Barclays and L&G have teamed up to launch a series of structured product investments into the IFA market.
The first product is set to launch on 8 April, with a series of structured investments set to follow.
Barclays announced in December that it is to close Woolwich Plan Managers and offer all its structured investments for IFAs unbundled through third party platforms and stockbrokers in a revamp of its distribution strategy.
Barclays director of investment solutions Richard Henry says this deal will sit alongside this strategy.
He says: “We see this tie-up as complementary with our own strategy of offering unbundled investments to platforms, and this in a bundled format fits in well as a client-centric offering.”
L&G head of structured solutions James Harrington says: “L&G have brought IFA structures to the market since 1995 and taking advantage of Barclays change in strategy and L&G’s strategy with regards to delivering bundled product made this an ideal opportunity to come together.”
Harrington says the move will not affect the firm’s existing range. L&G has launched 165 plans since 1995.
CandidMoney.com founder Justin Modray says: “Both group’s are big players in the structured products market so there are likely to get scale with their marketing and distribution capabilities.”