Novia expects to break even in second year

Expected to be unveiled by November, Novia requires £750m to £800m in platform assets to make a profit – a total chief executive Bill Vasilieff is confident of reaching on target despite the current economic downturn. "Obviously it is going to be a testing time, but with our low cost base there is no reason to believe we can not reach our realistic targets," Vasilieff says. After receiving authorisation last week, Novia is in final testing ahead of a four week trial to selected IFAs. The platform will launch fully operational, with its entire range of integrated tools. "We have had ve...