Standard Life has announced a review of its FundZone and Sigma fund supermarkets, in order to make them more "wrap-like".
The firm is to make its Sigma platform restricted with access to Standard Life funds only, and is exploring options for the larger FundZone supermarket.
The 4% of Sigma customers invested in funds managed by third parties will be given a range of options to update their existing arrangements early next year.
This will include moving to an unbundled model on the FundZone platform with access to discounted share classes.
Head of platforms David Tiller (pictured) said: "Advisers are looking for fund supermarkets to offer the type of services more commonly found on a wrap platform, including the ability to switch on more sophisticated functionality as and when they need it.
"Given that we already have scalable wrap technology in our stable, we are looking at how we can use the underlying system's architecture to offer a natural upgrade path for fund supermarket advisers looking to access that additional functionality."
He added the review would look at how the comapny can upgrade in an efficient way without asking advisers to re-register their clients' assets.
Joined as head of strategy, multi asset, in June
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