Standard Life UK has reported a 28% increase in pre-tax profits for the first half of the year, with strong growth in assets under management and fee-based revenue.
Pre-tax profits increased by 28% to £161m, up from £126m last year while fee based revenues rose from £325m to £349m. Standard Life Investments' pre-tax profits rose 37%, from £68m to reach £93m while third party net inflows reached £7.1bn. Standard Life chief executive UK and Europe Paul Matthews said the Retail Distribution Review (RDR) played to the strengths of the advisers the group does business with. He said: "We were well prepared for the regulatory changes introduced over the last year in the UK and we're starting to see the results we anticipated. Our strategy and high q...
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