Novia Global has unveiled a new DFM service which it says will provide access to a diverse range of investment solutions. The service has agreed strategic relationships with five investment houses: Marlborough, Smith & Williamson, MitonOptimal, Tavistock and also Novia’s in-house DFM, Copia Capital Management, with plans to add five more by the end of this year.
Access to these will be integrated into the multi-currency wealth management service and will be available for use across the relevant wrappers on the platform. A range of model portfolios can be accessed, together with the Modern Portfolio Manager tool, which facilitates the creation and management of portfolios all online, along with the ability for intermediaries to scan portfolios, review performance and realign as necessary.
Novia Global is targeting trust companies and British expats in areas such as Gibraltar and Cyprus, as well the Channel Islands, Isle of Man, Cayman Isles and Hong Kong. The service is provided on a straightforward processing environment, with no re-keying or wet signatures required and completely integrated with all investment tools on the platform. Chris Skelhorn, global head of distribution, said, “We will look to grow and enhance as quickly as we can.”
MM comment
The digital age within financial services is moving at a rapid pace and any organisations offering quick and easy online DFM propositions are likely to generate great interest.
Although currently offering access to only five investment houses, the companies selected are clearly concentrated. If plans to increase to 10 investment houses are achieved then this offering will be nicely extended, without being over-complicated or exhaustive. The key component to this service will be Novia’s ability to tap into overseas intermediaries.
With so many British citizens now living abroad, many of whom are keen investors, there is a desire to monitor portfolios via UK tools. If this opportunity can be exploited, then Novia can anticipate a number of investors finding favour with this platform. Emigrating to another country has never been easier and therefore investor technology that follows suit could prosper.
