A newly-minted firm is shortly about to go live with a suite of products including a range of options for different currencies.

Novia Global, the multi-currency wealth management service that is expected to go live at the end of September, plans to provide access initially to five currencies and more than 1,000 funds as well as a range of investment tools.

The full launch of the service is subject to approval from the Financial Conduct Authority, the UK regulator. The currencies are dollar, sterling, euro, Hong Kong dollar and Swiss franc.This publication is in contact with the firm as to why the Japanese yen is not among the first batch of currencies.

Novia Global will be available to advisors dealing in the international market, private banks, trust companies and their clients and other professional investors. It will initially support residents (individuals and trusts) based in the Channel Islands, Isle of Man and Switzerland, and will be passporting across Europe and into other jurisdictions in the coming weeks, with the intention of quickly extending the geographical presence, according to a statement yesterday from the firm, which is based in Bath in the UK's South West region. 

The service will provide a choice of remuneration options to suit the advisor and trustee’s business models. If the business is established using commission, the option of initial and/or trail will be available, where the client exclusively uses rebate-paying funds.

Or, if the advisor is looking to move to an explicit charging model, the system gives the option of an initial charge of the clients’ investment and/or an ongoing charge. A separate cash account will be available and this will be used to administer the charging and will be shown in the transaction history. 

Novia said there will also be the facility to access a number of online discretionary fund managers, including Copia Capital Management, which will provide ten risk-rated portfolios as well as potentially bespoke services for clients. This service will be distributed through a number of independent distribution companies which already have established international advisor relationships both on and offshore.

In January, Novia said it would give access to offshore funds, exchange traded funds (with aggregated trading), structured products with direct equities and an offshore bond set to be added in the coming months.  

A research hub will also be available from the service’s inception, offering fund analysis, fund charting, portfolio scanning, fund comparisons, export functionality, dividend reporting and document downloading.