View more on these topics

Standard Life plans adviser benchmarking service

Standard Life is planning to pilot a system through which advisers can benchmark themselves against their peers. 

The free peer comparison service will ask a series of questions designed to identify an advice firm’s weaknesses. 

The provider says the questions will be used to try and identify competence levels in skills such as communication and qualifications. Scores will be used to produce a benchmark comparison against other advisers.

It says the benchmarking question process will initially be done face-to-face but could be made available online depending on take-up.

It adds the benchmarking system could be expanded in future to include categories such as profitability and turnover.

Standard says its business services tem will offer support to firms that identify particular weaknesses using the benchmark. 

Head of business services Innes Miller says: “We suggest that if the questions are answered by a number of people across the business then you can build up a 360 degree picture of what the business looks like.”

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    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

    Email: customerservices@moneymarketing.com