Standard Life Wealth is to make its model portfolio service (MPS) available to other platforms, with Novia and Transact the first third-party operators to offer access, at 0.30%, including VAT.
Chief executive Richard Charnock (pictured) said Standard Life Wealth was looking to get its MPS onto more third-party platforms and was hopeful of reaching double figures. "That is the direction of travel for this industry," he added. "It is becoming more commoditised. "There is a big irony here as the private client sector grew up on the back of providing bespoke tailored portfolios. Actually if you look at most businesses, the majority of flows are coming from a commoditised solution that does not have a client manager involved in it and isn't tailored at all. We have to recognise tha...
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