Novia reports strong asset growth under new owners

Novia Financial reports strong growth in managed assets (AUA), up 6% by the end of December 2021.

Revenues also increased to £ 27.8m, up 14% from £ 24.3m in the previous year.

Adjusted EBITDA is the primary profitability indicator used by management to measure business performance, up 31% to £ 6.7m.

The company’s total AUA increased by £ 8,951m at the end of the year and £ 522m annually.

Novia was acquired by private equity firm AnaCap Financial Partners Last april..

The advisor-centric platform business is thriving under new owners and is focused on providing market-leading services and technology enhancements.

AnaCap also owns Wealthtime. As of March 31, 2022, the integrated platform has over £ 11.8 billion in pension and investment management assets (AUA) and over 77,000 clients.

AUA will be split at £ 9.3bn and £ 2.5bn at Novia and Wealthtime, respectively.

AnaCap has also added Amber Financial Investments and Copia Capital to its business portfolio.

Acquired in 2020, Amber successfully migrated to GBST, Novia’s platform technology, in the first quarter of this year.

Copia Capital, a discretionary fund management (DFM) for business-to-business transactions, works exclusively with advisors to provide a variety of managed portfolio services (MPS).

These include MPS Custom Services, which provide a customized portfolio of advisors built to meet the needs of advisor retail clients. Its “ready-to-use” MPS portfolio products. The range of MPS Plus with added value.

Since its acquisition by Anacap, the company has gone through a program of transformation.

The leadership team was reinforced by Patrick Mill, who was appointed Chief Executive Officer of the Group. Later this year, we invested heavily in technology through the development of microservices that bring both the efficiency of the advisor business and exciting new proposal capabilities.

Under Mill, businesses have laid the groundwork for a third era of platforms that differentiates true digitalization and deeper connectivity.

The business will be a pioneer in the next generation of platforms that will enable advisor companies to build the technology stacks they see fit with a comprehensive suite of Plug and Play microservices.

Group CEO Patrick Mill said of the results: The number of platforms set up to revolutionize the UK market.

“These next-generation platforms bring superior advisor-centric technology and customization to the market. Continued investment in technology, operations and support capabilities will be one of the leaders in its third wave. I’m looking forward to it. “

Mill further states: “A new winner will be born. We are confident that we have the right technology model to leverage the dynamics of these changing markets to continue to grow strongly beyond 2022.”

Novia reports strong asset growth under new owners

Source link Novia reports strong asset growth under new owners

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