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Aviva removes initial charge on platform

Aviva is removing the 0.5 per cent initial charge on its platform.

The move comes two weeks after Aviva reopened its wrap for new business seven months later than expected.

From February 15 until the end of 2010, there will be no initial charge on any new contributions invested in any Aviva wrap portfolios.

Aviva is also adding 13 funds to its wrap and Sipp.

Aviva head of investments marketing Anthony Rafferty says: “By removing initial charges and extending the range of funds available to advisers and their clients, we are making it easier for them to build a diversified portfolio from a wide range of asset classes managed by an extensive list of fund managers. Our aim is to have 2,000 funds on Aviva wrap and Sipp by the end of 2010.”

Last month, Moneymarketing.co.uk revealed that Axa is removing the 1.5 per cent initial charge on the bundled pricing model of its Elevate platform.

However, a 0.5 per cent charge will remain on its explicit charging option.

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