Lowes Financial Management has unveiled plans to develop structured products in collaboration with providers.
The firm has launched the Lowes Structured Investment Centre in a bid to facilitate “sector cooperation” in the market.
The first provider to work with Lowes will be financial services firm Mariana Capital Markets. Societe Generale will act as counterparty on the first product development.
The arrangement will see Mariana and Lowes split fees charged on the new product, which Lowes says are not expected to exceed 3.5 per cent over a 10-year term.
The maximum Lowes FM could be making from this tranche of the product would be £15,000, the firm says.
Where the product has been recommended by a Lowes adviser, the company’s share of the product fee will be donated to the Charities Aid Foundation, an independent charity that provides products and services to other UK charities.
Lowes says the division of fee income between itself and the companies it works with through the centre will vary.
Lowes Structured Investment Centre head of strategic development Chris Taylor, who will head the centre, says: “We’ll be developing a range of structured investments with providers wanting to extend their product range. We’ll collaborate with the sector to develop investments for professional advisers.”
Advisers accessing the available investments through the centre will also be able to use StructuredProductReview.com, a service that provides research, information and educational tools on structured products.