Novia launches in-house DFM service

Novia's in-house discretionary fund management service, Copia Capital Management, has gone live today, and the platform has already seen interest from several adviser users.

Copia - which offers the platform's users a range of ten risk-rated portfolios run by recent hire and head of investment Evrin Erdem - can now be accessed through the Novia website. Bill Vasilieff (pictured), CEO of Novia, said 13 firms have already loaded up the portfolios for their clients, with the new service allowing Novia to tap into the growing demand for outsourced solutions. "90% of new money on the platform goes into models, and 40% of that goes into DFMs now, with that figure rising all the time, so it is a growing area for us," he said. "We spotted there were no retail ...