Barclays Launches Online System for IFAs

Ian Allison

28 July 2006

Barclays is launching an online application platform for IFAs which will enable private investors to access the bank's core structured product range through their IFA's website. The system is primarily designed for execution-only IFAs, both reducing their administrative burden and complementing other online facilities they use, such as fund supermarkets. A number of IFAs, including Cavendish Online, Garrison and Moneyworld IFA have already signed up for the service, which provides a secure application process via a user-friendly menu-led system, and offers easy access to the full breadth of the Barclays’ structured product portfolio. Colin Dickie, director, Barclays Investor Solutions, told WealthBriefing: “We are leading the way in the world of e-money, which is growing fast. We see it working for fund supermarkets so why not the same thing for structured products." Barclays said it anticipates that this facility will be particularly attractive to execution-only brokers and expect all parties to benefit from this customer enhancing development.” The July series of Barclays’ core range is offered in conjunction with the platform and consists of:

Five-year Protected FTSE Plan - Offering 112 per cent growth participation in the FTSE 100 Index, 100 per cent capital protection at maturity with an optional mid-term knockout feature.

Three-year Protected FTSE Plan – Offering 70 per cent growth participation in the FTSE 100 Index, with 100 per cent capital protection at maturity.

Five-year FTSE Super Tracker – Offering 5 times any rise in the FTSE 100 Index, subject to a maximum return of 50 per cent. Soft protection is set at 50 per cent. This is a structured capital-at-risk product.

Six-year Minimum Return product offers the greater of 26 per cent fixed return or 50 per cent of the rise of the FTSE at maturity with full capital protection.