Scottish Provident International Life Assurance (SPILA) is to provide the offshore bond component for new wrap platform Novia.
The offshore bond will be open architecture and offer a transparent charging structure with flexible commission options for UK based advisers. Further technical details of the product will be revealed by Novia closer to launch.
It will sit alongside the core product wrappers already in place on the platform, which include an ISA, PEP, SIPP and General Investment Account.
SPILA has been based in the Isle of Man since 1991 and has a wealth of experience in the offshore bond market, as well as ongoing involvement in the UK wrap market.
Martin Broomfield, head of marketing at Novia, says: “We have chosen Scottish Provident International because of its strong reputation in the offshore market, and the impressive quality of its administration. In addition its online capability and commitment to customer service make it an ideal partner for Novia.
“Offshore investment can form an essential part of everyday investment and tax planning and we are pleased to make available this product option right from launch.”
The bond will be available through Novia’s fully online service and can be used with access to a broad range of investment assets.
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