Adviser-focused platform Wealthtime (formerly Novia) has cut the amount of possible client compensation it has set aside over legacy assets to £10.5m.

The Novia platform has claimed to be the first in the UK to offer a with profits investment product to advisers and their clients.

Alliance Trust Savings chief executive Patrick Mill is to step down from his role at the platform after five and half years at the helm, the company announced today.

Alliance Trust Savings has added eight new fund providers to its platform and says that assets under management on the platform are rising rapidly. Read more...