Standard Life partners with eight DFMs for 'Discretionary Plus' service

Standard Life Wrap has partnered with eight discretionary firms in a bid to enhance the service it offers advisers facing up to pension freedom challenges.

Standard Life said its Discretionary Plus service, designed to complement its existing DFM offering, will help advisers managing large volumes of portfolios which require regular income withdrawals. The eight discretionary managers are Brewin Dolphin, Brooks Macdonald, Charles Stanley, Financial Express, Investec, Quilter Cheviot, Standard Life Wealth and Vestra Wealth. These firms represent 61% of open-market discretionary assets on the Standard Life Wrap platform, which currently has 30 DFMs. Firms were selected based on their commitment to advisers, understanding of the requirem...