SJP and Standard Life 'biggest RDR winners'

The broker upgraded both companies to a "buy" rating, following impressive performance, and in particular, SJP's "unique" sales force. It praised Standard Life for abandoning commission in 2006. However, the future for many life companies was uncertain, said analyst Kevin Ryan. "The outlook in the UK is clouded by the introduction of RDR, economic torpor and the poor investment returns that are the inevitable by-product. "The ending of life companies paying commission to IFAs and other sales people should help to lower new business churn and improve margins. Adjusting business m...