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Standard Life launches tailored investments service on wrap

3 November 2019

Standard Life has launched a new technology solution on its Wrap platform, enabling discretionary fund managers to create a more personalised service for advisers and their clients. 

The group’s Individually Managed Accounts (IMA) allows advisers to execute client specific instructions, agreed capital gains tax strategies and tax allowance usage without the need for manual intervention.

Standard Life said the ability to create personalised client outcomes means advisers can operate a consistent house process with their chosen investment proposition for all their clients.

All advisers and DFMs offering investment solutions on the wrap platform will be able to access this new capability at no extra cost.

So far, a number of discretionary fund managers have committed to offering the solution to advisers they work with, including Aberdeen Standard Capital, Bordier UK, LGT Vestra, FE Investments, Mercer, Morningstar Investment Management Europe Ltd., Sanlam Investment management and Sarasin & Partners.

David Tiller, head of UK propositions, Standard Life, said the new technology was in response to growing demand for tailored investments and tax-optimised outcomes.

“For the first time, financial planners and investment managers can, through our technology, create individual outcomes without expensive manual interventions. Advisers have told us the goal must be the ability to provide tailored private client investment solutions on their chosen platform with the same efficiency and price as simply buying a fund.”

Jenny Davidson, head of platform investment proposition, Standard Life, added: “The whole process of developing IMA has been collaborative. In many ways it is the advisers and discretionary managers and their insights that are the true inspiration for this innovation.

“We wanted to know that we would help them maximise on efficiency and minimise costs, while delivering overall greater value for clients. As a result, we have we have ended up with a ground-breaking solution for advisers and discretionary managers alike.”

Professional Paraplanner