Novia to halt cash rebates from April 2014

As part of its preparations to operate with a total transparent pricing system, the platform said it would be stop accepting cash rebates on new and legacy business from April 2014. From next month, the platform is also beginning a process of automatically converting retail share classes to the clean equivalent, where the clean share class is no more expensive. Novia said the conversion process will not result in a charge for advisers or clients. Where there is no clean share class available, the investment will remain in a retail share class. Novia said that where investments are ...