View the article online at http://citywire.co.uk/wealth-manager/article/a638244
Cazenove reveals it will be independent post-RDR
by Danielle Levy on Nov 29, 2012 at 09:38
Cazenove has confirmed its private client business will retain its independent status in the post-retail distribution review (RDR) world.
The firm, which offers both investment management and financial planning, said it was able to meet the criteria for independence under the incoming RDR rules, as it offers ‘a whole of market service on the complete range of retail investment products to our private clients if required’.
Cazenove head of wealth management Mary-Anne Daly (pictured) said: ‘Being independent benefits the business in that clients are able to access a complete service under one roof.
‘However, there are many instances when we will work in partnership with clients’ own professional advisers. Indeed, this has been a substantial area of growth for our business over the last few years and one which we are committed to developing further.’
Nonetheless, she acknowledged that the new definitions are not necessarily clear for underlying clients.
‘Badging doesn’t always lead to a greater understanding for the end client. As long as wealth managers continue to offer the most appropriate products and investments to their clients taking into account the clients objectives and risk tolerance, then whether the advice is internal or external it shouldn’t matter.’
News sponsored by:
Ian McVeigh and Steve Davies, managers of Jupiter's UK Growth fund, talk about their predictions for the UK equity space. Click here to watch a series of sponsored interviews with Jupiter's fund managers on the UK equity market.
Today's top headlines
More about this:
More from us
- SRA poised to allow restricted referrals post-RDR
- Martin Wheatley: restricted wealth managers have nothing to fear
- Defining the restricted universe: how can firms differentiate themselves?
- Rathbone Investment Management to be 'restricted' post RDR
- Brewins to be restricted post-RDR, but has independent aspirations
On the road
by Danielle Levy on Apr 23, 2014 at 07:33