Standard Life improves wrap charge tools

Intermediary criticism of the Standard Life wrap platform at launch suggested it was very difficult to show the charging structure around wrap recommendations and would therefore be difficult to prove whether the intermediary had given best advice. As a result, Standard Life has built a ‘ready reckoner’ – known as the effective charge calculator – onto the front of its wrap system, following user feedback, which now reveals the selected funds’ annual management charges and how this fits into the overall cost of the wrap when a fund discount is applied, says Nick Blake, head of wrap sales. ...