Cash Management
We understand the importance cash can play in a clients portfolio and offer a range of solutions to ensure that cash can be managed in the most effective manner. The Novia wealth management service includes a number of cash management options.
Cash Deposits
Novia sources cash deposits from a wide variety of high quality, well respected providers to offer a secure and rewarding short term home for clients cash. These deposits provide the certainty of fixed term interest rates and may be available on a predetermined maturity basis. By investing through Novia the high minimum investments often associated with these deposits may be removed.
Cash deposits are available through the GIA, SIPP and Offshore Bond. They are not available in a Cash or Stocks and Shares ISA.
Interest may be paid gross or net of tax depending on the products offered shown below and you may have a personal tax liability related to this.
In general we offer:
- Deposits invested once a month 28th of the month or the nearest following business day
- Cleared monies and an acceptable instruction must be received 7 business days prior to the 28th to ensure funds being deposited at that dealing point - otherwise the instruction will be carried out at the next dealing point
- Fixed term deposits with duration of 3, 6, 12 or 24 months where provided by the institution
- Interest rates and minimum investment levels will apply as at the dealing point as determined by the provider. Novia has no control over the interest rate applied to a chosen product. Interest rates may change at any point interest rates shown are indicative only and offer no guarantee as to the rate offered by the provider at the given dealing point
We are currently offering cash deposits through the service from the following providers:
| Provider | Products Available | Further Details | More Information |
|---|---|---|---|
| Scottish Widows | Fixed Deposits 12 months only | Interest rates as determined by provider see website Paid either gross or net of tax according to product wrapper. |
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| Birmingham Midshires | Fixed Deposits click more information | Interest rates as determined by provider see website Paid either gross or net of tax according to product wrapper. |
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| Cater Allen | Fixed Deposits 3, 6, 12 months | Interest rates as determined by provider see website Interest paid gross |
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| Bank of Ireland Offshore | Fixed Deposits 3, 6, 12 months | Interest rates please speak to Client Services Interest paid gross |
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| Close Treasury Deposits | Fixed Deposits 3, 6, 12 months | Interest rates as determined by provider see website Interest paid gross |
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Advisers seeking more information on cash deposits available through Novia should speak to their Regional Sales Manager - details are available here.
Cash Funds
Cash funds in the form of Unit Trusts or Open Ended Investment Companies (OEICs) enable you to purchase units or shares in a cash based collective investment vehicle. These highly liquid funds allow you to hold money with other investors, potentially offering reduced risk and higher returns than investing your cash individually.
Novia makes available a number of cash funds from market leading investment houses. Full details of all the funds available can be found on the Investment List, available here.
We make available cash funds from investment managers including:
- BlackRock
- Jupiter
- Gartmore
- Aviva
- Fidelity
- Invesco Perpetual
- L & G
- Royal London
- Insight
Cash Facility
- All Novia Product Wrappers include an integral Cash Facility where monies can be held and will attract interest at the rate of 0.25% below Bank of England base rate. For more details on the Cash Facility please click here.
- Through Novia you may also access a number of other cash investments offering a wider range of return and maturity.
More Information
Clients seeking more information about how cash can be managed through the service or whether the options available through Novia may be suitable should speak to their adviser.
