Meteor Asset Management and StructuredProductReview.com have launched the platform with a group of 12 advisers.
The platform, first revealed by Fundweb sister title Money Marketing, will be rolled-out to a wider advisory audience ahead of the RDR.
It gives advisers the ability to manage their clients’ structured product portfolios as well as the ability to invest in structured products across the whole market.
The first initial investment on the platform is £3,000, but this can be split between different products. Thereafter it is £1,000 to invest in each product. It can accommodate a wide range of adviser fee models, whether initial only, annual only or a combination of both.
Portfolio management tools on the platform will allow advisers to see details of the products held by their clients, information on barrier and current index levels, timelines of key events in the portfolios’ lifecycles such as maturities and a breakdown of clients’ portfolios to different counterparties.
There will also be a breakdown of the plans that could or will mature in various tax years to assist with advisers’ tax planning. Advisers can use one application form to purchase several products.
SPwrap.com head of distribution Mark James says: “SPwrap.com delivers the comprehensive functionality that financial intermediaries need to not only properly construct and manage their clients’ structured product portfolios but also to deliver RDR compliant advice on structured products with all the tools they will need at their fingertips.”
James adds: “Having the ability to both hold and trade structured products on a platform helps level the playing field between mutual funds and structured products and with empirical evidence indicating growing interest in structured products among financial advisers, the market looks set to grow sizeably in the next few years.”
Sructured products are not currently fully represented on major platforms, with Fidelity FundsNetwork, Skandia, Standard Life and Cofunds yet to offer a wide range of structured products from different providers.