Barclays shuts Woolwich PM in IFA platform push

clock •

Barclays is closing Woolwich Plan Managers as it rolls out its structured investment products on third party platforms.

The bank has recently changed its distribution strategy through multiple launches on Transact, Nucleus, 7IM, SEI, Ascentric, Novia, as well as self-invested personal pension (SIPP) providers AJ Bell, SIPPCentre and Suffolk Life and a number of stockbrokers. It plans to launch products on every major platform by next year. A spokesperson for Barclays pointed to the "changing regulatory landscape and rapidly growing use of third party platforms" for altering its IFA distribution strategy. "From 1 January 2013, Barclays will be making its structured investments for UK intermediaries ex...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Wrap/platforms

AJ Bell signs up to The Platforms Association's transfer charter

AJ Bell signs up to The Platforms Association's transfer charter

After being missed off TPA’s initial list

Sophia Panayi
clock 28 September 2026 • 1 min read
Big players give The Platforms Association's transfer charter a miss

Big players give The Platforms Association's transfer charter a miss

AJ Bell and Parmenion choose not to sign up

Sophia Panayi
clock 25 September 2026 • 2 min read
Most platforms sign up to transfer charter

Most platforms sign up to transfer charter

Signatories include Benchmark, Fidelity International and Quilter

Sophia Panayi
clock 17 September 2026 • 3 min read