Barclays’ Kitson wants structured tools for IFAs

February 5, 2010

Barclays Wealth Intermediaries third-party distribution director Roland Kitson has called for IFA portfolio planning tools to incorporate structured products more in their models.

Kitson said many advisers are forced to use structured products outside their clients’ model portfolio.

He said: “The problem is that a lot of the decision-making processes, particularly the computerised processes that throw out standardised portfolios based on models written by a certain fund manager or distributor, do not include structured products within their make-up so when an adviser uses them they are doing so outside the broader portfolio matrix and that cannot be right.

“What we need to do as an industry is encourage the use of products within that advice matrix so that when an adviser goes through the decision-tree process structured products are advised and not just sold on the side of the portfolio. It is a fundamental shift from where we are at the moment.”

Barclays Wealth managing director Colin Dickie said: “Wherever you may be advising a mutual fund, I want there to be a structured alternative.

We will migrate the product range in such a way that it mirrors the mutual fund range. It is hard to get there because the reality is that the FTSE products are the ones that sell within the UK.”