Vasilieff readies his latest venture

Novia Financial has launched its new wrap platform to the IFA market, headed up by former Selestia co-founder Bill Vasilieff.

In the next few weeks, the platform will be in a controlled launch phase with a limited number of IFAs, before being fully online and open to the whole of market in November.

The platform will offer access to multiple product wrappers including a Sipp, a general investment account, an offshore bond, cash, stocks and share Isas.

Each wrapper has an integral cash facility and there is also the ability for off platform holdings to be recorded.

IFAs are also given access to portfolio planning tools through the platform, including risk profiling, asset allocation and model portfolio building, as well as providing advisers with the tools to look at all their clients investments, not just those on the Novia platform.

In addition to this, Novia will offer a range of investment fund choice in addition to stocks and shares and exchange traded funds.

Re-registration both on and off the platform is also available and service will be offered within an unbundled charging structure to aid transparency as well as a treating customers fairly centre.

This will also be provided at no additional cost and aims to help advisers with their audit trail.

Bill Vasilieff, chief executive of Novia, said: "We are pleased to be offering a thorough client service proposition with better technology and more functionality than is currently available to advisers in the market.

"The speed with which we have been able to bring such a comprehensive proposition to market is by anybody's standards quite remarkable, and largely down to the hard work of all the individuals both at Novia and at InfoComp involved in the planning and launch.

"I believe that the world class technology and fantastic service proposition backed by top quality experienced people will provide a compelling proposition and one which should clearly meet advisers changing needs in a volatile and somewhat unpredictable market."

Rob DeDominicis, chief executive of InfoComp UK, said the news would give Novia an edge over competitors.

He said: "With such functionality at the heart of their systems, powering their Sipp and Wrap, there is no doubt Novia has a real edge in the market.

"Working closely with Novia to create this new platform has been a pleasure and we look forward to ongoing developments with Mr Vasilieff and his colleagues."