Standard Life pulls in £125m for new wrap

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Standard Life's discretionary service wrap has seen £125m of inflows since it launched in April this year, the group has said.

More than 100 adviser businesses have chosen a discretionary manager to look after client portfolios on the platform. The number of managers available has risen from 11 to 18 since launch.

The first managers include Brewin Dolphin, Charles Stanley, Frontier Investment Management, Investec Wealth & Investment, Liontrust, Quilter Cheviot, Sarasin & Partners, Seven Investment Management, Vestra Wealth and Standard Life Wealth.

Standard Life platform propositions head David Tiller said the demand for discretionary services remained considerable: "You have more advisers wanting to use the investment skills of quality discretionary managers, and we are seeing the move to a platform-centric model that lets advisers retain flexibility, transparency and control.

"As the UK’s wealth is increasingly moving to an older demographic, the combination of tax optimisation and investment strategies is vital."

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