Barclays is planning to shut its financial planning arm, Barclays Financial Planning, Financial Times reports. The U.K. lender will exit the advice market for its retail consumers, adds Fund Strategy.
The London-based bank will continue to offer advice to high-net-worth clients through Barclays Wealth and Barclays Stockbrokers. The shutting down of the financial planning unit may affect 1,000 jobs.
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