Royal London 360 has appointed its first wrap relations manager in response to the increasing popularity of wraps and their importance to the company's offshore bond proposition.
Mike Lane, who continues his duties as international sales manager covering South West England, took up his role last October.
A large part of his duties will see him provide offshore bond and taxation support to wraps which have relationships with UK-based IFAs.
"Our strategy is to be the preferred provider of offshore bonds and work in partnership with wraps," says Lane.
He believes one of the reasons for the accelerating popularity of wrap platforms with both investors and IFAs is the ease with which wealth can be managed.
"Wraps are becoming more important because clients want more control of their investments and want to be able to view them 24 hours a day, seven days a week," he says. "Having all of the client's underlying investments on one platform brings greater transparency."
Royal London 360 currently works with the Novia, James Hay and Nucleus wraps and is also partnering Merchant Investors for its offshore bond launched in January.
Lane says the company is now looking to develop relationships with new providers and distribution channels and reveals it is currently in negotiations with three wraps.
"As the number of wrap providers we work for increases, we recognise the importance of the wrap arena and are therefore committing more resources to it," says Lane.
Lane, who joined Royal London three years ago, has worked for Lloyd's Bank as financial planning manager for the South West region, Canada Life and Barclays Estates and Trusts.
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