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Novia unveils pricing for wrap

Novia has unveiled the pricing structure for its wrap ahead of its autumn launch.

There are no fund switching charges, re-registration fees and pricing will be unbundled.

Annual charges are on a sliding scale according to the amount of assets a client has on the platform, starting at 0.5 per cent for the first £250,000.

This charge drops to 0.4 per cent for assets between £250,000 and £500,000, 0.3 per cent for assets between £500,000 and £750,000, 0.2 per cent for assets between £750,000 and £1m and 0.15 per cent for assets over £1m.

Novia has yet to determine at what level it will set its initial charge.

Chief executive officer Bill Vasilieff says: “We are passionate about transparency, as there has been a lot of unhappiness with the UK financial services industry due to the opaqueness within some products.

“Our unbundled pricing will help give clients confidence in the charges they pay.”



Technical changes to automatic enrolment

What with all the pensions freedoms and budget announcements of the last few weeks, you may have missed the announcement that will be of importance to all UK employers – and that is the Technical Changes to Automatic Enrolment document published last month by the DWP.


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