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We thought we would provide a brief note in relation to the requirements of Mariana in relation to their 28th tranche of the 10:10 Structured Product distribution.

The counterparty being used for the November tranche is Morgan Stanley – who have directed the Plan Manager (Mariana) to distribute the product, requiring investors to take regulated financial advice.  No non-advised investments will be currently permitted into the Mariana 10:10 product via Morgan Stanley.

Mariana have used a number of counterparty issuers previously, being Citi, Société Générale (Soc Gen) and expect to use HSBC and Goldman Sachs in the near term.  We know that HSBC require ‘regulated advice’ to be provided with all investments made so we will inform you as changes develop.

BestPriceFS, in our view, enable exceptional value for money where advice is required as no other non-advised business will now be able to market the current Mariana 10:10 product.  Most regulated advisers charge 3%+ of the investment amount to provide a recommendation leading to a ‘suitability outcome’ where BestPriceFS charge 1.5% (with a minimum advice fee of £300), so it is clear that we are applying our value for money vision, with access to quality products.

If you require information or advice, simply follow the ‘journey on our website’ or contact us directly.

Mariana have also stated that a new deposit product will be launching later this week, using RBC, which will be FSCS protected up to £85,000.  So, for those who have invested in the Deposit Plan with Investec and filled their FSCS protection limit with specific banks, a new outlet will shortly become available.  We will update you when the details are provided to us.

 


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