Raymond James Investment Services, the UK arm of the Florida-based wealth management firm, has launched loan and cash account products for high net worth investors.

The company believes that borrowing is attractive for high-end investors because it means that they do not have to liquidate investments which would take them out of the market. Pershing Securities, part of BNY Mellon, is the lender.

The cash account pays 0.25 per cent interest on balances between £5,000 (about $7,500) and £1 million, and 0.40 per cent on deposits above that. The firm claims that it may also reduce risk by diversification across several financial institutions.