Standard Life invests £30m in platform

The insurance giant said it was spending the money to make sure it kept pace with the changes in the pension and retirement investment market.

The move will aim to streamline the delivering of drawdown and withdrawal management, improve integration with adviser applications and enhanced reporting and alerts for advisers.

Standard Life head of adviser propositions and strategy David Tiller said: “With the increasing degree of uncertainty around the future of some platforms in the market we feel it is important that Standard Life provides a clear demonstration of its commitment to the adviser market.

“Our aim is to increase the capacity of adviser firms to manage sophisticated retirement investment, income and drawdown solutions by at least 50 per cent.

“There are many ambitious adviser businesses out there that can see the opportunity created by pension freedoms. They shouldn’t be held back by their platform technology being configured to support only simple retail accumulation product sales.”