Investec Bank will not launch any further structured products in the UK retail market from April 2021.
As a result, the next unveiling of plans, which takes place from 15 February 2021 to 1 April 2021, will be its last.
The bank said: “All existing plans, including all investments into Investec’s range of plans, are unaffected by the decision and will continue to function as set out in the relevant brochure, including clients’ rights with regards to encashment.
“Investec will continue to support all existing plans as they continue over the coming years.”
Investec’s decision to cease offering new retail structured products is a part of “its shift in focus to its core services for financial advisers”, including discretionary fund management and managed portfolio services on platforms.
