Standard Life has signed a five-year platform distribution deal with Royal Bank of Scotland.
The deal sees Standard Life wrap deliver investment solutions through RBS, NatWest and Ulster Bank advisers from December 2012. A direct service will launch in 2013.
The products will include Isas, Sipps, onshore and offshore bonds.
Standard Life chief executive UK and Europe Paul Matthews says: “We are very pleased that RBS has chosen to partner with Standard Life to deliver RDR-ready financial solutions for its customers.”
RBS products and marketing managing director Lee Matheson says: “It is important for us at RBS to help our customers plan for a financially secure future. So I am pleased we’re announcing today that Standard Life will be a key component of our financial planning offering going forward.”
In June, RBS announced it was scrapping its IFA arm and moving to a restricted advice model as part of an overhaul of its advice service ahead of the RDR.
The bank also announced it was cutting 618 jobs from its financial planning service, reducing the financial planning arm by half. The bank says its post-RDR offering will also create 351 new roles.