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10th: Investec’s preparation for RDR paid off

Investec Wealth and Investment

Getting ready well in advance of RDR helped Investec Wealth and Investment increase sales by more than a third this year, according to Mark Stevens, head of intermediary services.

He also acknowledged that strong signs of recovery in economic growth and stock markets meant that “investor confidence has returned, adding to gross sales overall”. Gross sales advanced £350m during 2014 as IWI passed the £1bn mark.

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The pre-preparation for RDR paid off this year, Mr Stevens added, saying: “We invested time and effort in working alongside the financial adviser community to ensure it was prepared for the changes in the RDR. This investment has paid off as we are now closer to financial advisers than ever before.

“Changes that came in with RDR have continued to have an impact, as financial advisers have come to appreciate the value that we can add, and perhaps, as importantly, they no longer feel that we are in competition with them.”

There has also been a period of relative stability at IWI, following Williams de Broë becoming part of the company in 2012 after Investec bought stockbroker Evolution.

This gave the company time to invest further in its research capability. Mr Stevens said: “This provides financial advisers with the high degree of confidence they need to assure clients that they are getting the best possible information and advice. This additional and unique level of service is what we believe makes us stand out from the crowd, and has been one of the biggest contributors to the increased funds number over the last year.”