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Standard holds off on wrap sales drive

Standard Life will not begin actively managing its wrap until early next year with its sales push focusing on its new FundZone platform in the short term, Money Marketing understands.

Around 100 IFA firms are thought to be using the wrap, which Standard says will be made available to the wider market after the new year.

There is no specific date in mind to switch from promoting FundZone to promoting the wrap but Standard says the state of the market dictates that the fund supermarket platform is an easier starting point for IFAs to administer their clients’ assets using the technology.

Standard says the onus is on IFA firms to move their business models to a wealth planning proposition rather than a transactional IFA set up and embrace wrap.

It believes most advisers will use FundZone as a stepping stone to moving to a full wrap anyway.

National sales manager Nick Blake says: “We took a fairly deliberate approach to certain firms that wanted to work with us and change the way they were working to move towards adopting a full wrap. We will continue to roll it out to the market but really it is up to the advisers to prove they are willing to work with us and that they meet the criteria.”


GE Life rebrands as Tomorrow

GE Life and GE Pensions has rebranded as Tomorrow following Swiss Re’s takeover of the life office last October.

Barings set to offer Euro equity income fund

Barings is set to become the fifth fund firm to set up a European equity income fund.It is following Newton, Resolution Argonaut, Jupiter and 2CG into the sector, citing growing investor demand for income products and rapid dividend growth on the Continent as the driver behind the launch.The Barings fund will be different from its […]

The Budget’s silver lining

Although the Budget was mainly a con, or tinkering at best, the reduction in corporation tax will be of benefit to the UK stockmarket and, in particular, equity income funds.

What goes around…

Endowments are a good example of how we can get it so horribly wrong.


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