Tempo Structured Products, a new company offering retail and institutional propositions and targeting UK professional advisors and wealth managers, has launched today (May 3). The new company is headed by Chris Taylor (pictured), global head of structured products and previously a director of UK structured products distribution at HSBC Asset Management, as well as chief executive at Blue Sky Asset Management and managing director at Incapital Europe.
The company will release a product suite including kickout, growth and income structures later this week, according to Taylor. "It is important for advisers and wealth managers to extend their research due diligence to include 'operational risk', alongside issuer and market risk', which is a regulatory requirement for Distributors, under PROD',' said Taylor.
As part of its collateral support for these advisers and wealth managers, Tempo will provide access to advanced counterparty due diligence capabilities via its issuer and counterparty scorecards (Tics), including side-by-side view and Tics reports for individual issuers, "to support advisers to a level not readily possible before". In addition, the company is building a continuing professional development (CPD) accredited professional adviser academy for advisers, "who want to know more about structured products", and a newsletter (Alpha Times) with input from commentators, such as Financial Times columnist David Stevenson.
"Our academy will cover the bases, from a generic introduction to an advanced level of detail; and all accredited modules have identified learning outcomes and online tests," said Taylor. The newsletter has been designed "so that it can be white-labelled for advisers to send to their own clients", according to Taylor.
The new company is also the first structured products provider to be a corporate member of the Plain English Campaign, "and to have our product literature crystal-mark approved", according to Taylor. "It sounds simple, but it's a big commitment and an arduous process, and an important and positive step forward," he said.
The company is part of Alpha Real Capital Group, a co-investing fund management group, which focusses on income security from real assets. Taylor pointed to the "benefits from the operational strength, resources and support of a substantive group that has prioritised investment in establishing the business, addressing governance and developing the resources we will offer professional advisers".
''Our approach is ground-breaking, supporting our claim to be the first of a new generation of structured providers presenting a higher calibre approach, including a focus on operational strength, robust governance, and exceptional support and services for professional advisers and their clients," said Taylor.
"Our entire product offering will be 'deliberately defensive', with very precise requirements regarding the defensive features, in order for us to launch strategies for public offer, but also offering some stellar potential returns," said Taylor. Tempo will also immediately be live with an institutional proposition, including two trades that will strike during May and June, for a small number of wealth managers, including stock brokers and discretionary fund managers.
The senior management of Tempo includes Mark Dickson and Sophie Barnett, respectively formerly global head of product development at HSBC Asset Management and a former head of structured product marketing at Morgan Stanley and a serving director of the UK Structured Products Association.
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