21.01.2008
Standard Life Enters Discretionary Investment Management Market



Standard Life plc today officially launched a new discretionary investment management business to further broaden its offering in the UK financial services market.

Standard Life Wealth will tailor investment portfolios to the individual needs of clients with at least £2m of investable assets (of which a minimum of £1m must be liquid).

The target market for the business is wealthy individuals, charities and small or executive pension schemes. The business will offer its services via IFAs, other professional advisers, and directly to market.

Standard Life Wealth will give its clients access to investment techniques previously only available to institutional investors in Standard Life Investments funds.  These ‘goals-based absolute return strategies’ focus on more accurate targeting of client requirements, and the management of their tailored-portfolios against an absolute return benchmark.

Whilst Standard Life Wealth is a stand-alone subsidiary of Standard Life plc, it will work closely with both Standard Life Investments and Standard Life’s UK Financial Services division. 

Standard Life Wealth Chief Executive Richard Charnock said:

“I am delighted to officially launch Standard Life Wealth.  I believe that we have an exciting proposition for clients and for IFAs.  Our investment expertise, client-focussed approach and competitive fee-structure will make us an important player in the discretionary investment management market.” 

Group Chief Executive Sandy Crombie added:

“Standard Life Wealth is another important development in our growth strategy and this is a market where we believe we can play an effective role.  I expect Standard Life Wealth to make a significant contribution to our business, as well as providing excellent service for our clients in the coming years.”

Ends

For further information please contact:

Barry Cameron – 0131 245 6165 or 0771 248 6463.

Notes to Editors

  1. Standard Life Wealth is a discretionary investment manager which can invest in all geographies and fund providers.
  2. Standard Life Wealth was launched on 2nd November 2007 and transacted business for the first time on 16th November 2007.
  3. Standard Life Wealth is not a financial adviser and does not offer advice on life and pensions or investment products.
  4. Standard Life Wealth will offer services to UK and overseas nationals who are resident in the UK.  Portfolios can be managed in Sterling, Euros or Dollars.
  5. The Standard Life Wealth offering will also be available via the Standard Life SIPP and Offshore Bond.
  6. Standard Life Wealth will provide its services on a single tariff regardless of distribution channel (i.e. an introduced client will get the same tariff as a direct client).  The fee is 1.375% of assets under management. 
  7. Richard Charnock was appointed as Chief Executive of Standard Life Wealth in February 2007.  He joined from Willams de Broe, a subsidiary of ING Group, where he was Chief Executive.  Previously he worked with Lloyds Bank.  A full CV is available on request. 
  8. Standard Life Wealth currently has offices at 1 George Street, Edinburgh and 30 St Mary’s Axe, London.

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