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 Kames' Ennett: Trump good for US high yield, but beware Europe

Kames' Ennett: Trump good for US high yield, but beware Europe

Kames Capital’s head of high yield David Ennett believes the changing political landscape will be a positive for the US, but negative for Europe in 2017.

Play Philip Milburn: why inflation won't run out of control

Philip Milburn: why inflation won't run out of control

Kames bond fund manager views inflation as more of 'scare' than a 'problem' and is positioning his portfolios accordingly.

Play Henderson's Lofthouse on merger boost and political risk

Henderson's Lofthouse on merger boost and political risk

Ben Lofthouse talks through where he is finding income and what surprises await the global economy in the new year.

Read More
Your Business: Cover Star Club

Profile: 'a lot of the hard work is done' says Charles Stanley

Profile: 'a lot of the hard work is done' says Charles Stanley

We’ve turned a corner, and there is positive momentum behind Charles Stanley says Charles Stanley's private client head

Wealth Manager on Twitter