Morgan Stanley has partnered with Gilliat Financial Solutions to distribute retail structured products through IFAs.
Gilliat managing director Adrian Neave says the firm has no immediate plans to distribute the products through restricted advisers.
He says: “At the moment the answer is no but that is not set in stone. I suspect a lot of those firms that are restricted actually exclude structured products, which is why they are restricted.”
Morgan Stanley executive director Marc Chamberlain says: “We already have an established relationship with Gilliat, having worked with the firm for a number of years as an asset provider. We are delighted to extend this to the distribution of our products. Gilliat is a highly respected firm and we expect the venture to be of great benefit to both parties as well as to our wider client base.”