Novia turns to Investec for new CTO

She will join the platform next month.

Ms Scrivenger brings over 18 years of experience in financial services including senior roles at M&G, Friends Life Investments, Pictet Asset Management and Axa UK.

She will be responsible for delivery, IT and change functions and will report to CEO Patrick Mill.

Mr Mill said: “I can think of no one better to lead our ambitious programme of technology enhancements and to inspire the team. Attracting talent of Eden’s calibre is testimony to the vision we have for Novia and our commitment to positioning the business so that we can lead on service and true digitisation, enabling adviser firms to construct their technology stack as they see fit, not as platforms dictate.

“The team we’re building around Eden, and across the business, to turbo-charge our programme of enhancements makes me truly excited for what we can achieve in our sector.”

Ms Scrivenger is one of several recent senior hires for the platform.

Other recent senior hires include Christina Dolding as director of adviser and customer experience, and new COO Lynzi Harrison.

Ms Scrivenger said: “Patrick and his team have made great progress in evolving Novia to meet the challenges of the future and I cannot wait to crack on with taking its technology capabilities, especially around digitalisation and connectivity, to the next level.”

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Novia Financial was acquired by private equity firm AnaCap in April last year.

AnaCap also acquired the Wealthtime and Amber Financial Investments businesses.

AnaCap plans to combine the Novia and Wealthtime platforms under the Wealthtime brand in the second half of this year. 

The combined platform business will continue to be led by Wealthtime and Novia CEO Patrick Mill.

Amber Financial Investments, acquired by the private equity firm in 2020, was migrated onto Novia’s platform technology in the first quarter of this year.

Combined the platforms have over £11.8bn of pension and investment assets under administration on behalf of over 77,000 clients.

The adviser platform saw a 6% rise in assets under administration for the year ended 31 December 2021.

Total assets under administration were £8.95bn at year-end, an increase of £533m. Revenues rose 14% to £27.8m (2020: £24.3m). Adjusted EBITDA (a measure of profitability) rose 31% to £6.7m. 

Novia has seen several high-level staff departures since its takeover by AnaCap including CEO Bill Vasilieff shortly after the deal was completed.

Novia was setup in 2008 and before its acquisition by AnaCap was one of the larger independent adviser platforms.

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