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Stonewater Wealth Management selects Novia wrap

IFA firm Stonewater Wealth Management has chosen Novia as its new wrap provider.

Stonewater currently has over 500 active clients and six RIs.

Stonewater director Geoff Catterall says: “As part of our ongoing business model we have been using pre-defined portfolios for the last three years. We wanted to have an influence over the portfolios and remain in control of client’s assets. By using the Novia wrap we are able to do just that.”


Loss of James Hay contract contributed to GBST loss

GBST Wealth Management, formerly Infocomp, has said the cancellation of the James Hay contract in December 2008 contributed to its 44 per cent drop in earnings before interest, taxes, depreciation, and amortisation during the 2009 financial year.

Lloyds offshore faces tax inquiry

Lloyds Banking Group is facing an investigation by HM Revenue & Customs following allegations that wealthy clients are being encouraged to avoid UK taxes by channelling money through China, according to a BBC Panorama investigation.


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