24 March 2026
From the periphery to the portfolio
There is a question worth sitting with: when did structured products stop being a specialist tool and start becoming part of mainstream portfolio thinking?
The shift has been quiet, but it has been real.
Across the UK adviser landscape, structured products are increasingly being considered within formal investment committees, included in model portfolios, and embedded into retirement and decumulation strategies. This isn't anecdotal. It reflects a broader, data-supported trend.
What the data actually shows
Walker Crips Structured Investments' track record offers a useful reference point: across 1,755 plans launched since December 2009, 99.51% delivered positive returns, with zero capital losses. Average annualised returns of 7.66% have been sustained through Brexit, a global pandemic, inflationary shock, and the fastest rate cycle in a generation. (Source: Walker Crips Structured Investments, data to 31/12/2025)
That consistency is getting attention.
Meanwhile, 2024 marked a record year for UK structured products, with 822 new products launched (Source: StructuredEdge), a figure that subsequent market activity suggests may soon be surpassed. Autocalls, particularly defensive autocalls, account for the largest share of that issuance, reflecting growing adviser preference for defined-outcome structures.
This does not make structured products risk-free. They are capital-at-risk instruments. Barriers can be breached. Counterparty risk exists. Suitability must be assessed carefully for every client.
But the data does challenge one persistent assumption: that structured products are niche, speculative or fringe.
Three forces converging
Several structural dynamics are accelerating adviser interest.
1) Retirement demographics: As more baby boomers move into drawdown, advisers face increasing pressure to manage sequence risk, the danger of a severe early-retirement drawdown derailing an income strategy. Defined maturities and conditional parameters align naturally with this challenge.
2) Valuation awareness: UK and US equity markets have delivered strong recent performance. Advisers who are conscious of elevated multiples are increasingly looking for ways to remain invested while managing downside risk.
3) The 60/40 question: The 2022 correlation shock, when equities and bonds fell simultaneously, forced a rethink. Structured products offer payoff-defined outcomes that behave differently to both traditional equity and duration-heavy bond allocations.
The governance signal
Perhaps the clearest sign that structured products are growing in popularity isn't the returns data. It's the governance activity. More firms are now setting counterparty exposure limits, building formal structured product panels, seeking Continuing professional development (“CPD”) training for advisers and administrators, and documenting suitability frameworks.
That professionalisation signals intent, not experimentation.
The differentiator
As adoption continues, the firms best placed to benefit will not simply be those that make structured products available. They will be the firms that invest in educating and upskilling their advisers, helping them develop a deep understanding of when structured products are appropriate, which clients they may suit, how they can complement existing investment strategies, how they behave in different market conditions, and how to explain them clearly to clients.
Ultimately, the advantage lies in equipping advisers with a broader set of tools and investment options, enabling more thoughtful portfolio construction and, most importantly, better client outcomes.
If you'd like to discuss how structured products could complement your current investment and retirement proposition, I'd welcome the conversation. Please contact me on 020 3100 8157 or joe.simpson@wcgplc.co.uk.
Joe Simpson
Director, Investment Management
Structured products are capital-at-risk investments and are not suitable for every client. Past performance is not a reliable indicator of future results. This article is for professional advisers only and does not constitute advice.
The value of any investment can go down as well as up, and you may get back less than you invest. Walker Crips Investment Management Limited is authorised and regulated by the Financial Conduct Authority (FRN: 226344).
Important Note
No news or research content is a recommendation to deal. It is important to remember that the value of investments and the income from them can go down as well as up, so you could get back less than you invest. If you have any doubts about the suitability of any investment for your circumstances, you should contact your financial advisor.
The value of investments can fall as well as rise. Investors may get back less than invested. Past performance is not a reliable indicator of future results.
The value of investments can fall as well as rise. Investors may get back less than invested.
