View more on these topics

Novia updates platform for pension freedoms

Clients on Novia’s platform will be able to enter flexi-access drawdown or use new uncrystallised funds pension lump sums.

There is a £62.50+VAT annual charge for using drawdown, and a £62.50+VAT per annum cost for making withdrawals with the UFPLS option.

The platform charge is 0.5 per cent up to £250,000, 0.4 per cent up to £500,000, 0.3 per cent up to £750,000, 0.2 per cent up to £1m and 0.15 per cent for funds over £1m.

Drawdown customers will be able to take regular income annually, quarterly or monthly.

There will be no limits on the number of UFPLS withdrawals someone can make, or a minimum level.

Novia has also updated its death benefit rules to allow people to pass on pension assets to a beneficiary on death. Beneficiaries choosing to take their income through drawdown will be paid without deduction of income tax.

Business development director Shaun Allwright says: “We are delighted to be able to offer our clients and advisers access to all the pension freedom reforms from day-one.

“We have been working closely with our software provider GBST to ensure all of these will all be available from the outset, thereby ensuring advisers can maximise for their clients any potential benefit the new pension freedoms regulations might provide.”



FOS upholds four Harlequin complaints against advice firms

The Financial Ombudsman Service has upheld four complaints regarding Harlequin investments against advice firms since the beginning of the year. The Harlequin group of companies marketed and built overseas luxury property developments, and is under investigation by the Serious Fraud Office. In a decision against West Sussed-based IFA Regency Financial Resources, the FOS ruled the […]


Kim North: Hunter instincts and the advice process

Sitting in a chartered and certified IFA business I am bombarded with online messaging. I would love to have the luxury of clicking through from a Money Marketing headline to read a whole article but a client’s email appearing over the website will always take priority. So I deal with my client’s request, keep reading […]


Experts blast ‘misguided’ Labour non-dom plans

Plans to end tax loopholes allowing individuals to claim non-domiciled status are “reckless” and “misguided”, according to economics experts. Labour announced plans to stop individuals claiming non-dom status this morning, and Labour leader Ed Miliband has said the plans will raise “hundreds of millions” in tax revenue. However, the Centre for Economics and Business Research […]

Life begins at…

By Fiona Holmes, proposition communications manager Having reached a certain age (it’s the new 40 by the way), I’m having to come to terms with the fact that my peers and I aren’t as immune from illness or death as we’d like to think. That’s the problem with 30 being the new 20 and 40 […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm