Standard Life Wrap platform

Standard Life Wrap platform are pleased to announce that we're reducing and simplifying charges while also introducing a new innovative ‘Drawdown Price Lock’ option by the end of April 2020. 

We’ve seen a fundamental shift in the types of advised clients on the platform and that’s why we’re redesigning our pricing to help meet your clients’ changing retirement needs.

We’re committed to delivering client value for life on our award-winning Wrap platform and this progressive approach to pricing will help provide more opportunities to build long-term and profitable relationships with your clients.

Our pricing review, alongside innovative investment solutions such as Individually Managed Accounts (IMA), positions Wrap as a leading retirement planning and wealth management platform.

These changes will apply by the end of April 2020. We'll let you know the actual date nearer the time.

Introducing the drawdown price lock

We want to reward your loyal clients by giving them the option to lock in the best platform charge when their assets are at their highest. This means the SIPP percentage platform charge they pay in retirement never goes up. If your client has assets elsewhere, you can choose to consolidate them before locking your client in. You’ll also have flexibility to reset the price lock every 12 months. The price your client locks in is based on pension and non-pension platform eligible assets, including any assets held within a family linking arrangement.  

Noel Butwell, CEO of Standard Life Savings said: 
“The pricing review is a result of continued growth and efficiencies we’ve generated across our platform business and means we’re able to pass on savings in the form of reduced prices for advisers and their clients. Advisers that use Wrap can be confident our new fee structure means they can deliver great value for life for clients consolidating and entering drawdown.”

The value of investments can go down as well as up, and could be worth less than originally invested.