SLA disputes Lloyds 'right' to pull £109bn Scottish Widows portfolio

Not 'material competitor', it claims

Natalie Kenway
clock • 3 min read

Standard Life Aberdeen (SLA) has disputed Lloyds Banking Group's request to terminate asset management arrangements between the two companies, which would lead to the withdrawal of a £109bn Scottish Widows portfolio.

SLA is arguing it not in "material competition" with Lloyds as a result of the merger between Aberdeen and Standard Life On 15 February, Lloyds Banking Group announced plans to withdraw £109bn of assets currently managed by SLA for Scottish Widows as the bank had been reviewing its Scottish Widows Wealth business including the legacy assets run by Aberdeen entities, and as a result, it has given SLA a 12-month notice period for the termination of current arrangements. Lloyds said the assets were now being run by "a material competitor" following the merger of Standard Life and Aberdee...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on UK

Financial happiness reaches two year high - Dynamic Planner
UK

Financial happiness reaches two year high - Dynamic Planner

After July fall

Jen Frost
clock 11 September 2026 • 2 min read
Phillip Wickenden: The Budget before the Budget
UK

Phillip Wickenden: The Budget before the Budget

America’s $40trn debt milestone is already narrowing the choices available in Britain’s October Budget. Advisers should watch how that pressure travels from the bond market into mortgages, tax and client plans, writes Phillip Wickenden.

Phillip Wickenden
clock 26 August 2026 • 5 min read
Why Andy Burnham must harness the power of long-term policy to give investors confidence
UK

Why Andy Burnham must harness the power of long-term policy to give investors confidence

'It’s fair to say it's been far livelier in Westminster this summer than usual'

James Alexander
clock 06 August 2026 • 4 min read