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 On the Road Challenge: Clay pigeon shooting with Thesis' Lansdowne

On the Road Challenge: Clay pigeon shooting with Thesis' Lansdowne

Eleanor Mahmoud goes clay shooting at the National Clay Shooting Centre with Sam Lansdowne from Thesis Asset Management

Play AA-rated Flood on gov't bonds: 'the maths doesn't add up'

AA-rated Flood on gov't bonds: 'the maths doesn't add up'

He also addresses why his Newton Multi-Asset Income fund has such a high cash weighting and why he sees renewables as such a good opportunity.

Play AAA-rated Ali: Identifying the peripheral European plays

AAA-rated Ali: Identifying the peripheral European plays

Citywire AAA-rated Tawhid Ali thinks that plenty of good stocks in the European periphery are being thrown out with the proverbial bath water.

Read More
Your Business: Cover Star Club

Profile: Brewin's Cardiff boss on the Welsh opportunity

Profile: Brewin's Cardiff boss on the Welsh opportunity

Prior to becoming head of Brewin Dolphin Cardiff, Welshman David Myrddin-Evans had only previously visited the city to watch the rugby.

Wealth Manager on Twitter