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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 benchmark.

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.

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