Novia Global, the recently-launched, Bath, England-based offshore platform aimed at international intermediaries, has unveiled what it calls a “new discretionary fund manager service”, after agreeing strategic partnerships with five major DFM houses.
The five DFMs are Marlborough, Smith & Williamson, MitonOptimal, Tavistock Investments and Novia’s in house DFM Copia Capital Management, Novia said in a statement on Tuesday.
Access to all five of the DFMs will be “fully integrated” into Novia’s multi-currency wealth management service, and available for use across any relevant wrappers held on the Novia platform, the Novia statment added.
Novia Global chief executive Bill Vasilieff said the company was anticipating “a strong demand” for this type of “high quality and diverse range of investment solutions in the offshore markets”.
Andrew Staley, chairman of the Marlborough group, said that the new platform addressed a clear appetite among international intermediaries for “quality investment solutions”. Phil Penrose, international sales director at MitonOptimal, called Novia Global’s entry into the international platform space “a new chapter in this developing market segment”.
Novia Financial, the parent company of Novia Global, entered the UK wrap platform market in October 2008, with an operating system provided by Australia’s GBST. The Novia team is headed up by Bill Vasilieff, the former sales and marketing director and joint co-founder of Selestia, another UK platform operator, which was ultimately integrated into Skandia’s platform operation.
Vasilieff has said the company is looking to expand rapidly into the international advisory space, where a growing shift in the direction of greater regulation is driving a move towards more transparent wealth management systems, of a kind that platforms are able to deliver easily and cheaply. Vasilieff also believes that Novia Global’s multi-currency feature will be particularly popular in the international wealth management sector.