Cater Allen has launched an 'Retail Distribution Review (RDR)-ready' structured deposit plan, offering 100% participation in FTSE 100 growth, capped at 26%.
Although structured deposits are not affected by the RDR rules, the bank, part of Santander UK, said the new product would be suited to firms operating on an adviser charging model. The Cater Allen Three and Three Quarter Year Growth Plan has monthly averaging over the final six months to ease against any market volatility. Offering 100% capital protection if kept to maturity, the plan requires a minimum deposit of £5,640 and is suitable for 2012/13 Cash ISAs and ISA transfers to benefit from an individual's Cash ISA tax-free allowance. It can also be used within an offshore bond w...
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