Parmenion tells advisers it’s ‘business as usual’ after Standard Life Aberdeen merger

The merged company owns three platforms: Parmenion, Standard Life Wrap and Elevate, but is promising to keep ring-fencing.

Parmenion has reassured advisers the business will remain ring-fenced in the newly merged Standard Life Aberdeen and it will be continuing with “business as usual”.

The discretionary fund manager and platform was acquired by Aberdeen Asset Management in a deal that completed in 2016.

The merger between Standard Life and Aberdeen completed on Monday.

In an article sent out as part of Parmenion’s adviser insight bulletin, the business says: “For us here at Parmenion, the message remains the same – business continues as usual as we grow our business and develop our capabilities.”

Standard Life Aberdeen co-chief executive Martin Gilbert has also commented on Parmenion’s future: “A key factor in our decision to acquire Parmenion was securing an agile business with the potential to create transformational change in the market. This led us to ring-fence the company from the rest of the group and back Martin Jennings, with his senior team, to drive the business forward.”

Standard Life Aberdeen hints at ‘combining platforms’ under merger

Gilbert adds: “I am delighted to say that approach has proved to be the right one, as evidenced by their record breaking growth. Following the merger between Aberdeen and Standard Life, there are no plans to change this.”

In the article, Parmenion calls Gilbert’s comments “extremely positive”. 

Following the merger, Standard Life Aberdeen now owns three platforms: Parmenion, Standard Life Wrap and Elevate.

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