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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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7 comments so far. Why not have your say?


May 14, 2014 at 13:30

There is no doubt the "abandonment" of clients with liquid assets below £ 500,000 with Barclays Wealth is most unwelcome to its clients in this area . The net result has to be such clients wondering where to place those funds and this is very likely to lead to those clients moving from banking at Barclays . Some avenues for them appear to have closed ( Coutts etc ) and I , for one ( or two, with my wife) would be interested as to areas to explore. Anyone like to contribute to this?

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May 14, 2014 at 15:28

I feel in the new world they are buying time, once the dust has settled they will buy a national DFM, M&A is on its way

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Nil Satis

May 14, 2014 at 15:36

@Early Bird - have you tried Brown Shipley - know a nice chap in their Manchester offic

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Once bitten twice shy

May 14, 2014 at 15:54

The already bought a DFM in Gerrard Investment Management, which they destroyed in only a few years.

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Neil McCann

May 14, 2014 at 19:40

@Early Bird. Try St James's Place - they have no minimum, but it's generally all collectives and no direct investments. But that could be a positive...

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Gary Rusby - GHC Capital Markets Limited

May 15, 2014 at 10:08

Our minimums are as follows:

Model Portfolios such as our DCS service £25k and above

Actively managed tailored portfolios such as our OPS service £50k and above

Fully bespoke portfolios £100k and above

You do not have to be ‘ultra high net worth’ to get a good discretionary managed service.

If you would like further information on what we can provide, email me at or visit our website

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David Cowell

May 15, 2014 at 10:10

Early Bird, I would suggest a boutique, local discretionary manager where the staff are likely to be shareholders and have the best interests of both clients and themselves aligned. If you are in the North, try us at Myddleton Croft.

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