Novia Financial to cut platform charges from January

Private equity-backed adviser platform Novia Financial will cut platform 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, it said. The new charges will be applied to new and existing clients. Under the new terms, a customer with a £150,000 portfolio would have paid an annual platform charge of £750 and will now pay £450 where the adviser firm holds more than £...