Through the Novia Platform we provide a comprehensive suite of tools for Advisers. We develop the tools based on Advisers’ requirements so that they can simply and easily manage clients’ investment decisions. We seek to add value by cutting out unnecessary paperwork and the time wasted by repeatedly having to re-enter data.
The tools can be used to create standalone reports, to help build portfolios and to support full investment reviews. Our bespoke CGT Calculator and Model Portfolio Manager are particularly well regarded.
We provide the tools in conjunction with our expert partners, such as Financial Express, and there is no charge to users of the Novia Platform.
You can learn about specific tools by clicking the arrows in the list below.
In addition to the Novia tool suite, we offer comprehensive management information capabilities. Please find out more on theReport Zone page.
Our Risk Profiler can be used as part of your fact find process.
The Risk Assessment Questionnaire was constructed by our investment and actuarial consultancy and asks a series of questions to identify a client’s attitude to investment risk. The resulting risk score will range from 1 to 10, with 10 reflecting the highest appetite for investment risk.
We help Advisers to identify the assets that meet a client's needs.
Fund Research offers a range of filters; these can be used to reduce the funds displayed to those that are most relevant.
Via Fund Research, Advisers can access the Portfolio Scan, Comparison Report, and Chart Selected Funds buttons and download documents such as KIIDs and Fund Factsheets in bulk into one PDF.
You are also able to export the selected data to Excel and to FE Analytics (if you have a separate license). In addition, all pre-built model portfolios are available for selection as part of new business, new wrapper and top-up online processes.
Performance and Risk Charting
Via Fund Research you can chart selected funds. This allows Advisers to monitor the performance of individual funds over a choice of time periods and compare it to other funds and benchmarks, such as sector averages and indices.
It is possible to chart funds for performance and risk based on information provided by Financial Express. The assets that can be monitored include unit trusts/OEICs, life and pension funds, investment trusts and ETFs.
Editable Client Reports and Illustrations
To help Advisers produce documentation, as part of new business or top-up processes, we have created a proforma client report in Word format.
Advisers must tailor any client report accordingly and may wish to add further content to the example wording provided. Information on Product Wrappers can be used in Adviser communications and letters to clients. Illustrations at sector level can be generated.
Model Portfolio Evaluator
Model Portfolio Evaluator enables an Adviser to:
evaluate a client’s portfolio against Model Portfolios they have previously constructed. This means Advisers can easily and efficiently manage clients’ portfolios in accordance with their asset allocation and selection advice
check the efficiency of the constructed portfolios against the market
demonstrate a portfolio’s risk against annualised return
demonstrate risk against return over a range of timeframes
print and pdf any material created for use in presentations and submissions to clients
Portfolio Performance Review
This tool looks at the performance of a client’s portfolio taking into account their actual cash flow and works out the rate of return earned on the client’s money.
It is designed to answer the question ‘How has my money done?’ and can measure the success of switching strategies. The results can be particularly surprising when the review period is short, e.g. just a few months.
The calculation gives a true rate of return on the client’s money, taking into account investments and disinvestments. It considers the ‘Money Weighted’ rate of return which can be shown against a rate of return benchmark of the Adviser’s choice. All charges are taken into account when calculating the client’s rate of return, including the fund charges, Novia’s charges and the Adviser’s charges. For the benchmark portfolio only charges incurred at the time of investment of new money are included and the tool will not reflect the recurrent Adviser and Novia charges.
We give Advisers the ability to "drill down" in portfolios to analyse their asset allocation, geographical/sector split, return compared to benchmarks and risk rating.
For this breakdown of a client’s investments, our portfolio scanner can be accessed via Analyse Assets for existing wrappers and via Fund Research for pre-sales. The reports generated are considered useful for client updates and annual review packs.
Model Portfolio Manager
Our Model Portfolio Manager (MPM) tool enables Advisers and Discretionary Fund Managers (DFMs) to take full administrative control over their Model Portfolios, creating and managing them online.
The tool enables Advisers to construct and amend Model Portfolios for their clients.
MPM is also linked to existing analysis tools so that Advisers and DFMs can research assets at the point of construction, perform portfolio scans on models and carry out Portfolio Performance Reviews on specific clients. There is an instant submit, with no “overnight refresh” so Advisers can build portfolios then use them straight away for their clients.
Advisers can establish their own Model Portfolios or work with a DFM
an unlimited number of portfolios can be established for different risk profiles across all Novia product wrappers
we are able to work with any FCA-authorised DFM and have existing relationships with around 100
MPM provides the choice of updating some or all clients within a model by one simple instruction
MPM has the functionality to synchronise all clients’ trades within a Model Portfolio. The single dealing point provides equality across clients
Our Lifestyle Planner helps Advisers show their clients how their current investments may, or more importantly, may not meet their future lifestyle aspirations.
The tool creates graphs that show how a client’s financial objectives are being met by their current holdings. It demonstrates the amount of returns and/or contributions that are required to reach the goals set. It facilitates "what if" analysis and demonstrates the impact of different returns, contributions and/or retirement dates.
There are two versions of this tool. One is fully integrated with the Novia platform and is pre-populated from the existing client information to reduce the need for re-keying information. The other can be accessed from the Investor Summary of a prospective client to theNovia platform.
It is incredibly useful, especially as part of periodic investment review meetings with clients, as it clearly demonstrates how small changes in risk profile or in regular investments can have a large impact on long term outcomes.
Capital Gains Calculator
The CGT Calculator enables Advisers to provide both realised and unrealised gains reporting for their clients.
The calculator takes into account corporate actions and distributions. It allows the Adviser to capture previous acquisition costs in respect of re-registrations and in-specie transfers.
The Novia CGT Reporting Tool takes into account notional distributions on accumulation units, where income is reinvested back into units instead of being paid out to the Investor (as with Income units). Up until 6 April 2017, a withholding tax of 20% was taken from assets which contained at least 60% in fixed interest securities. This means there has always been the risk of double taxation. To avoid double taxation, the notional distribution is treated as allowable expenditure for capital gains tax purposes, and therefore the cost must be adjusted. The tool achieves this by raising the acquisition cost of the asset by the same amount as the notional distribution, removing it from CGT.
Where an Investor purchases units between the ex-dividend date and the dividend payment date, they will not be entitled to any income which has accrued in the fund before the units are purchased. Instead they will receive an equalisation payment, which represents the extra cost that they paid for the units (from accrued income) and is treated as a return of capital for CGT purposes. The capital receipt should therefore be deducted from the costs of the units for capital gains tax purposes when calculating the charge on eventual disposal.
You are also able to load the book cost which is fundamental when you are re-registering assets. Normally CGT tools assume the book cost to be the point of re-registration and capture an inaccurate valuation. This undermines the information generated. Our tool avoids this error and maintains the quality of the report.
The Capital Gains Calculator has the new scenario planner functionality, which was added in 2020. The functionality allows the Adviser to check scenarios before making any sale requests. Advisers can do this through a number of different methodologies such as targeting a specific gain, or specific proceeds. The system will calculate and present the suggested assets to sell in order to achieve the specified outcome.