International Investment Platforms

Novia Global

An independent review of Novia Global by our team of experts

Summary

Novia Global launched in October 2015 to bring online platform technology to international markets. It provides a platform service for advisers, private banks, trust companies and their clients, giving access to a wide selection of assets, portfolio-management tools and a choice of investment-management services, with its core operating system delivered by GBST.

Registered in England and Wales and based in Bath, Novia Global is authorised and regulated by the Financial Conduct Authority and is widely used in Dubai, Hong Kong and the EU. It offers three products: a Global Investment Account (GIA), a UK SIPP and a Stocks and Shares ISA, with access to over 7,000 funds from more than 300 fund managers.

Client assets are held in custody with Pershing (Channel Islands) Limited, part of BNY Mellon.

Pros

Excellent technology
Open architecture
Multi-currency
No fixed term (no surrender penalties)
Withdrawal flexibility
Independent custody (Pershing / BNY Mellon)

Cons

Adviser-only (no DIY investing)
No individual shares (7,000+ funds available)
Annual charge expensive for smaller accounts
Adviser charges can still be high (up to 5% initial / 1.5% ongoing)

Our verdict

Novia Global is one of the stronger adviser-led international platforms. The technology is excellent, the architecture is fully open, there is no fixed term and therefore no surrender penalties, and assets are held in custody with Pershing, part of BNY Mellon. For a transparent, well-structured platform it earns its reputation.

Two cautions matter. For smaller portfolios the annual service charge can look expensive; the economics improve as the portfolio grows. And although Novia itself pays no commission to advisers, its charging structure still permits an adviser to levy up to 5 per cent initially and 1.5 per cent a year, so the platform can be clean while the advice wrapped around it is not. The platform is only as good as the adviser using it.

That is the crux. A good platform is necessary but not sufficient; what determines your outcome is the quality, transparency and independence of the advice and investment management sitting on top of it. Advice that answers only to you, at a fair and explicit cost, is what turns a capable platform into a good result.

If you hold a Novia Global account and your portfolio is around GBP 1,000,000 or more, a no-obligation Second Opinion will show whether your current arrangement still serves your plan, and exactly what you are paying for it.

FAQs

What products are available from Novia Global?
- Novia Global provides three products: a Global Investment Account (GIA), a UK SIPP and a Global Stocks and Shares ISA, each with a range of portfolio-management options.
Is Novia Global regulated in the UK?
- Yes. Novia Global Limited is authorised and regulated by the Financial Conduct Authority (FCA) in the United Kingdom.
Who looks after my money with Novia Global?
- Custody of assets is held with Pershing (Channel Islands) Limited, part of The Bank of New York Mellon Corporation (BNY Mellon), and client money is administered under the FCA’s CASS rules.
What are Novia Global’s account minimums?
- There is no minimum initial or additional investment amount.