Gilliat Financial Solutions has made its exclusive agreement with Société Générale to distribute the French bank's new structured deposit range official.
As reported, Société Générale Corporate and Investment Bank (CIB) entered the UK structured deposit market with a new deposit-based range of products for independent financial advisers at the end of October.
Adrian Neave (pictured), MD at Gilliat Financial Solutions said that the structured products specialist firm has gone from strength to strength in the past year and that it is always looking for new avenues to expand its offerings including deposits, which currently remain at the top of advisors' wish lists due to the uncertainty in the markets.
"As we are independent, our product range can incorporate many different deposit takers allowing diversification of counterparty risk, a subject at the forefront of many people's minds," he said." This relationship with Société Générale enables us to offer yet more choice in terms of deposit takers and, with the previous tranche having sold out very shortly after opening, this seems to be hitting the right note with advisors."
According to Neave, Gilliat, which is part of the private bank Arbuthnot Latham & Co., has seen significant growth over the past 12 months, including the launch of its international product range earlier this year.
The agreement means that structured deposits issued by Société Générale which have SG Hambros Bank Limited as the deposit taker, will be sold exclusively by Gilliat Financial Solutions.
Gilliat will also act as the plan administrator of the range.