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News Release from: Standard Life Bank | Subject: Satisfaction index
Edited by the Insidemoneytalk Editorial
Team on 05 March 2008
Standard scoops top ratings from Defaqto
Self Invested Personal Pension (SIPP) has retained a 5 star rating
Capital Investment Bond has retained a 5 star rating: International Bond awarded a 4 star rating Standard Life one of only two providers who have received a 5 star rating for both onshore Investment Bond and SIPP
This article was originally published on Insidemoneytalk on 3 Apr 2007 at 8.00am (UK)
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Standard Life Wrap is the platform with the highest satisfaction level.
Standard Life has been awarded a Five Star rating for both SIPP and the Capital Investment Bond by Defaqto, an independent company which analyses a wide range of financial products for advisers and consumers.
To achieve a rating, each product is scored against a set of features and benefits criteria, which, where appropriate, include elements of costs.The strength of the portfolio International Bond, launched in February 2007 by Standard Life International, was recognised with a 4 star rating.
Further reading
Standard Life announces expansion of trust range
Standard Life has announced the expansion of its trust range with the launch of a Discounted Gift Plan Absolute Trust, giving more choice of trusts for advisers and clients.
New funds available on Standard Life Bonds and Pensions
Standard Life has announced that a further 14 funds have been added to its Life and Pensions range.
In addition, the Investment Service Report 2008, Defaqto's third report on service in the UK investment market, rated the Standard Life Wrap as the platform with the highest satisfaction level in the industry.
The Satisfaction Index based on responses from 500 investment advisers, puts Standard Life in the lead with 93%.
FundZone, Standard Life's fund supermarket, came fourth for satisfaction with an index score of 84%.
The survey looked at provider administration, image and reputation, commission administration, reporting, product design and management and e-business.
Defaqto's findings showed that 23% of advisers write more than 80% of investment bond business via a platform compared with 18% of advisers last year.
Peter Joshi, Managing Director Marketing, Standard Life said: "This is a great achievement and provides independent confirmation of the strength of our propositions.
This has been built on collaboration with advisers as we develop and enhance our offering.
"We're aspiring to the first six star rating as we roll out more SIPP enhancements later this year." Commenting on the success for the platform proposition, Geoff Towers, Chief Executive, Standard Life Savings Limited said: "Standard Life successfully launched its much anticipated Wrap platform in May 2006.
The service was designed to help adviser firms deliver a superior customer experience and to build a new and enhanced business model.
"FundZone, the company's mutual funds supermarket, was launched in February 2007 and delivers a very flexible service for advisers and their clients.
Following this achievement, we will continue to enhance and develop our market-leading platforms to ensure that we successfully remain at the forefront of innovation in service and technology.".
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