Personal Pension  

Novia Global launches retirement account

Novia Global launches retirement account

Novia Global is expanding its offering with the launch of its new global retirement account.

This has been administered by Dominion Fiduciary Services, and established under trust in Malta.

The qualifying recognised overseas retirement account is designed to enable advisers to combine the full benefits of an online straight through processing service.

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According to Novia it is encompassing a broad asset range with the flexible tax efficient properties that a Qrops can provide.

The Novia Global Retirement Account is a defined contribution arrangement designed to provide flexible retirement benefits to the member and death benefits nominated by the member.

It is open to any qualifying investor via their intermediary.

Additionally, with no minimum or maximum investment amount for the transfer the plan offers the adviser access through the Novia Global wealth management service to portfolio construction, asset allocation and risk assessment tools, as well as the ability to automatically rebalance, switch without incurring Novia Global fees, excluding equities and back test against benchmarks.

It also offers a multi-currency service providing access to more than 45 fund managers and fully automated, 24 hour online trading.

Bill Vasilieff, chief executive at Novia Global, said: “Following a rigorous due diligence process we were really pleased to select Dominion to be the trustees and to administer our Global Retirement Account.

“Dominion have been operating in this market for seven years, administering over £1bn of pension assets and have a strong reputation in the global retirement market.”

Paul Davies, director at Global Qrops, said: “It is positive that Novia have teamed up with a reputable trust company (in Dominion) to produce a new Qrops option with a flexible approach.

“As with all Qrops, though, it is important that this Qrops is recommended, by an adviser, for an appropriate client – taking into consideration all factors including the client’s resident status (in retirement) and their retirement goals.”

ruth.gillbe@ft.com