Intermediaries and trust companies that build and manage portfolios on behalf of clients have another tool at their disposal.
The Novia Global Investment Governance Service will help address the dual concerns of suitability and business efficiencies by providing access to a suite of appropriately risk graded professionally managed funds and investment portfolios all available via the Novia Global platform, the firm said.
The service utilises data from ARC Research to provide independent statistical analysis involving an assessment of investment preferences and sentiments helping to ensure that the selected investments are appropriate for the investment mandate provided.
The service also supports suitability by providing a clear and electronic audit trail, assisting with helping to justify the selection, retention or removal of a fund or portfolio from any client’s account.
Audit trail
In addition, it offers operational efficiencies providing an “end to end” process driven solution, reducing any risks associated with investment monitoring, the platform stated.
The service provides:
- The ability to run multiple strategies, differing house styles, in multiple currencies if required, under one account with a single custodian.
- A clear and repeatable audit trail; aiding intermediaries with the investment selection process while assisting with the navigation of an ever-changing regulatory landscape and investment environment.
- A cost effective solution, especially for portfolios that do not warrant a bespoke mandate as no minimums are required.
- An online paperless application process and electronic online daily dealing
Provide a solution
Steve Andrews, managing director at Novia Global, said: “We have been working in partnership with our intermediaries and trust companies to help to provide a solution that assists with suitability and fiduciary duties.
“This new efficient tech enabled platform solution will support both advisers and trust companies when they are looking to build and maintain portfolios on behalf of their clients.
“The service will help address both the suitability requirements required as well as driving operational business efficiencies. We are thrilled to be able to bring this to market”
Graham Harrison, ARC Group managing director, added: “As well as the suite of modules covering investor risk profiling, investment manager selection and due diligence, specific performance reports on the available solutions and risk mapping will prove to be an invaluable tool for assisting with users’ suitability and due diligence processes.”
