment platforms integral to professional advice, experts say

Julia Bahr
clock 16 November 2022 • 5 min read