As part of getting to know this year’s Headline Sponsor for the Professional Paraplanner Awards – Standard Life, we sat down with Andy Powell, Strategic Partnerships Lead, to explore how the provider is evolving its retirement proposition and why paraplanners are firmly at the centre of its plans.
When Andy Powell joined Standard Life just over three years ago, his role was to help build a retirement proposition from scratch, shaping products and processes while re‑establishing Standard Life as a meaningful contender in the retirement market.
“We had a real ambition to deliver for customers.” Andy said.
The pace of development since then has been significant. Standard Life launched a lifetime annuity followed by a fixed‑term annuity written under drawdown rules.
This structural nuance matters for paraplanners: the drawdown classification affects how death benefits work and how the product sits within wider portfolios.
The firm then introduced Guaranteed Lifetime Income (GLI) through Fidelity’s platform, marking a deliberate move toward embedded retirement solutions rather than standalone products.
More recently, smooth managed funds were added to give clients an option that blends predictability with potential for growth.
Andy describes these developments as steps toward something bigger – a more integrated retirement toolkit. “All the constituent parts exist across the industry,” he explains, “but for an adviser to use them coherently, there’s still a gap. That’s the opportunity for providers.”
A culture of fresh thinking
One of the reasons Standard Life has been able to move quickly is the culture and organisation’s willingness to challenge the status quo.
This mindset plays out not just in product design, but also in how Andy and the Standard Life team approach conversations with paraplanners.
Andy recalls presenting at Professional Paraplanner Technical Insight Seminars in 2025: “Although I had twenty‑plus slides, I told the room it wasn’t important if we went through them all. What mattered was giving them what they needed.”
This resonated strongly with paraplanners, which was reflected clearly in the events feedback.
That spirit of collaboration appears throughout Standard Life’s wider engagement too.
Their involvement in the Professional Paraplanner Awards, ongoing support for paraplanner communities and willingness to offer guidance to paraplanners, reflect a provider intent on meaningful partnership.
A practical support point
Although the company is building products and digital capabilities, one theme keeps surfacing in Andy’s conversations with paraplanners – medical underwriting.
It remains one of the industry’s biggest weak spots and an area where Standard Life believes they can make a tangible difference.
Andy has spoken openly to Professional Paraplanner about this very thing. Many clients under‑report health issues, either because they misunderstand their medical history or because previous insurance experiences have conditioned them to expect penalties. For advisers and paraplanners, this creates risks in both suitability and planning accuracy.
“If you’ve got a case with diabetes, respiratory conditions or anything complex, just call us,” Andy says. “We’ll help you understand what questions to ask.”
Standard Life wants paraplanners to view their underwriting team as a resource, not a sales channel.
What paraplanners can expect at this year’s Technical Insight Seminars
Standard Life will once again be presenting at the Professional Paraplanner’s Technical Insight Seminars in 2026, and Andy’s session is set to be both practical and helpful.
His focus is to give paraplanners usable insights. “The session is designed to give paraplanners tools, tips and the confidence to understand how different retirement income products can support specific client needs,” he explains.
He plans to explore how cashflow modelling interacts with guaranteed income, where fixed‑term annuities can add structure and how behavioural preferences influence the shape of advice.
However, the real value often appears after the sessions, when paraplanners approach Standard Life with specific cases. “That’s when it comes to life,” Andy adds. “Helping people with real scenarios is always where the best conversations happen.”
A focus on practical, long‑term support
The recent rebrand of Phoenix Group to Standard Life marks another shift. As Andy explains, “Phoenix was about mergers and acquisitions. Standard Life is about organic growth and supporting customers.” That shift in identity mirrors the direction of the retirement proposition itself, more integrated, more practical and more aligned with adviser workflows.
For paraplanners, Standard Life aims to be a partner in both the technical and practical aspects of retirement planning.
Whether through product development, underwriting support or education via events, the intention is to help advice firms build retirement plans with greater clarity and confidence.
As Andy puts it, “Paraplanners shape suitability and advice integrity. Supporting them isn’t a nice‑to‑have – it’s essential.”
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