Standard Life will abolish paper commission statements for advisers as it rolls out a replacement service online.
From October 2009, advisers will be able to view and download their statements via Commission Service on adviserzone in stead of receiving paper reports.
Standard Life says the benefits of viewing statements online comprise:
- Instant access to commission statements following a settlement- and no unreliable postal service
- Over a year's worth of statements online
- A full breakdown of commission types paid
- The ability to download statements in PDF or CSV formats giving the capability to view, sort and save
The firm says the move online will also help boost its green credentials as commission statements sent to advisers amount to 1,800,000 sheets of paper, or 200 trees annually.
Standard Life is taking a phased approach to the online initiative and the first group of advisers, including Oval Financial Services, received their statements online in May.
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