26 April 2017

  • A suite of enhanced investment solutions bridging the narrowing gap between adviser and private client platforms
  • Improved financial planning support to deliver high quality advice and tax planning at retirement and beyond
  • Greater efficiencies in back office technology and reporting to deliver bespoke solutions to save time and resource in adviser and DFM businesses.

Standard Life today announces development plans for its award-winning Wrap platform. They will address the need for better integration between the investment management and financial planning worlds to support the best client outcomes in the post pension freedoms environment.

Flexibility of pension choices has seen the amount of investable wealth increase significantly resulting in new requirements fo r many advisers from their platform. Recognising these changes, Standard Life Wrap will move towards a new fully integrated wealth platform model offering solutions to suit both advisers and private client managers, with a programme of developments to reflect this:

  • The introduction of new tailored portfolio functionality enabling the automatic execution of personalised client mandates reflecting requirements such as asset exclusions, substitutions, ethical and CGT management strategies
  • Ability to segregate investment management and financial planning with a new dedicated interface and technology for back offices
  • Improved 'look-through' of multi-manager fund strategies including MyFolio 'superclean' funds
  • Improved reporting including brand new income and withdrawal reports
  • Extended support for retirement planning and intra-generational wealth transfers including a suite of junior products, tax efficient AIM portfolios and new modelling tools and alerts for at retirement clients.

David Tiller, Head of Adviser and Wealth Manager Propositions at Standard Life said: 'The post 'freedoms' world is well established and we are seeing more people in control of increasing amounts of pension wealth. As a result adviser businesses are adopting more of a 'family office' type approach by employing key experts, and so, in turn, are looking for more from their platform provider. The new model wealth platform must deliver individual solutions in an efficient manner through combining highly scalable process automation with the ability to tailor investment portfolios and tax strategies at a client level.

'The best wrap platforms are clean, transparent and able to deal with multiple tax strategies, while the best private client platforms are great at supporting scalable portfolio management. This plan for Standard Life Wrap brings together the best of both disciplines.'

Mike Hogg, Head of Proposition for Standard Life Wrap, said: 'We're privileged to have direct access to the most progressive advisory businesses in the UK, as well as close working relationships with leading DFMs and private client managers. The plans announced today have been specifically developed to support their business growth strategies, which increasingly depend on combining the very latest in portfolio management techniques with sophisticated tax and financial planning services. Bringing together these two capabilities into a single platform will mean wealth management businesses can deliver a fully integrated service to their clients.'

Notes to editors

About Standard Life

  • Standard Life was established in Edinburgh in 1825. Today it is a global investment company helping people to invest and manage their money.
  • Around 4.5 million customers and clients across 45 countries trust Standard Life with their financial future and Standard Life is responsible for the administration of £357 billion of their assets. Standard Life also supports over 25 million customers through Indian and Chinese associate and joint venture businesses.
  • Standard Life Investments actively manages £278billion worldwide, offering global asset management expertise with strong investment capabilities and performance.
  • Standard Life employs around 6,300 people internationally - through businesses in the UK, Europe, North America, Asia and Australia.
  • Standard Life plc is listed on the London Stock Exchange with around 1.2 million individual shareholders.
    Wherever Standard Life operates in the world, it is motivated by a sense of responsibility. That is what has helped it be a sustainable business over the long term. Standard Life is proud to be listed as a leader for corporate sustainability in its industry in the Dow Jones Sustainability™ Indices (DJSI World and DJSI Europe).

About Standard Life Platforms

  • Elevate and Standard Life Wrap are used by over 3,000 financial advice and wealth management firms and serves over 360,000 customers.
  • Total Standard Life platform assets under administration are over £44 billion including net inflows of £4.8 billion in 2016.
  • The 'Superclean' share classes for Architas funds are available on Elevate and Standard Life Wrap.
  • The Elevate platform was voted 'Best Platform Provider (AUM up to £15 billion)' by advisers at the UK Platform Awards 2016 for the second year in a row and the 'Best Platform for Adviser Service'. For the third year in a row, Standard Life Wrap was voted 'Best Platform Provider (AUM over £12.5 billion in 2014 and 2015, and AUM over £15 billion in 2016)' by the adviser community at the prestigious UK Platform Awards 2016.
  • For more information about Elevate visit www.elevateplatform.co.uk
  • Adviserzone is Standard Life's dedicated extranet site for UK financial advisers. Visit www.adviserzone.com for more details.

All figures are as at 31 December 2016 unless stated otherwise.

Standard Life plc published this content on 26 April 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 26 April 2017 12:30:14 UTC.

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