Investments 

Verbatim structured deposits move

Verbatim structured deposits move

Verbatim Asset Management, the investment arm of the SimplyBiz Group, has launched a range of structured deposits.

Dan Russell, managing director of Verbatim, said: “We have worked with advisers to find out what solutions they would like to have as part of their supply chain, given the changes to Nisas and pensions.

“What we found was that the client need wasn’t for a particular product type, but instead to achieve certain goals: growth with capital protection and income with capital preservation. There is also a need for a variety of pots of money in retirement, to cater for different needs and each with a differing attitude towards risk.”

Key Features

The range will be available to accredited advisers from 16 February.

Advisers can choose from growth or income versions of the products

The products will be available for use within a Sipp, Nisa and Isa

Goldman Sachs will be the deposit taker.

Adviser verdict

Ian Lowes, founder of Newcastle-based StructuredProductReview.com, said: “It is positive to see a new entrant into the market with Verbatim offering these products and with Goldman Sachs as a deposit taker, for what I believe to be the first time in the UK structured product market.

“The launch will provide access to an additional counterparty over and above the usual suspects, which is especially useful when considering the benefits of diversification potential for deposit holders to maximise FSCS (financial services compensation scheme) protection.

“Given the products are linked to an underlying measurement other than a major index, it will not be easy to assess the value of the offer against a typical FTSE-linked structured deposit. We will be interested to see the terms for the products when launched.”