Wednesday, 24 April 2013 09:52
Standard Life benefits from RDR and auto-enrolment opportunities
Standard Life has seen assets under administration reach £233bn, up seven per cent in the first quarter of 2013.
In its Q1 2013 results today, the firm said this increase was due to improved flows and positive market movements.
Group assets under administration flows were £2.8bn and long-term saving flows were up 26 per cent to £1.4bn.
Standard Life Investments saw assets under management increase to £3bn, up from £1.1bn in the first quarter of 2012.
The firm, a corporate member of the Institute of Financial planning, said it had had a "smooth transition" to the RDR.
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Almost three-quarters of the firm's wrap clients were now operating via adviser charging and the number of firms using the Standard Life platform increased by 12 per cent to 1,168 firms.
Some 190 adviser firms using the platform had more than £20m on the platform, up 43 per cent on Q1 2012.
Total platform assets under administration increased by 11 per cent to £16.2bn.
The launch of auto-enrolment helped pension sales and the firm said it had over 300 auto-enrolment implementations scheduled for 2013. Long-term savings sales were up 24 per cent to £6.3bn.
David Nish, chief executive, said: "Our UK business had a good start to the year and while the industry continues to see disruption as a result of the introduction of the RDR, we have made a smooth transition to operating under the new regulatory environment with encouraging early indicators from both our corporate and retail customers and their advisers."
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In its Q1 2013 results today, the firm said this increase was due to improved flows and positive market movements.
Group assets under administration flows were £2.8bn and long-term saving flows were up 26 per cent to £1.4bn.
Standard Life Investments saw assets under management increase to £3bn, up from £1.1bn in the first quarter of 2012.
The firm, a corporate member of the Institute of Financial planning, said it had had a "smooth transition" to the RDR.
{desktop}{/desktop}{mobile}{/mobile}
Almost three-quarters of the firm's wrap clients were now operating via adviser charging and the number of firms using the Standard Life platform increased by 12 per cent to 1,168 firms.
Some 190 adviser firms using the platform had more than £20m on the platform, up 43 per cent on Q1 2012.
Total platform assets under administration increased by 11 per cent to £16.2bn.
The launch of auto-enrolment helped pension sales and the firm said it had over 300 auto-enrolment implementations scheduled for 2013. Long-term savings sales were up 24 per cent to £6.3bn.
David Nish, chief executive, said: "Our UK business had a good start to the year and while the industry continues to see disruption as a result of the introduction of the RDR, we have made a smooth transition to operating under the new regulatory environment with encouraging early indicators from both our corporate and retail customers and their advisers."
• Want to receive a free weekly summary of the best news stories from our website? Just go to home page and submit your name and email address. If you are already logged in you will need to log out to see the e-newsletter sign up. You can then log in again.
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