Our costs explained
You’ll only start to pay if you’re happy with our service and decide to invest with us
We put you first
We want you to be comfortable with our advice and your plan. After all, it’s tailored to you and what you want to achieve. That’s why everything from the initial appointments to receiving your investment plan comes with no charge.
If you decide to action your plan and invest with us, you’ll start to pay for the personalised advice and product recommendations that you’ll receive from your dedicated expert advisers.
Please remember that investments can go down or up in value, so you may get back less than you originally invested.
Our ongoing advice service includes:
Your very own advisory team
Meet in person or online
A financial plan tailored to you
Expert investment advice
Personalised recommendations
Regular check-ins with your advisory team
24/7 online access to your plan
An example of our costs
The following example is based on a consistent value of your investments throughout a year. This is for illustrative purposes only – your investments can go down or up in value.
Your investment amount
£350,000
Service costs
(including ongoing advice costs and custody costs)
£2,800
Product costs
(including fund management fees and transaction charges)
£1,155
Total costs for your first year
£3,955
Your service costs will be taken automatically from your investment accounts and are charged monthly. Product costs will be taken directly from your fund, by the fund manager.
The actual fees you pay will depend on how much you’ve invested, how it’s managed and potential growth.
Understanding service costs
Service costs are a combination of ongoing advice costs and custody costs. The percentages in the table below are the annual fees payable. We take the monthly equivalent automatically from your investment accounts each month.
The ongoing advice costs cover access to your advisory team, who can review your plan if your circumstances change, making sure your plan meets your evolving needs.
Custody costs cover the safekeeping of your investment, the regular valuation and reporting of your accounts, and the collection of dividends, distributions and interest payments.
Service costs
Understanding product costs
Product costs cover the costs to manage a fund you’ve invested in. A fund management fee is charged annually on the total amount you invest. This covers Nova Bank’ role in managing the funds, as well as the external fund managers who have been carefully selected to manage your investments.
The example rate below may vary depending on your individual circumstances and investments.
Full summary of costs
Please read our Overview of costs and charges [PDF, 135KB] document for a full summary of Planning and Advice fees.
Start your Planning and Advice journey
Already bank with us?
Talk to an adviser about how our Planning and Advice service could help you meet your financial goals.
New to Nova Bank?
To access Planning and Advice, you’ll need to apply for a fee-free Premier Current Account. Eligibility criteria apply.
Join Premier Banking
To qualify for Premier Banking you must have at least one of the following:
£75,000+ annual income paid into your Nova Bank account
£100,000+ in savings or investments held with us, or a mix of both
Apply in the Nova Bank app
The quickest way to open a new bank account is using our app. Scan the QR code using the camera on your mobile device to download the Nova Bank app.
If you’re using your mobile device now, download it from your app store below.
Check your eligibility
You must be a Nova Bank Premier customer to qualify for Planning and Advice. We’ll be able to confirm your eligibility for this service during your Introductory call.