View the article online at http://citywire.co.uk/wealth-manager/article/a751143
Will Barclays ultimately regret its sub-500k decision?
by Dylan Lobo on May 14, 2014 at 12:54
The timing of the decision was perhaps a little unfortunate.
In March, chancellor George Osborne stunned the pension world by saying people will no longer have to buy an annuity on retirement.
This opens up a range of opportunities for wealth managers to serve a potential flood of money coming out of this £12 billion a year market.
Last month Wealth Manager canvassed the views of seven discretionary managers to find out how much potential they saw in this opportunity.
No doubt if there is an opportunity out there, Barclays immense distribution strength leaves it well placed to exploit it through any new service it wishes to launch.
However, its shift in attitude to the sub-500k market may mean one or two potential clients think twice before using Barclays.
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