Jubilee Financial Products head of distribution Ian Millward says it will take up to two years for the firm to be widely accepted by advisers as a structured product provider.
He says the company will be profitable before then but it will take time for advisers to trust the brand. He says: “It will take at least 18 months to two years before people start using us.
“We would hope that by Q1 next year, the volumes we are bringing in would more than cover the cost of the business.”
In November, Jubilee cancelled its early redemption plan issue 4 after reviewing FSA guidance on prospectus rules published a month earlier.
It is planning to launch a momentum-based fund that seeks returns from rising and falling global indices. It is seeking an initial £3m-£4m to seed the fund which it expects to roll out at the end of Q1 next year.