Wrap Novia has announced it is now ready for the retail distribution review (RDR) and has started trading with its RDR-compliant model from today.
The platform has changed its documentation replacing the word commission with adviser charging.
The platform will make further enhancements in January 2013 including the introduction of online ad-hoc adviser charging and also move to allow initial and ongoing charges to be stated as a percentage or fixed monetary amount.
Novia chief executive of Bill Vasilieff (pictured) said: 'We are delighted to be in a position to announce that as of today the Novia platform meets all the necessary requirements to be RDR compliant.
'The changes required by the RDR can only be a good thing for the industry, forcing a drive towards greater professionalism as well as a focus on client servicing. We are delighted to be a in a position to provide this ahead of schedule to our supporting advisers.'