Aviva has unveiled a new pricing structure for its high-net-worth (HNW) investors with more than £400,000 portfolios.
Under the new pricing structure, the HNW investors will have to pay 0.15% for their investment portfolios, while those with less will have to pay 0.25%.
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The investors of pensions portfolios will pay 0.10% at Aviva’s core level, which comes with a 0.05% discount and 0.15% at its choice and flex levels. The latter also carries an annual charge of £250, and all three levels carry an annual drawdown charge of £100.
However, Aviva’s investment fund charges will range from 0.1 to 3.5%, while its fund charges in core level pensions portfolio will reach 1.75%.
As part of the new pricing structure, an investor with up to £29,999 will pay 0.40% for a choice or flex level pension portfolio.
It is said that the core level pension portfolio will be offered with a 0.05% discount on all wealth tiers.
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By GlobalDataPhil Ralli, head of platform proposition at Aviva, said: "We have listened to our advisers and changed our pricing in line with their growing demand for more flexibility and simpler terms at the higher end of the market.
"Of course, many customers have larger portfolios as they near retirement age and we want advisers to be able to offer competitive rates in order to attract this wider client base," Ralli added.
