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 • 3 min read

Adviser platform Novia Financial’s recent price cuts were made to help prime it for the future as the platform marketplace enters a new phase, chief commercial officer (CCO) Barry Neilson says.

Earlier this week, the private equity-backed platform announced a cut in 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. Talking to Professional Adviser, Neilson said: "The price change is part of our activities to recalibrate our business priming it for the future as the platform marketplace enters a new phase and these reductions are fully costed into our long-...

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