Standard Life has added a larger range of discretionary fund managers to its adviser platform Elevate.
The new additions, which advisers can access through the platform’s Separately Managed Accounts (SMA) service, will offer advisers access to a wider range of model portfolios, the group said.
The first DFMs to be added are Aberdeen Standard Capital; LGT Vestra; Brewin Dolphin; Tatton Investment Management and FE Investments, with plans to add more partners by the end of the year. It follows demand from advisers for greater investment choice on the platform.
Advisers will stay in “full control” of the client relationship, whilst benefiting from the expertise of investment specialists, Standard Life said.
Alastair Ward, head of platform proposition, Standard Life, said: “The key to this new service is offering a combination of efficiency, choice and control, as well as greater flexibility for advisers to work with their DFM partners.
“Elevate advisers told us they wanted more investment choice on the platform. With the successful launch of SMA’s last year the natural next step was to extend the DFMs available, so we’re delighted with the firms already on board, and we have a few more to follow.
“Regulation is always a consideration and the introduction of the DFM service will help advisers meet PROD requirements as the technology can help advisers run their CIP in a more efficient way, ensuring a more tailored client approach.”
Noel Butwell, CEO, Standard Life, added: “Earlier this year I made commitments to the adviser market about enhancing their experience of working with us. We want to support adviser businesses to be successful and keep providing great advice to their clients. We’ll do this by continuing to invest in improving in our processes and listening while developing existing functionality and bringing new innovation.”
