Standard Life is a savings and investments provider, with assets under administration totalling more than £232bn, as at June 2013. The company’s half-year results for 2013 show an operating profit of £304m, an increase of six per cent compared to the first six months of 2012.
This increase in profit and assets has been aided by Standard Life’s acquisition of Newton Private Clients, with Newton’s wealth arm having around £3.6bn of assets.
As a result of the Retail Distribution Review, Standard Life has invested £20m in developing its platform technology. The Standard Life wrap is available to clients through an adviser. The wrap was recently selected by AWD Chase de Vere as the preferred platform for its Premier clients, with investable assets of £375,000 or more.
Standard Life has begun adding clean share classes, and aims to move to a clean-only model from the beginning of the 2014 tax year.