In response to growing demand from IFAs for access to a broad spectrum of investments including ETFs and in light of the changing regulatory landscape, Barclays Stockbrokers has announced it is re-launching its service for the intermediary market.
Barclays Stockbrokers has relaunched its intermediary offering in response to RDR and the growing use of ETFs by IFAs
Through one single online account, the service provides access to a broad range of ETFs and ETCs, as wells as UK stocks and bonds
Feedback from IFAs and the increased use of ETFs across platforms supports the view that demand for ETFs is set to continue to grow in the lead up to the implementation of RDR and beyond.
This view is also supported by recent data published by BlackRock which reveals that investment in ETFs through wrap platforms is on the rise – iShares reported that it saw its assets held on wrap platforms increase by over a third in 2011 and by 175% on a cumulative basis since Q1 2010.
In addition, Barclays Stockbrokers analysis found that since September 2008, the number of client accounts holding ETFs has increased by 159%, and by 77% comparing April 2012 to April 2009. In the same period (April 2009 to April 2012) the value of ETF assets held by Barclays Stockbrokers clients has nearly trebled (+188%). Analysis also found the average client trade size has increased by 24% between April 2012 and April 2010.
The Barclays Stockbrokers offering is aimed at intermediaries looking to manage a portion of their clients existing portfolios through a cost effective online service, as part of a multi-platform strategy. It offers intermediaries the ability to manage their clients’ portfolios 24 hours a day with the option to download statements and valuations. The service is also relationship managed including a dedicated specialist support team with expertise in trading, account opening and transfers.
Will Burge, Head of Corporate Sales at Barclays Stockbrokers, said: “More and more we are hearing about a growing demand from IFAs for access to a broad range of assets, and as we approach the arrival of RDR, we are seeing an increased demand from intermediaries for execution-only services.
“The re-launch of our service for intermediaries is in direct response to this feedback and is part of Barclays ongoing strategy to provide intermediaries with the products and services that will equip them to support their clients in the post-RDR world.”