Barclays cuts DFM service for sub-£250k clients

clock

Barclays' wealth division has closed its discretionary fund management service to advised clients with less than £250,000 of investable assets.

The firm has written to IFAs to advise them new clients will be able to access its range of funds and structured products through third party platforms, but said it will not be able to offer a full DFM service. A spokesperson said the approach was "better suited to helping [clients] to achieve their investment needs in a simple and cost-effective manner." The bank also said it was "no longer practical" to offer the service to direct clients with less than £100,000. Direct clients will be able to transfer to Barclays Stockbrokers at no extra cost. "Barclays believes that, given t...

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 Managed solutions

Multi-asset sentiment indicator: Positive view on UK equities

Multi-asset sentiment indicator: Positive view on UK equities

'UK equities remain cheap when compared to overseas'

Paul Ilott
clock 13 March 2024 • 5 min read
Insourcing is 'evolution not revolution' for advice firms

Insourcing is 'evolution not revolution' for advice firms

‘We see it as an elegant halfway house for both advisers and their clients’

Isabel Baxter
clock 05 March 2024 • 2 min read
Timeline portfolios go live on SS&C Hubwise platform

Timeline portfolios go live on SS&C Hubwise platform

Move to ‘drive down costs and improve results’ for advisers

Jenna Brown
clock 28 February 2024 • 1 min read