Novelist continues as Amdax: here's what this means for you

We're sorry to share that we're discontinuing Novelist. On this page, you'll find out why, what this means for you, and the steps you can take next.

Why are we discontinuing Novelist? 

Novelist is continuing under Amdax. In practice, we've found that we can serve our clients better by bringing all our services together in one place. For you, this means lower fees and a single, streamlined environment with direct access to Amdax's full range of services. 

What are your options? 

Option 1: Continue as an Amdax client 

You move over to Amdax and continue within the Balancer 15 strategy. This works a little differently than what you're used to. Where Novelist was active wealth management, Amdax uses a passive long-term strategy. This requires less day-to-day management, which is why the fees are lower: 1.2% per year and 0.2% per transaction. There's no charge for switching over. 

Here's how to make the switch: 

1. Sign up via the Amdax app or my.amdax.com/register and complete the onboarding.
   
2. Once your onboarding is complete, Amdax will take over your Asset Management Agreement, including your suitability assessment. Your full portfolio value will then be transferred automatically. There's nothing you need to do for this step.

Do you already have an Amdax account? Just reply to this email to let us know you'd like to switch.

You can read more about the Balancer 15 strategy here.

Option 2: Withdraw your funds 

Prefer not to switch? You can request a payout yourself via the app by submitting a withdrawal request. We'll then sell your positions and transfer the balance back to your linked bank account.

Fee comparison 

Make your choice before 5 June 2026 

Haven't taken action yet? Open an account with Amdax, or withdraw your funds via the app by submitting a withdrawal request. We'll then sell your positions and transfer the balance back to your linked bank account. If you don't take action before June 5, 2026, we'll handle this process for you.

Frequently asked questions 

Will anything change in my portfolio if I switch?

Your full portfolio value will then be transferred automatically. There's nothing you need to do for this step.

How will my positions be transferred?

Once your onboarding is complete, Amdax will take over your Asset Management Agreement, including your suitability assessment. Your full portfolio value will then be transferred automatically. There's nothing you need to do for this step.

I already have an Amdax account. What should I do? 

Get in touch with us. We'll make sure your positions are transferred from Novelist into your existing Amdax account. 

What happens if I don't respond?

If we don't hear from you before 5 June 2026, we'll sell your positions and transfer the balance back to your linked bank account. 

What's the difference between Novelist and Amdax? 

Novelist offered active wealth management. At Amdax, we work with a passive long-term strategy. A passive approach requires less management, which is why the fees are lower: 1.2% per year within the Balancer 15 strategy. 

Ready to make the switch? 

Create your Amdax account and get the move underway. If you have any questions, you can reach us by chat or email.