Novia Financial Results

  • Author : Novia Financial
  • Date : 4 May 2020

Novia Financial today announces a successful year, to December 2019, across all key performance indicators:

  • Assets under administration up 21% from £6,075m to £7,361m. This increase due to strong inflows combined with favourable market movements
  • New submitted business was £1,351m up 6.1% on the £1,273m the previous year
  • Increase in revenues of 10.2% from £20.89m to £23.02m. This uplift was as a result of new assets from new Adviser firms as well as existing firms reflected in the annual recurring management charges on the underlying assets under administration.
  • Profits before tax increased by 20.5% to £6.7m
  • Successful launch of in house web portal “Adviser Zone” which has been accepted well by new and existing firms and has been adopted by all our users.

Bill Vasilieff, Chief Executive Officer at Novia said: “Against a challenging economic and political backdrop our new business inflows have continued to rise in a market which saw a contraction and we are delighted to report fantastic growth for the business.  We saw the number of investors and advisers using our platform rise, and our assets under administration increase by 21%.  We are also pleased to continue to be recognised for our first class service by a receiving a number of prestigious industry awards.”

Vasilieff continued: “Last year saw us successfully launch our new web portal Adviser Zone to further improve our user experience and we continue to receive really positive feedback on this.  The fact that this enhancement was built in house also ensures the business retains greater control over our future development priorities.”

Vasilieff concluded: “Despite unprecedented market challenges this year, with the devastating impact of the Coronavirus pandemic affecting every aspect of life, Novia remained fully operational and has successfully avoided any impact on service levels.  We reacted quickly to remote working and implemented a number of key changes to help support advisers and their clients. Our new business volumes were 50% up on quarter one 2019 although naturally they have slowed due to the pandemic”

In addition to the launch of Adviser Zone the business has continued to invest in developments and projects across other affiliations including Novia Global and Copia Capital Management. Copia operates a range of investment models, designed to suit a variety of investment strategies and customer needs for different stages in their life cycle, enhancing the overall service proposition offered. Novia Global Limited, which launched in 2015 was set up to exploit the offshore wealth management sector within international markets.  The business appointed a new Managing Director, Steve Andrews, mid last year and remains extremely well placed to capitalise on the trend of international jurisdictions changing to a more transparent pricing model for advisers and clients.


For further information please contact:
Pippa Russell
Head of Corporate Communications
Novia 07740 933 120

Notes to editors:

Novia Financial plc launched to market in October 2008 to provide a comprehensive wealth management service or ‘full wrap platform’ for investment Advisers and their clients and now has approximately £7bn worth of assets under administration. Novia provides a transparent pricing structure as well as access to a wide range of product wrappers, an all-encompassing suite of portfolio management tools, and access to an extensive range of investments including direct equities, traditional authorised funds both onshore and offshore, exchange traded products such as ETFs and ETCs, Structured Products and an integral Cash Facility.

The core operating system is provided by Australian-based GBST that has been developing software solutions for fund administration and financial services since 1996, and for wrap solutions since 1999. GBST include more than 60 of the world’s leading banks, stockbrokers and fund managers on its systems. The comprehensive suite of portfolio management tools is powered by Financial Express that also provides the data for the platform.

The Novia team, based in Bath, is led by Bill Vasilieff – joint cofounder of Selestia. Novia, as an independent proposition, has substantial financial backing from a combination of private individuals and corporate organisations. The board is chaired by Sir Anthony Cleaver (former Chairman and Chief Executive of IBM in the UK). Other members include John Beaumont, non-executive, who has held a number of non-executive roles in major public organisations and several technology start-ups, David Royds (non-executive and investor), Bill Vasilieff, Novia’s CEO, and Paul Parry, Novia’s CFO. Novia Financial plc is authorised and regulated by the Financial Conduct Authority (Reg. No. 481600).

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