Aviva introduces on-going adviser charging on investment bonds

Article date: 17 June 2013

  • Additional choice and flexibility for customer and adviser
  • Now available on new and existing investment bonds
  • Helps advisers achieve optimum service levels for their customers

Aviva has today introduced the option to add an on-going adviser charge to its new and existing investment bond contracts, providing advisers with the functionality to easily reflect on-going advice they provide to their bond customers.

Adviser charging is already available across a range of Aviva products including pensions, annuities and retirement plans and is based on three simple pillars - clarity for customers, simplicity for advisers and value for money. Advisers can choose from initial and on-going adviser charges on a regular, single or transfer basis. This full functionality has now been extended to include all new bond applications via the Aviva Select Investment bond and to a range of existing bonds.

There are several flexible fee options so advisers can choose from a fixed charge or a percentage of the initial premium. All charges will be displayed clearly on Aviva quotes which will help ensure customers fully understand what they are paying.

Tim Orton, Product Director for Aviva Pensions & Investments, says: “On-going adviser charging is already available and very popular on many of our products, so introducing it on our investment bonds was a critical development for us. It also demonstrates our continued commitment to supporting advisers in their transition to a fee based, post-RDR environment.

“In an attempt to make it as open and transparent as possible, there is a range of fee options, so advisers can choose an option best suited to both them and their client and gives them control over their own charging structure.

“Later this year, advisers will also be able to quote and apply online for new business applications which will include an on-going adviser charge.”

What advisers need to do?

To apply an on-going adviser charge to a new Aviva Select Investment Bond or existing bond policy, advisers should send Aviva:

  • a completed Adviser Charge Agreement signed by the policyholder
  • an illustration showing the effect of charges on the projected growth rates

All the documents can be found on the Aviva for Advisers website library - http://www.aviva-for-advisers.co.uk/adviser/site/public/library

For more information, or to check a customer's policy is eligible for on-going adviser charging, please speak to your Aviva consultant. A guide to Adviser Charging can also be found on http://www.aviva-for-advisers.co.uk/adviser/site/public/support/business-building/rdr


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If you are a journalist and would like further information, please contact: Fiona Whytock:

Aviva Press Office: 01904 452659: 07800 692299: fiona.whytock@aviva.co.uk

Notes to editors:

Aviva provides insurance, savings and investment products to 34 million customers worldwide.

We are the UK’s largest insurer with over 14 million customers and one of Europe’s leading providers of life and general insurance. We combine strong life insurance, general insurance and asset management businesses under one powerful brand. We are committed to serving our customers well in order to build a stronger, sustainable business, which makes a positive contribution to society, and for which our people are proud to work.

We are ranked as one of the UK’s top ten most valuable brands and Aviva Plc is in the top 10% of socially responsible companies globally in the Dow Jones Sustainability World Index.  In 2012 we invested £5.7m into our UK communities. One in three of our employees were involved in community investment activities which included giving nearly 30,000 hours.

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