We understand the importance cash can play in a client's
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.
Fixed Term Cash Deposits
Novia sources fixed term cash deposits from a wide variety of
high quality, well respected providers to offer a secure and
rewarding short and medium term home for client's cash. These
deposits provide the certainty of fixed term interest rates and are
available on a predetermined maturity basis. This means you will
not be able to remove your money before the end of the product. 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:
Minimum investment of
£5,000
| Provider |
Products Available |
Further Details |
More Information |
| Scottish Widows |
Fixed Deposits - 1, 5 years |
Interest rates as determined by provider - see website
Paid either gross or net of tax according to product wrapper. Min
deposit £50,000 |
 |
| Birmingham Midshires |
Fixed Deposits - 1, 3, 5 years |
Interest rates as determined by provider - see website
Paid either gross or net of tax according to product wrapper. |
|
| Cater Allen |
Fixed Deposits - 3, 6, 12 months |
Interest rates as determined by provider - see website
Interest paid gross. Min deposit £50,000 |
|
| Bank of Ireland Offshore |
Fixed Deposits - 3, 6, 12 months |
Interest rates - please speak to Client Services
Interest paid gross. Min deposit £50,000 |
|
| Bank of Ireland Onshore |
Fixed Deposits - 3, 6, 12 months |
Interest rates - please see website
Interest paid gross. Min deposit £50,000 |
|
| Close Treasury Deposits |
Fixed Deposits - 3, 6, 12 months |
Interest rates as determined by provider - see website
Interest paid gross. Min deposit £10,000 |
|
| AIB International Savings Ltd |
Fixed Deposits - 3, 6, 12 months |
Interest rates as determined by provider - please speak to
Client Services
Interest paid gross. Min deposit £5,000 |
|
| Investec Bank |
Fixed Deposits - 12 and 18 months |
Interest rates as determined by provider - please speak to
Client Services Interest paid gross. Min deposit £50,000 |
|
| Lloyds |
Fixed Deposits - 3, 6 and 12 months |
Interest rates as determined by provider - please speak to
Client Services. Interest paid gross. Min deposit £10,000 |
|
Advisers seeking more information on cash deposits available
through Novia should speak to their Regional Sales Manager - details are available
here.
Instant Access accounts:
- Instant Access accounts will
be dealt on an individual, non-aggregated basis.
- If you wish to access a product
from one of the providers below, please contact Client Services and
ensure your instruction names the specific provider and product. If
you wish to invest in a particular product issue please ensure you
have requested the product and we have received a fully and
correctly completed instruction and cleared monies in advance of
this.
- Advisers should request a product
to be made available at least 14 days ahead of their desired
account opening date
- A £100,000 minimum deposit per
client will apply.
- Instant Access, as individual
accounts, cannot be held in offshore bond.
- All other normal procedures will
apply
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 0.10% 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.
