The decision reflects the firm's shift in focus of its services to financial advisors.

Investec Bank this week announced that it will not launch any more retail structure product plans in the UK retail market from April this year, citing its decision to change how it serves financial advisors.

The next launch of new plans, which takes place from 15 February to 1 April 2021, will be Investec’s last, the firm said in a statement.

All existing plans (including all investments into Investec’s range of plans) are unaffected by this decision and will continue to function as set out in the relevant brochure, including clients’ rights with regards to encashment. Investec will still support all existing plans as they continue over the coming years. 

“Investec’s decision to cease offering new retail structured products is a reflection of its shift in focus to its core services for financial advisors: discretionary fund management and managed portfolio services on platforms (MPS)."

The firm entered the UK structured products market in 2008, and has won a series of awards for this business line, it added. 

In March last year, Investec’s asset management business was demerged and separately listed as Ninety One.