Aviva has announced the removal of Exchange Traded Instruments (ETI) charges from its Adviser Platform, effective immediately. This move eliminates additional costs for clients invested in individual equities and ETFs, making the platform more transparent and easier to navigate. The change means that advisers can build and refine portfolios for their clients without having to factor in multiple charges, resulting in consistent and predictable pricing.
The removal of ETI charges is the latest step in Aviva’s efforts to simplify its pricing model. Last year, the company removed the £1.50 trading charge on ETFs held within models. Now, clients will only be charged a single platform fee, with no hidden costs or additional charges for services such as trading, product wrappers, SIPP Admin, Drawdown, rebalancing, or switching funds.
According to Al Ward, Head of Aviva’s Adviser Platform, this change is an important step in providing fair value to clients. The company believes that transparent charging is essential in demonstrating the value of financial advice, particularly in light of the Consumer Duty regulations. Research conducted by Aviva found that 87% of advised clients agree that financial advice offers value for money, and 77% believe they are better off with financial advice.
The removal of ETI charges is a significant improvement to Aviva’s Adviser Platform, making it easier for advisers to deliver clear and transparent outcomes for their clients. By simplifying its pricing model, Aviva is committed to continuing its drive to provide fair value to clients and demonstrate the value of financial advice. This change is expected to have a positive impact on the industry, promoting transparency and fairness in financial services.
The research conducted by Aviva also highlights the importance of transparent charging in providing fair value to clients. The company’s efforts to simplify its pricing model are a step in the right direction, and it is likely that other financial services providers will follow suit. By providing clear and transparent charging, Aviva is setting a high standard for the industry and demonstrating its commitment to putting clients first. Overall, the removal of ETI charges is a positive development for Aviva’s Adviser Platform and the financial services industry as a whole.