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Standard Life boss: ‘No reason’ for advisers to abandon Elevate platform

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Standard Life says there is no reason for advisers to abandon Axa Elevate as it completes its acquisition of the platform.

The acquisition was announced in May and will almost double Standard Life’s customer base.

Speaking to Money Marketing, Standard Life adviser and wealth manager propositions head David Tiller says the completion of the deal brings an end to a period of “prolonged uncertainty” for advisers.

He says: “I don’t think there is any reason for advisers to be moving off the platform…I hope and believe that advisers will now feel reassured that the platform is in ownership of a business that is committed to the platform market in the UK and willing to invest and build and develop to proposition to support them.”

Tiller says Standard Life has not yet made a decision about fees but is in discussions with advisers about the service.

He says: “We have not reached a decision about fees or detailed shape of proposition. The reason for that is because we need to truly understand what advisers on Elevate want.

“In acquiring Elevate we are entering into relationships with a whole group of advisers who have picked a different platform for different reasons. We want to understand what their reasons were, what they want, what is the most important thing to them. Clearly price is one dimension, functionality and service levels are other dimensions.”

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