The company said it had made a “series of enhancements” designed to support rising numbers of clients using the pension freedoms.
Alastair Black, head of financial planning propositions at Standard Life, said: “The enhancements we are making are a direct result of adviser feedback and will support efficiencies and de-risking for adviser businesses. We are seeing the focus shift more and more towards retirement planning, hence this has been the focal point of our activity.”
David Tiller, head of adviser and wealth manager propositions at Standard Life, said: “With pension freedoms, retirement has become even more complex. An efficient process needs a lot of moving parts working well together. We have the end to end process, now we are working at making it even better, to make the adviser’s job that bit more straightforward.”
Among the key changes for advisers that the firm listed were:
• Adviser Charging can now be taken for new and existing Bonds from within the International Portfolio Bond product. The firm claimed this was ‘unique’ in facilitating flexibility of income in retirement consistently across all tax wrappers on the platform
• Changes around tailored drawdown and online quotes
• Recording of nominations online extended through integrating into the online review process
• Lifetime Allowance percentage tool for on-going management of drawdown
• A new portfolio performance report offering a snapshot of the current portfolio and giving greater choice to advisers on the different reports available for clients.