Edmond de Rothschild Investment Managers (Edrim) has announced plans to launch both core and secondary offerings for the financial advisory market. According to the firm, its primary products will include structured products, which it views as a 'concrete alternative' to the declining rates offered by traditional life insurance contracts invested in government bonds.
Since its creation a year ago from the merger of Edmond de Rothschild Financial Services and Edmond de Rothschild Multi Management, Edrim has worked primarily with institutional clients. However, development director Patrick Raffard told SRP the company has recently hired a three-man sales team dedicated to partner-distributors, which includes financial advisers. This follows its announcement last week of a move towards the advisory space, which it sees as a future area of growth for its business.
Though the limited size of the team will prevent it from marketing to all the advisers directly, Edrim aims to target the main private banks, advisory networks and referencing platforms. According to Raffard, should its strategy prove successful, the firm hopes to achieve a third of its sales from financial advisers alone.
So far this year, Edrim has launched three products under its own name (Zénith Sécurité, which sold €4m, LCF Absolu Février 2018 with €7.6m and Double Top Mémoire 4, €5.1m), saw one of its older products, Double Top Mémoire 3, knock out delivering 107% after a year's investment, and distributed Europae 2 (€31.1m) via Cortal Consors. It is currently developing a 90% capital-protected structured product to follow on Multiflex Emerging.