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Standard Life unveils development plans for Wrap and Elevate platforms

14 May 2018

Standard Life has unveiled new development plans for its Wrap and Elevate platforms, which it says are designed to strengthen and improve the support and end-to-end experience the platforms offer advisers and their clients.

Standard Life said the Wrap platform will continue to focus its enhancements on the tailoring and presentation of holistic financial solutions in retirement, while Elevate users will benefit from enhanced investment options and advanced platform-user experience.

Improvements include reducing time taken and enhancing controls linked to portfolio management, delivering clear and concise client reporting, extending the scope of tax and financial planning capability and enabling accurate, scalable mapping of portfolio strategies within the Wrap platform.

Meanwhile, Standard Life will extend the reach of back office integration on its Elevate platform, while providing clearer client portfolio reporting, enhance tools and functions to maximise tax benefits for clients and extend the range of investment options available.

David Tiller, head of adviser and wealth manager propositions, Standard Life, said: “We have a proven track record in platform development and service, with our innovative investment hub and tailored drawdown offerings driving record growth in recent years. 2017 was a fantastic year for our platforms with the biggest inflows we have ever seen and to support adviser service levels, we prioritised stability and process enhancements.”

He added: “Adviser capacity is being seriously stretched. Advisers need to know they are able to rely on their platform to find new ways of helping their business scale up, while ensuring continuity of service. The development plans we’re announcing build on solid foundations to take a major leap forward in the support that Wrap and Elevate will be able to provide advisers.”