Novia upgrades Pension Transfer Analysis tool

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  • Author : Novia Financial
  • Date : 1 Oct 2018

Novia upgrades Pension Transfer Analysis tool ahead of new requirements.

Novia Financial is today pleased to announce an upgrade to the popular TVAS service which provides reports on pension transfers from defined benefit schemes. In response to the FCA’s regulatory changes effective 01/10, Novia’s transfer analysis report has been updated to full compliance with the new APTA requirements. Most of the APTA features were already present in our award nominated report, and the mandatory Transfer Value Comparator (TVC) has now been added to complete the picture.

The price has been held at £75 + VAT and the same flexible inputs and fast turnaround applies.

All of the existing features of the award nominated TVAS service will remain in place including:

  • Flexibility on inputs with distinct mandatory and optional fields
  • Fast turnaround
  • A colourful, customer-friendly report
  • Comprehensive cash flow modelling
  • Graphs and charts delivered separately as well as within the report
  • Cost held at £75 + VAT

Paul Boston, Sales Director at Novia said: “We have had enormously positive feedback from our supporting Adviser clients on our innovative TVAS tool and we believe the enhancements made will further extend the value of this service. Advisers who have already received a TVAS report from us ahead of the deadline can send a request and we will reissue the report in the new APTA format, free of charge.

“Transfers within 12 months of the scheme’s Normal Retirement Age will require oversight by a pension transfer specialist and the transfer analysis must compare the scheme benefits to actual annuity rates available. This new service creates a specific analysis report for transfers within 12 months of Normal Retirement Age using the same simple to use self-service approach.”

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 £6bn 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, as well as Cash Deposits, 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. In 2016, it reported a revenue of AU$108.1 million and an EBITDA of AU$17.2million. 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 startups, 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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