Standard Life says the changes have been made as a result of feedback from Elevate users. They mostly focus on efficiency, ease of use and delivering client value but also include greater ability to add outsourced investment solutions. The changes include:
• Revised new business process – a “more intuitive experience” with more one click options making the process “easier and quicker”
• Enhanced Investment Selection Tool – streamlined search filters, advisers can save their favourite funds and clearly identify the cheapest share class
• Easier access to outsourced fund solutions – new option for fund selection based on the IA Volatility Managed sector.
Steve Owen, head of platform proposition for Elevate, said: “These developments will offer richer functionality as well as much slicker processes, with many click through operations reduced by up to two thirds.
“This is a major step in ensuring the new business process is fully aligned to the way advisers do business. This is all about enabling advisers to help them grow their businesses while offering their clients a great service.”
David Tiller, Standard Life head of adviser and wealth manager propositions, said: “This ensures we are delivering what our advisers want us to deliver. We are seeing record levels of new business coming onto Elevate, and we want to thank advisers for supporting us during this period of change and investment in the platform.”
Standard Life, which recently merged with fund manager Aberdeen, operates two platforms: Standard Life Wrap and Elevate, which was acquired from AXA. Elevate and Standard Life Wrap are used by 3,000 financial advice and wealth management firms and serve over 380,000 customers. Total Standard Life platform assets under administration are over £49 billion.