Standard Life CEO Paul Matthews said he is excited about the roll-out of the retail distribution review (RDR) next year, as he expects more advisers to use its fee-ready wrap and investment solutions.
Matthews said the group had not offered commission on new products since 2004 and the RDR's commission ban means it will be able to compete on a level-playing field with other providers.
"We think more than half of the adviser market today is still using a commission option," he said.
"I would like to think that, in 2013, a number of those will consider us once commission is no longer available. I am very excited about RDR."
He said many advisers would like to use the insurer's wrap and investment propositions but cannot do so because Standard Life does not offer a commission option.
Meanwhile, Matthews said the Standard Life platform would not follow in the footsteps of others and launch an execution-only offering. Instead, he said, it aims to expand its adviser base.
The insurer reported a 28% increase in group profit in 2011, although operating profits across its UK units slipped 6%. It attributed the decline to falling income and acquisition expenses.
The disappointing UK figures contrasted with a healthy set of results from its international operations, particularly Canada.
But despite the challenging UK operating environment, Matthews said the insurer is committed to the UK market.
Reports suggested rival Prudential is considering moving its headquarters out of the UK to escape from tougher capital requirements under Solvency II.
But Matthews said Standard Life has always been supportive of the European regulation - despite the fact the rules remain somewhat "vague" - and stressed the UK will remain the company's base.
"Whilst we are growing in Asia and have operations in Europe and Canada, we very much see the UK as our base going forward," he said.
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