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‘Structured products will revolutionise sector’

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    Mark James, head of distribution for SPwrap.com, claimed the way structured products can be purchased and held will revolutionise the sector. He predicted they would become more accessible and better understood, as the platform officially opened its doors to the whole financial adviser market.

    Mr James said opening up distribution platforms to structured products would fundamentally change the market, making it easier for advisers to transact business and to monitor investor portfolios.

    He said access to structured products had been limited on some of the independent wraps and not all platforms had made them available to investors. Where they have been available, the investment information was usually very basic and added little value for the client or adviser.

    Mr James added: “However with structured products appearing on many more advisers’ radars, this situation is set to change rapidly. The introduction of SPwrap.com as a dedicated structured product platform will help drive that, making it easier for an adviser to invest customers in structured investments and to provide detailed, timely information to their customers.”

    Adviser view

    Adrian Pickersgill, director of Birmingham-based IFA Chatfield Private Client, said: “We do not get involved in structured products – we don’t recommend them. They’re not transparent and are more complicated because of counter-party risk. They can be very inflexible in terms of people’s planning. There can be harsh penalties with no option to get hands on funds. The other problem is once you’re in them, it’s defined how returns will be calculated but in the present economic world we’re in, it’s far more dynamic. You don’t want to fix yourself into structured products.”

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