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IFA sales soar 250% at Barclays Wealth

Barclays Wealth says its IFA sales increased by 250 per cent last year.

The group has taken £440m in sales from 1,000 IFA firms. It says flows have continued to grow this year, with £115m in sales in January alone.

Leading products for Barclays Wealth last year included its defined returns plan, which offers full capital protection and an early maturity option.

Director Colin Dickie says: “The current run rate is extremely healthy but there are challenges in the market.

“We are confident that the current levels will continue as people look for income and are earning nothing being in a bank. Our big frustration is getting into the platform market, which is the big opp-ortunity in 2009, but we feel that we have done a good job up to now.”

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