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Standard Life and RBS join forces for distribution deal
Markets
by Michelle Abrego on Oct 04, 2012 at 12:01
Standard Life has struck a deal with Royal Bank of Scotland (RBS) for it wrap to power the bank's execution-only service and to provider a range of products for its bancassurance arm.
The Standard Life wrap will power RBS’s non-advisory direct to consumer online platform with branch advisers having access to the wrap from December 2012.
Standard Lifewill also provide a range of retail distribution ready (RDR)-ready products including its ISA, Sipp, onshore and offshore bonds.
Customers will be able to invest in RBS, NatWest and Ulster Bank investment funds using Standard Life tax wrappers with assets being managed by Standard Life Investments.
Paul Matthews, Standard Life UK and Europe chief executive, said: 'We are very pleased that RBS has chosen to partner with Standard Life to deliver RDR-ready financial solutions for its customers.
Managing director of RBS UK retail products and marketing, Les Matheson said: 'It's important for us at RBS to help our customers plan for a financially secure future.'
'So I'm pleased we're announcing today that Standard Life will be a key component of our financial planning offering going forward. With Standard Life's proven capability in platforms and investment management we're well placed to help our customers with their financial planning.'
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2 comments so far. Why not have your say?
Podney
Oct 04, 2012 at 20:30
God help their customers,more evidence that SL don't know what they're doing and don't know where their allegiance should lie
report thisTeddy
Oct 05, 2012 at 18:57
This has been done before when SL tied up with Bank of Scotland - it was not an unqualified success then and unlikely to be now with RBS.
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