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Standard Life Wrap awarded A rating by AKG

16 April 2018

Standard Life has been awarded the first A rating for the financial strength of its Wrap platform by ratings and consultancy group AKG.

The rating was based on a detailed assessment of publically available information as well as face-to-face meetings and additional confidential market material.

In addition to rating its financial strength, AKG also assessed the Wrap’s service (five star rating), image and reputation (four star rating) and business performance (five star rating).

David Tiller, head of adviser and wealth manager propositions at Standard Life, said the rating was something the group had been working towards for several years.

He said: “Clients rely on their platform for numerous critical services, so knowing their adviser has selected a platform that is safe, secure and can ensure continuity of service is reassuring. Platforms require significant financial backing and our strong position offers reassurance that we can both withstand extreme events and can continue to invest.”

Guy Vanner, managing director at AKG, commented: “We have seen Standard Life Wrap deliver on what was proposed in the initial business plan, maturing and growing in scale as the business had always intended it would. In many ways the platform is more core to the business than it was before and that only emphasises its maturity in the market.”