New wealth management service Novia has announced that the offshore bond component of its wrap platform will be provided exclusively through Scottish Provident International Life Assurance Limited.

The announcement comes just weeks before Novia is officially launched in the UK.

The offshore bond component will sit alongside core product wrappers already in place on the platform - including Isa, Pep, Sipp and general investment account - and will be offered through Novia’s wrap platform to the adviser market.

Novia is the brainchild of ex-Selestia founder and marketing director Bill Vasilieff and was set up in a bid to provide intermediaries with a wide range of product wrappers, management tools and access to a range of investment classes including shares, bonds, traditional funds and alternative investments.

Martin Broomfield, head of marketing for Novia, said Scottish Provident International was chosen because of its strong reputation and impressive quality of administration.

He said: "In addition, its online capability and commitment to customer service make it an ideal partner for Nova.

"Offshore investment can form an essential part of every day investment and tax planning and we are pleased to make this product option right from launch."

Mr Broomfield added that the bond would be available through Novia’s fully online service and can be used with access to "a broad range of investment assets".

David White, sales director for Scottish Provident International, said: “Wraps are an important developing market within the UK and we are looking forward to working together to provide advisers with an effective platform to facilitate and manage their business.”

FTAdviser.com - June 26, 2008