Wealth Manager - the site for professional investment managers

Register to get unlimited access to all of Citywire’s Fund Manager database. Registration is free and only takes a minute.

Cazenove reveals it will be independent post-RDR

Cazenove reveals it will be independent post-RDR

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’.

Several wealth managers have recently said they will be restricted under the new rules, including Brooks Macdonald, Rathbones, Brewin Dolphin and Quilter.

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.’

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Brewin's Gutteridge & Foster talk property with Standard Life's Baggaley

Brewin's Gutteridge & Foster talk property with Standard Life's Baggaley

Gutteridge and Foster discuss UK commercial property with Jason Baggaley, manager of the Standard Life Property Income investment trust

Brewin's Gutteridge asks Odey's Tim Bond two tough questions

Brewin's Gutteridge asks Odey's Tim Bond two tough questions

Gutteridge puts the heat on Odey's asset allocation maestro with a couple of tough questions.

Brewin's Foster & Gutteridge: searching for the yield of dreams

Brewin's Foster & Gutteridge: searching for the yield of dreams

Guy Foster and Ben Gutteridge discuss the latest upbeat US payroll report and how it has increased the probability of a first hike in interest rates in June.

Your Business: Cover Star Club

Profile: Creechurch Capital’s CEO on going the extra mile in a crowded market

Profile: Creechurch Capital’s CEO on going the extra mile in a crowded market

Growing a business is the main aim of many company owners but managing that growth in a controlled way is just as important

Wealth Manager on Twitter