Standard Life will not apply for the ABI's Raising Standards Initiative kite mark for two years, wri...
Standard Life will not apply for the ABI's Raising Standards Initiative kite mark for two years, writes Simon Falush.
The mutual has sent a leaflet to intermediaries to explain why it is not going to take part in the project, which requires companies to meet a set of approved standards involving clarity of information in terms of the benefits and costs of products and informing investors regularly about their investments A spokesman for the mutual said: 'Our approach is to co-ordinate the necessary changes along with other important industry developments. This means that we will implement the necessary changes gradually over the next two years, and some changes have already been made. We will apply to use the quality mark when all the changes have been made.'
Bought plans in 1988 and 1989
To be added to model portfolio service
Launched 25 September