Barclays' wealth division has closed its discretionary fund management service to advised clients with less than £250,000 of investable assets.
The firm has written to IFAs to advise them new clients will be able to access its range of funds and structured products through third party platforms, but said it will not be able to offer a full DFM service. A spokesperson said the approach was "better suited to helping [clients] to achieve their investment needs in a simple and cost-effective manner." The bank also said it was "no longer practical" to offer the service to direct clients with less than £100,000. Direct clients will be able to transfer to Barclays Stockbrokers at no extra cost. "Barclays believes that, given t...
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