Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. 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
Play Liontrust ESG head says sustainable investment doesn't mean low return

Liontrust ESG head says sustainable investment doesn't mean low return

Peter Michaelis talks about ethical investment growth and where he sees future opportunites.

Play Are platforms the biggest barrier to wealth manager ETF take-up?

Are platforms the biggest barrier to wealth manager ETF take-up?

Citywire hosted a roundtable discussion to find out how and if wealth managers are using ETFs in their clients' portfolios and the challenges they face trading through different platforms.

Play SVM's Veitch on what's next for banks

SVM's Veitch on what's next for banks

SVM fund manager Neil Veitch is finding value in what he describes as unstable financials and talks through his favourite small caps.

Read More
Your Business: Cover Star Club

Profile: Affinity’s Julia Warrander on the importance of diversity

1 Comment Profile: Affinity’s Julia Warrander on the importance of diversity

'Sometimes there are 10, sometimes 20 people around a table and, more often than not, I’m the only woman,' says the Affinity Wealth co-chief investment officer

Wealth Manager on Twitter