Wealth Manager - the site for professional investment managers

Register for full access to Citywire’s Fund Manager database, news and analysis. Registration is free and only takes a minute.

Barclays to close Woolwich Plan Managers in structured product overhaul

Barclays to close Woolwich Plan Managers in structured product overhaul

Barclays is to close structured product provider Woolwich Plan Managers and offer all structured investments in an unbundled format through third party platforms and stockbrokers, as part of an overhaul of its distribution strategy .

All existing structured investments for advisers will be administered until maturity, but new investments will not be accepted as of 31 December.

Barclays already offers structured products on Nucleus, Transact and 7IM, as well as several stockbrokers and Sipp providers.

The move is part of Barclays plans to move all its structured products business to its investment bank.

A Barclays spokesman said that come 1 January, all structured investments for UK intermediaries will be made exclusively available via third party platforms.

'As a business we are always looking at how we can most effectively serve our intermediary clients. We feel that the best way to do this is via third party platforms, allowing advisers to manage client portfolios centrally and take advantage of improved liquidity,’ he said. ‘We remain committed to the UK intermediary market and will continue to administer through our own platforms all existing investments.'

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Citywire TV
Play Investment Pulse: the highs and lows of 2014

Investment Pulse: the highs and lows of 2014

This week's Investment Pulse looks back at some of the biggest stories of the year as well as looking forward to 2015.

Play Inside ETFs: Why the US bull-run still has legs

Inside ETFs: Why the US bull-run still has legs

Global equities suffered a sharp sell-off in the third quarter but exchange traded fund investors are continuing to back the US to outperform in 2015

Play Paul Niven: I won't rip up the Foreign & Colonial Trust history book

Paul Niven: I won't rip up the Foreign & Colonial Trust history book

The newly appointed manager of the Foreign & Colonial trust talks about his plans for UK's oldest investment company.

Your Business: Cover Star Club

Manchester wealth firm hires Coutts director for London launch

Manchester wealth firm hires Coutts director for London launch

Former Coutts director Tony Robinson has joined Chartered Wealth Management to head the company’s newly opened London office.

Wealth Manager on Twitter