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Misys tells IFAs to stand by Standard business

Misys, the UK&#39s biggest IFA network, is telling its 7,000 advisers

there is no reason to stop placing business with Standard Life

despite the rough ride that the life company has had as a result of

bonus cuts and fall-ing stockmarkets.

A Misys research note on the life office&#39s position says although it

has recently been downgraded by Standard & Poor&#39s and has “nailed

its colours to equities,” it is still in a stronger position than

most of its competitors.

It says Standard is stable, with no further downgrades expected and

while rivals can expect to be downgraded in the future, it will

“regain its advantage over some of the companies it is now ranked

alongside”.

It ranks Standard on a par with some of the “bluest chips in the

industry,” including Norwich Union, Aegon and Axa, and ahead of

others such as Friends Provident and Scottish Mutual.

The note concludes: “There is no reason not to continue placing

business with Standard Life and we remain supportive of the UK&#39s

leading mutual.”

Misys research manager for life & pensions Dale Tranter says:

“Standard Life has lost quite a lot of money but they had more money

than most to lose in the first place.”

Venn Watson director Alistair Watson says: “I generally feel that the

likes of Standard Life have no problems as a company but I would not

place clients&#39 money in with-profits.”

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