Adviser firm Lowes Financial Management and Meteor Asset Management are launching a structured product platform in the summer.
SPwrap.com will use software developed by Lowes Financial Management to give advisers an overview of their clients’ structured product portfolio as well the ability to invest in new products.
Meteor Asset Management will provide the administration for the platform.
Portfolio management tools on the platform will allow advisers to see details of the products held by their clients, information on barrier and current index levels, timelines of key events in the portfolios’ lifecycles such as maturities and a breakdown of clients’ portfolios to different counterparties.
There will also be a breakdown of the plans that could or will mature in various tax years to assist with advisers’ tax planning.
The platform will charge a 0.65 per cent fee per investment rather than an annual charge.
It is being piloted with advisers next month and will go live in August.
Lowes Financial Management managing director Ian Lowes (pictured) says: “SPwrap.com will provide access to the product literature and display all of the relevant defined terms for each plan, plus it will show how the whole of the client portfolio interrelates.”
Whitechurch Securities managing director Gavin Haynes says: “If this improves transparency, then it can only be a benefit to the structured product market, given that one of the main criticisms has been that it can at times be opaque.”