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Standard Life targets pension freedoms with retirement-focused DFM launch

Standard Life Wrap has launched a retirement-focused DFM offering for advisers as the platform looks to boost its pension offering following the Budget reforms.

The platform has selected eight discretionary managers for its ‘Discretionary Plus’ proposition, which will cater specifically for advisers dealing with the retirement market.

Details of charges have not been disclosed, although a Standard Life spokeswoman says the firm has secured “very good deals” with the DFMs.

Standard Life head of adviser platform propositions David Tiller says: “Many advisers have told us they are reviewing their central investment proposition to ensure they are well placed to support clients in retirement. In particular, CIPs are being reviewed with sustainability of income in mind rather than maximising growth.

“I also believe advisers are considering the capacity issues that may arise from the massive increase in client demand arising from the Chancellor’s pension freedoms. What we are seeing is advisers bolstering their processes to meet this demand, which is extremely encouraging.

“We are also seeing more advisers wanting to access DFM expertise on their own platform to maximise control, fee transparency and flexibility by bypassing the need for separate custody arrangements and additional contractual arrangements.”

The eight firms selected for the Discretionary Plus offering are:

  • Brewin Dolphin
  • Brooks Macdonald
  • Charles Stanley                                
  • Investec Wealth
  • Financial Express
  • Quilter Cheviot
  • Standard Life Wealth
  • Vestra Wealth                                    

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