Aviva Wrap is cutting its maximum charges from 0.55 per cent to 0.25 per cent for new customers investing in Isas and collective investments through the platform.
The tiered annual charge is replaced by a lower flat-rate charge for Isas and collective investments. The reduced charges are applicable for new customers who invest between January 17 and September 18.
Senior marketing manager Phil Ralli says: “This cuts the cost of investing and gives advisers more choice at a time when they are focusing on Isa and tax planning for their customers in the lead-up to the tax year-end.”
Technology & Technical director Kim North: “I would beg Aviva that if it gets clients through the door at 0.25 per cent, charges should remain at that level for the lifetime of the product.”
An Aviva spokesman says: “The reduced charges will be applicable for the lifetime of the product although terms and conditions will apply.”