View more on these topics

Standard is still on the lookout for deals

Standard Life UK financial services chief executive Trevor Matthews says the company is not ruling out further acquisitions after its failed Resolution bid.

He says he is disappointed the deal did not work out but stresses Standard’s core focus is on organic growth.

Matthews says: “I am sorry it did not work out with Resolution but it was not integral to our growth strategy. We will just continue doing what we are doing, keeping an eye out for future opportunities.”

He says Standard will not be rushed into a deal as consolidation is difficult in the UK life market due to problems with legacy systems and providers’ different business mixes.

He says: “There are synergies with a number of different combinations of firms but the synergies are not as great as people might have thought, which is a problem in this market. There is a solid history of companies putting things together and that not working.”

The emergence of wrap is another key driver in the life market, says Matt-hews. He believes the traditional life company in the UK will disappear due to the growing dominance of wrap. He says 57 per cent of money placed through Standard’s wrap is new money.

Matthews says: “It happened Down Under, the traditional insurance company has sort of disappeared as everyone now is using a platform. Sometimes they do not even manufacture one of their own, they borrow it from someone else.”


Shadow of the sums

It is important to get your sums right. Whether you are
The Personal Accounts Delivery Authority faces this challenge next year. It was established to design and implement the new personal accounts scheme and the forthcoming Pensions Bill will give it the powers to start taking decisions like hiring contractors and setting the level and shape of the personal accounts charging structure.

Axa’s Steve Muir leaves following restructure

Axa media relations manager Steve Muir has taken redundancy following a restructure of the external communications team. Under the restructure, a number of new roles were created but Muir, who has been with Axa for 20 years, opted for redundancy.A spokeswoman for Axa says: “No one else is leaving. Under the restructure we have aligned […]

Golden autumn for Positive Solutions

Positive Solutions had its strongest-ever October and has reported 10.7m in commission and fees received for the month. This follows a record September for the firm and PosSol says it is on track to hit its forecast annual turnover of 120m this financial year.

FSA chief to send out RDR olive branch to IFAs

FSA chief executive Hector Sants will send out a conciliatory message to IFAs tonight telling Aifa members he is well aware of their RDR concerns and acknowledging the regulator has not made its intentions clear at times.

Finding security in bond markets

Martin Foden, head of credit research at Royal London Asset Management, explores the role of secured bonds, considering the impact of default and the characteristics of secured bonds versus supranationals and highlighting some examples. He also examines the evolution of the credit market and rating agency inefficiencies. Read the article in full: The value of […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm