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Novia launches DFM service

Platform provider Novia is launching a discretionary fund management business.

Copia Capital Management will be available exclusively through Novia platform and will sit alongside the other 42 DFMs available on the platform.

The service will offer advisers a range of risk-rated portfolios using passive instruments including Oeics and Etfs and will be available by the end of the year.

Novia has appointed Dr Evrin Erdem as Copia head of investment. Erdem previously worked at Fidelity and execution-only DFM service Nutmeg.

The charges for the service are yet to be confirmed but will be in the region of 25bps.

Novia chief executive Bill Vasilieff says: “We have seen a huge growth in new business inflows into Discretionary Fund Managers and Novia has already developed a strong reputation for its market leading DFM offering.”

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