Novia first to offer With Profits on platform in partnership with Wesleyan

with-profits-on-platform-in-partnership-with-wesleyan
  • Author : Novia Financial
  • Date : 5 Jul 2021

Novia is today pleased to announce the Wesleyan With Profits Fund is available from the 1 July via the Novia Platform. The Fund aims to provide growth over the long term whilst enabling greater consistency of returns as a result of ‘smoothing’.  Accessed via Adviser Zone, enabling full online capability and investment-tool integration, this new innovative addition marks the first-time a With Profits investment can be accessed via a UK platform and the first time this popular With Profits fund will be available via Independent Financial Advisers.

Wesleyan Assurance Society is part of the Wesleyan Group offering 180 years of heritage as a mutual. The With Profits Fund is managed by Wesleyan’s award-winning Investments Team and invests in a range of asset classes to diversify risk. Designed as a long-term investment solution the financial strength of the With Profits Fund and Wesleyan Assurance Society enables the fund to hold a significant amount of equity and property investments to improve long-term return. The mutual status of Wesleyan also means that, in addition to the returns generated by the Investments Team, investors’ returns can also be boosted through a share of the Society’s profits.

Richard Harrison, Wesleyan’s Chief Distribution Officer said: “We are delighted to be working with Novia to make our highly desirable With Profits Fund available through IFAs for the first time in our 180-year history.

“It’s great news for advisers and their clients that more investors will now have access to a strong, actively managed Fund with a proven track record of delivering healthy returns over the longer term. Over the past ten years the Fund has seen a cumulative return of 98% which is extremely competitive.

These great returns are smoothed, which enables the Fund to deliver more consistent returns for investors. This is why so many of our own customers choose to invest their money in Wesleyan With Profits.”

Keith Furniss, Novia Sales Director said: “Access to the popular With Profits concept has traditionally been off platform for Advisers.  There is a massive demand for a mixed asset fund with smoothing facility and we are certain this will prove a popular addition to our network of advisers. The combination of the higher than usual equity content, no exit fees, and the transparent nature of the fund due to it being on platform, enables us to offer all that investors liked about things that have traditionally been associated to With Profits (smoothing investment returns and long term performance) without the negative features. We are pleased to be able to offer this tried and tested investment solution via the Novia platform”

Patrick Mill, Novia CEO added: “We are absolutely thrilled to be adding this innovative investment solution to the Novia platform, providing further choice to our already wide-ranging asset selection.  With recent events driving exceptionally unusual market challenges, we are proud to be able to respond to our users in offering, for the first time, a With Profits solution via platform.”

Further information on the Wesleyan With Profits fund including how to apply can be found via the Novia website.

 

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.

About Wesleyan:

  • Wesleyan is a mutual founded in Birmingham in 1841.
  • The Wesleyan Group has £7.9 billion of assets under management as at 31 December 2020.
  • Wesleyan Head Office: PO Box 3420, Colmore Circus Birmingham B4 6AR. Website: wesleyan.co.uk

Wesleyan Press Office:
Telephone: 07384 795 544
Email: press@wesleyan.co.uk

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