05.10.2006
Standard Life and UBS enter into SIPP venture
Standard Life is pleased to announce the start of a key relationship with UBS in respect of their Self Invest Personal Pension (SIPP) initiative. As part of this alliance, Standard Life has been added to a select list of SIPP providers for the administration of life and pensions business written by UBS.
Trevor Matthews, Chief Executive Standard Life Assurance Limited, said:
"This is a fantastic opportunity to broaden our distribution reach for an important product line. UBS Wealth Management has over 200 client advisers with SIPPs forming a core part of their distribution strategy to high net worth and ultra high net worth private clients. Our strategy to continue to diversify our channels of distribution and build upon successful alliances already in place is paying dividends."The Standard Life SIPP launched in December 2004 and has attracted over 20,000 customers with investments in excess of £2.4 billion (as at 30 June 2006).
John Williams, Executive Director for Products and Services at UBS Wealth Management, said:
"At UBS we have a strong pensions advisory capacity together with an experienced team of investment professionals, who have a comprehensive understanding of the decisions made when planning for a client's retirement. This new relationship with Standard Life is key to our commitment to the growing self invested pensions market."
Ends
For further information please contact:
Yvonne Savage, Standard Life
Direct: 0131 245 0476
Mobile: 0771 248 6331
Paul Keeble, Standard Life
Direct: 020 7872 4481
Mobile: 0771 248 6387
Hana Irani, UBS
Direct: 020 7568 9822
Mobile: 07789 948 873
Notes to Editors
1. Standard Life has sold over 20,000 SIPPs since launch in December 2004 and
has attracted more than £2.4 billion of investment (as at 30 June 2006).
2. Standard Life was named best SIPP Provider at the recent Moneyfacts Awards
2006, as voted for by over 500 IFAs, and has also been named SIPP Provider of
the Year at the Financial Adviser Awards 2005. The Defaqto SIPP report named
Standard Life as top provider alongside James Hay.
3. Standard Life has created its own SIPP Customer Care Centre in response to
adviser research which identified poor customer service as the biggest frustration
with SIPP providers. 260 dedicated staff provide industrial strength service
and scalability.
4. Standard Life has a dedicated distribution channel focussing on private banks
and stock brokers.
5. Standard Life is one of the UK's leading pension providers with around two
million pension customers.
6. UBS wealth management has over 140 years experience in providing a range
of comprehensive services customised for wealthy individuals, ranging from asset
management to estate planning and from corporate finance to art banking.