Barclays Wealth has announced a partnership with Swindon-based Intrinsic Financial Services to distribute structured investments products in the UK. The UK bank will act as the preferred supplier of structured products for Intrinsic as it builds a footprint in the market.
Bryan Parkinson, head of Barclays' IFA sales, said the partnership is aimed at complementing the advisory firm's product range.
"Through our relationship with Intrinsic Financial Services we believe investors will have access to an increased number of financial solutions, including the newly launched Wealthbuilder, which will help them benefit from their investments," he said.
Barclays Wealth's Wealthbuilder deposit will be the first product on offer. It will register a fixed return of 5% for each anniversary on which the FTSE100 index is at or above its strike. The return is payable at the end of six years with the maximum return being 130% of initial capital.
Kevin Ronaldson, group marketing director at Intrinsic Financial Services, said the partnership will also will provide input into Intrinsic's marketing strategy.
According to SRP data, Barclays Wealth is the second most prolific issuer of retail structured products in the UK with 47 products marketed so far this year and an estimated sales volume of almost £700m. Its range comprises 41 FTSE100-linked structures, including Defined Distribution Plan, Defined Returns Plan Annual Kick Out, FTSE Returns Plan, Growthbuilder, Moneybuilder, Supertracker, Superstriker, UK Distribution Plan and Target Growth Plan, and six structures linked to the MSCI Emerging Markets (Emerging Markets Optimiser) and to the FTSE China 25 (China Optimiser).