Abbey National is looking at opening up its wealth management service Inscape and fund supermarket FundsCentre to IFAs.
Inscape was set up in November 2000 for people with more than £50,000 to invest, offering a multi-manager portfolio service and tax and other financial planning at 12 regi-onal advice centres. Abbey is considering whether to make Inscape available to intermediaries either through a fund or as a full stand-alone service. Inscape multi-manager funds may also soon become available to products from Abbey's other intermediary brands, such as Scottish Mutual.
Abbey is starting a major reshuffle of its wealth management and long-term savings division to bring its intermediary brands in to one group, with the fund management capability of Inscape pooled with Abbey National Asset Managers.
Inscape offers access to managers such as Axa Rosenberg Investment Managers, Dresdner RCM, Goldman Sachs, Merrill Lynch and State Street Global Advisers.
The bank recently launched a direct fund supermarket with 280 funds from 24 managers called FundsCentre which may also become available to intermediaries.
Wealth management and long-term savings sales and marketing director Ambrose McGinn says: “We are looking at how we can use Inscape for intermediaries. There is a move to multi-manager propositions. We offer a blend of fund managers that are not usually available to the retail market.”