Product Wrappers to suit a wide range of Investors
Novia offers a range of product wrappers designed to allow Investors - with help from their Adviser - to maximise the potential of their investments. Each of our product wrappers has different tax benefits and it is the combination of these wrappers that can help Investors reach their investment goals.
Across all our product wrappers, Adviser charging is fully flexible and supported by an integral cash facility. With charging calculated across all the wrappers held within a client's Novia Account rather than being calculated for each wrapper, we make it easy for the Adviser to create a portfolio of investments using the most appropriate mix of wrappers to suit their client's tax position and investment needs. You can visit our Investments List page to view the range of assets available within our product wrappers.
The Novia Junior Stocks & Shares ISA is the perfect way to bring multiple generations into the financial planning process
The JISA has become an important option since the jump in the annual allowance in 2020/21 where it increased from £4,368 to £9,000. One of the benefits of setting up a Junior Stocks & Shares ISA on the Novia platform is the ability to manage a family's wealth all in one place. The JISA is a tax efficient vehicle and provides a welcome option for those that choose to put money away for a child to benefit from at a later date.
The JISA provides access to a wide range of investment options, and can accept the transfer of Child Trust Funds (CTF). The registered contact can easily monitor the child's account online via their own Investor Zone login.
Our flexible Stocks and Shares ISA offers a competitive range of investment choices including UK Stocks and Shares, structured products and Investment Trusts.
The key advantage of an ISA is the opportunity to invest money without paying income or capital gains tax on any returns - essentially it is a tax-efficient stocks and shares savings account - subject to limits set by the Government. Better yet, as our ISA is flexible, the savings can be accessed and then repaid to the ISA within the same tax year without affecting the ISA allowance.
We also offer a Cash ISA, which can be held in conjunction with your Stocks & Shares ISA, as well as other product wrappers
Self Invested Personal Pension
Planning for later life or retirement can be effectively undertaken through a number of Novia product wrappers - and at the heart of this offering is a form of personal pension - the Novia Self Invested Personal Pension, or SIPP.
The Novia SIPP is a product wrapper that allows individuals to:
build up a pension pot from:
single and regular investments from the individual and employer
transfers from existing pension arrangements elsewhere
access a very broad range of investments to construct an appropriate portfolio
use the accumulated pension pot (after age 55*) to:
take income drawdown payments both before and after age 75
withdraw ad-hoc lump sums from the pension
buy an annuity on the open market
use different investment strategies for different elements of the SIPP - ie the part used for generating the pension fund and the part where income is taken.
More information is available on the Novia SIPP in the Key Features Document or from your Adviser.
For further details please see the Terms of Reference document. Access to Guaranteed Income products which provide a guaranteed underpin for a client’s flexi-access SIPP drawdown portfolio. For further details please see our ‘Guaranteed Income’ page
General Investment Account (GIA)
The Novia General Investment Account (GIA) allows clients to make unlimited contributions into one product wrapper.
The GIA can be held individually, jointly, in trust or as a corporate and includes:
Clear and transparent charging structures with no additional or transaction charges.
A broad range of investment options, ranging from cash deposits and funds through structured products.
The General Investment Account is used with external wrappers such as SIPPs, SSASs and Offshore bonds. Novia works with a number of third parties to enable Advisers to fully utilise this benefit of the Novia Gross GIA. The process is very straightforward with the Adviser and Client opening up the external wrapper and filling in the relevant paperwork to outsource the custody to Novia. The GIA wrapper and the investments within it remain administered by Novia.
Once on platform the Adviser is able to manage Clients' investments (subject to any restrictions agreed with the external wrapper provider).
Novia runs its GIA through a Gross Nominee account, since historically this has enabled Clients to maximise their returns, for example by removing the delays resulting from reclamation of tax when using the GIA with external SIPP products.
The Novia Offshore Bond is provided by RL360 Insurance Company Limited which is based in the Isle of Man. The Novia Offshore Bond is issued by RL360 Insurance Company Limited ("RL360") and is marketed and administered by Novia Financial plc.
Our ambition is to support a happy and financially stable future for our customers.
Based on the Isle of Man, we have regional offices in the Far East, Middle East, Latin America and Africa. We are part of IFGL, which serves over 230,000 customers in 170 different countries. We now administer assets of over $21 billion for our clients and employ 700 staff (as at August 2021).
With the business part-owned by the senior management team, we enjoy committed leadership and a long-term vision to be the best provider of offshore savings, protection and investment for our customers.
We have a B+ rating from actuarial consultancy AKG, which specialises in the provision of financial services industry ratings, as well as 5 stars for service. No other offshore life operation has a higher rating.
We also won Best International Life Group (Non UK) at the 2017 and 2018 (Highly Commended in 2019) International Fund and Product Awards.
Why the Isle of Man?
Customers take great reassurance from our Isle of Man location. The island is a well-established global financial centre with an outstanding reputation for investor protection. As well as being awarded “white list” status, the OECD recently gave the Isle of Man the highest compliance rating for its international exchange of tax information, a level only achieved by 38 jurisdictions globally. The Isle of Man has also received an Aa3 sovereign rating from Moody’s, and won the prestigious International Finance Centre award at the 2020 International Adviser Product and Service Awards for the third time in four years.
Your Adviser will be able to inform you about any investment that is not authorised or recognised by the FCA, but the majority of investments made available through Novia are authorised or recognised.