Novia to add group Sipp to platform

Novia claims it will be the first platform provider to offer a full wrap service for group Sipps when it launches its scheme in May. 

Novia said the group Sipp will appeal to both advisers and employers looking for an online pension scheme with open architecture. Employees in the scheme will be able to put money into collective funds and unauthorised investments like hedge funds and structured products.

‘The addition of the group Sipp scheme to Novia’s full wrap platform offers advisers and employers an excellent, flexible group pension scheme which can be tailored to individuals as their earnings and lives change,’ said Bill Vasilieff (pictured), Novia chief executive. 

Vasilieff said employees could also open an ISA or offshore bond with the agreement of the Sipp scheme adviser. Employers would need to complete one monthly payment schedule before Novia takes over the administration.