Novia Global

Get in touch +44 208 123 8072

Novia GlobalNovia Global
Novia Global Ltd launched its Wealth Management Service in October 2015 with the goal of bringing the benefits of technology-enabled investing to the international financial market. We offer straight through processing, portfolio management tools, a suite of management information and comprehensive fund research.

Novia Global Ltd is a limited company that is registered in England and Wales (Reg No. 9042249). Its registered office is Cambridge House, Henry Street, Bath, BA1 1JS. Novia Global is independently owned by private individuals along with small and medium-sized enterprises with significant financial services experience who are committed to the longevity and continued profitability of the business. The principal financial backers are Bill Vasilieff, David Royds (ex-Chairman and co-founder of Matrix Securities), Andrew Staley and Sprinter Ltd, a Registered Private Company based in Jersey.

Regulated under MiFiD for all EU states and available for clients in Switzerland, UAE and Hong Kong.

Novia (UK) has over £4 billion assets under advice.

Claim a Day One EME Bonus Find out more





Novia Global Summary

Novia Global – Review

For anyone wishing to invest in multiple currencies who wishes to consider moving from country to country and have one custodian then this should be one of the options you look at. The custodian is regulated and based in the EU, has full protection, but also offers a full range of funds, and will offer direct equities from 2017 and trackers to invest in. It has full access from day 1, no penalties, no hidden commissions and full transparency. You have to pay a fee to access it. It is good for those who wish to hold for the longer term.


For


  • Full flexibility with full withdrawal or full access in the early years without penalty
  • No commission, and no hidden charges
  • Full transparency of costs leads to lower charges than bond based options
  • No term required, therefore no surrender penalties
  • Multi-currency options and low cost currency trades
  • Low cost switching – good for active management
  • High level IT investment, good customer service

Against


  • Outside of a pension, many countries do not recognise any tax concessions
  • This is a fee driven product which must be paid at outset
  • There are more competitively priced platforms if not actively switching
  • Smaller investments not as competitively priced as other platforms
  • Still a new player and not well-known outside the UK where it is strong



Policy Currency: The Service reports and facilitates investment in US Dollar (USD), Sterling (GBP), Euro (EUR), Swiss Franc (CHF), Hong Kong Dollar (HKD) and Australian Dollar (AUD). In each currency holding there is a cash facility. This provides liquidity and holds funds for investing and withdrawals.

Money from sales and dividends generated from within the specific currency holding will be paid into its cash facility and the relevant fees and charges will be paid from it.

A minimum of 2% of the value of the currency holding will be maintained in the cash facility to meet these obligations. All cash and investments are managed by Novia Global in accordance with the rules of the Financial Conduct Authority.

Expat Money Expert Verdict on Funds

Charges
3 Charging Structures available – Retail, Retail and Clean, Clean

Establishment Charge – up to 1% (but often less or zero with quality companies)

Annual Service Charge
0.60% up to USD 500k
0.10% over USD 2.0m
Sliding scale
Custody 0.04% excluding cash
FX 0.07% per trade
Dealing USD 7.50 per trade in GB, Luxembourg and Ireland

Funds
78 Fund managers available, with 50 more planned
Circa 1,700 fund and 3,800 asset classes

Documents

Novia Global Key Features
Novia Global Due Diligence Pack
Novia Global Retirement Pack
Expat Money Expert Verdict on Novia Global 

Pensions
Suitable platform for investments and pensions differing jurisdictions.
Surrender of Novia Global Plan There are no surrender charges as there is no commission charged.

Expat Money Expert Verdict on Accessibility – commission taken:



Expat Money Expert Assessment of the Novia Global

The Novia Global Plan is completely different to the many offshore plans available and similar to the Interactive Brokers trading account. It offers full transparency with regards to charges and funds / equities / ETF from territories such as the UK, the USA and parts of Europe and in multiple currencies although one currency must be selected at outset for all charges, although exchange rates on monies held are competitive. Novia Global is a pure platform plan.

For anyone wishing to invest in multiple currencies who wish to consider moving from country to country and have one custodian then this should be one of the options you look at. Novia Global own their own platform and their custodian is regulated and based in the EU, has full protection, but also offers a full range of funds, direct equities from 2017 and trackers to invest in. It has full access from day 1, no penalties, no hidden commissions and full transparency. You have to pay a fee to access it. It is good for those who wish to hold for the longer term.

Funds can be selected with “clean” charges (the best) when directly compared to offshore bond offerings from fund houses via the UK or the USA. There are no charges on early access. You will get back the current value of your savings but, whilst there are no guarantees that the portfolio will give you the returns you are expecting, there are limited access penalties when funds in excess of published figures are taken; this loses it half a star.

NOTE: The Novia Global Investment Plan normally provides no commission to its distributors (in the industry this is called indemnified or up-front commission) and therefore a fee has to be paid, but some advisers charge high 4-5% fees whereas others will charge 2%. Also, additional charges may be applied to funds by some advisers, so choose your adviser carefully and do due diligence on the charges offered.

WARNING: Costs and information are correct as of November 2016. Please refer to a brochure from the company for current up to date information and any changes on costs or information. You should not buy based purely on information contained within this article and EME do not accept liability for purchases. If you have any doubts then please speak with your financial adviser or a representative of the company for further advice.

If the provider improves or amends its terms then EME would like to hear from them to amend the review page accordingly, and providers are encouraged to comment on errors or omissions to ensure that readers have the latest and correct information.




Leave a Reply

Your email address will not be published. Required fields are marked *



  • Charges criteria

    Charges are assessed inclusive of fund fees, capital units, bid/offer spread criteria and third party management fees which are often ignored but are, in effect, compulsory additional costs that essentially must be considered by clients.


    Star ratings

    The star ratings apply at inception of the products and in at least the first 2 -8 years. Some products reduce charges or become more accessible with time held, but the length varies for each product; from our reviews it is typically overall between 5-10 years.

    These ratings are awarded based on information obtained from the companies at a certain date. It is worth considering obtaining the latest updated information yourself before making a decision.


    Star ratings

    ChargesOverall charges greater than 5% per annum.
    FundsLimited selected range of collectives or mirror funds with upfront additional charges (Bid/Offer spread) or initial “capital” units.
    AccessibilityTo avoid access penalties, only accessible after establishment period of 8 years or longer.
    Overall AssessmentA commission-based adviser’s product. Not recommended under any circumstances.

    ChargesOverall charges greater than 4% per annum.
    FundsIn-house range of collectives or mirror funds with upfront additional charges (Bid/Offer spread).
    AccessibilityPenalties resulting in loss of fund value may exist for 5 years – 8 years.
    Overall AssessmentA predominantly commission-based adviser’s product with limited use or appeal.

    ChargesOverall charges between 2.5% and 4% per annum.
    FundsIn-house or limited range of collectives or mirror funds with no Bid/Offer spread.
    AccessibilityTo avoid access penalties, only typically accessible after establishment period of 12-24 months or longer, but with no penalties thereafter.
    Overall AssessmentFor those seeking lock-in target dates (perhaps with guarantees) over 5 years.

    ChargesOverall charges less than 2.5% per annum.
    FundsFull range of collectives with no Bid/Offer spread and rebates on charges reducing annual costs.
    AccessibilityImmediate within 60 days without any penalties on any item.
    Overall AssessmentRecommended for some situations and some people due to lower charges and flexibility.

    ChargesOverall charges less than 1.5% per annum.
    FundsIncludes ETPs (passive) and Individualised accessible collectives with no Bid/Offer spread and clean share classes for lowest annual costs.
    AccessibilityImmediate within 30 days without any penalties on any item.
    Overall AssessmentRecommended for most situations and most people, with full transparency and low charges.