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.

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
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: UBS' robo boss on what his tween can teach the industry

Profile: UBS' robo boss on what his tween can teach the industry

Co-head of UBS SmartWealth Shane Williams explains the simple life lessons missed by the first wave of robo pioneers

Wealth Manager on Twitter