21 Jan, 2008
Published: 11:26 Monday 21 January 2008
By: Michelle McGagh, News Reporter
Standard Life has entered the wealth
management arena with a discretionary investment service.
The newly formed Standard Life Wealth arm, which is a stand-alone
subsidiary, will work with clients with at least £2 million
of investable assets, of which £1 million must be liquid, to
tailor investment portfolios.
Clients will be given access to investment techniques previously
only available to institutional investors in Standard Life (SL.)
investment funds. The 'goals-based absolute return strategies'
focus on more accurate targeting of client requirements and the
management of their portfolios against an absolute-return
The life company will be targeting wealth individuals, charities
and small executive pension schemes through IFAs, professional
advisers and directly to market.
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 that the wealth arm was
part of the company's growth strategy. '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.'
It will work closely with both Standard Life Investments and
Standard Life's UK Financial Services division.