Wednesday, 31 October 2012 10:16
Standard Life focusing on 'new model' advisers in run-up to RDR
Standard Life's assets under administration grew from £198.4bn to £211.9bn in Q3 2012 as it moves to focus on 'new model' advisers.
According to its interim results today, the firm said it was focusing on both independent and restricted 'new model' advisers who would prosper most after RDR and had implemented fully RDR-compliant adviser charging on its platforms.
The firm's platforms have 209,000 customers with assets under administration up 30 per cent to £13.8bn.
Total Sipp customers were up 20 per cent to 152,800 while assets under administration were up 19 per cent to £19.0bn.
The number of adviser firms using the Standard Life wrap platform increased by 15 per cent from 969 to 1,117 with the average assets under administration per firm being £9.5m.
David Nish, chief executive of Standard Life, said: "Standard Life has performed well in the first nine months of the year, continuing to grow our assets despite the uncertain economic environment.
"In the UK, we are ready to assist our customers, advisers and employers with the significant regulatory changes already underway. The phased implementation of auto-enrolment has commenced and we are already offering fully RDR-compliant adviser charging on our platforms.
"By combining our platform technology with investment expertise and high levels of customer service, we are in a unique position to meet the broadening demand for investment solutions from customers, advisers and large financial institutions."
According to its interim results today, the firm said it was focusing on both independent and restricted 'new model' advisers who would prosper most after RDR and had implemented fully RDR-compliant adviser charging on its platforms.
The firm's platforms have 209,000 customers with assets under administration up 30 per cent to £13.8bn.
Total Sipp customers were up 20 per cent to 152,800 while assets under administration were up 19 per cent to £19.0bn.
The number of adviser firms using the Standard Life wrap platform increased by 15 per cent from 969 to 1,117 with the average assets under administration per firm being £9.5m.
David Nish, chief executive of Standard Life, said: "Standard Life has performed well in the first nine months of the year, continuing to grow our assets despite the uncertain economic environment.
"In the UK, we are ready to assist our customers, advisers and employers with the significant regulatory changes already underway. The phased implementation of auto-enrolment has commenced and we are already offering fully RDR-compliant adviser charging on our platforms.
"By combining our platform technology with investment expertise and high levels of customer service, we are in a unique position to meet the broadening demand for investment solutions from customers, advisers and large financial institutions."
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