Standard Life plans to base its new investment proposition based on a range of guided funds and a risked-based funds range.
The online investment proposition will launch in October for financial advisers and will be rolled out later to consumers. The core of this online service will be a guided architecture range of fund selected by Standard Life and risk-based funds which could resemble Skandia’s Spectrum funds.
Standard Life will launch a ‘innovate goal based planning solution’ in 2011 to help financial advisers develop personalised plans for clients as part of this new service. Fund of hedge fund manager Aida Capital could play a key part in the fund selection for this service.
Standard Life acquired the fund of hedge fund manager in March and intends to use Aida Capital to improve its fund of fund selection and the management of its absolute return funds.
‘As we move closer to the retail distribution review (RDR), investment solutions and processes are coming under increasing scrutiny,’ said Iain McLeod, head of investment propositions at Standard Life in a email to IFAs. ‘In response to this, we need to provide more than a wide range of investments. We must provide access to the tools and techniques that advisers will need in the run-up to RDR and beyond.’
Standard Life revealed details of its new proposition, which would give advisers access to 'simpler, more appropriate, investment solutions' in its half-year results. Standard Life chief executive David Nish (pictured) said this service would help IFAs and consumers build investment portfolios.