Standard Life's reputation will have taken a hit as a result of its handling of the Sterling Fund issue as adviser confidence in the group has been seriously eroded despite its expected pay-out of £100m.
Standard Life has said it will make up £100m of lost value of its Pension Sterling Fund from its pre-tax profits. But senior pensions analyst at Hargreaves Lansdown Nigel Callaghan says advisers may well now question whether to put clients' money with the group in future. "There does seem to be a growing army of IFAs whose trust in Standard Life has been seriously eroded," Callaghan says. "I think there are a lot of IFAs who will now question whether they want to invest their very best valued clients with a company that has acted in this way." Around 97,000 investors were hit when th...
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