Standard Life has launched an “affordable” pensions-focused advice arm for existing customers about to reach the age of 55 with more than £50,000 in a defined contribution (DC) pension.
Standard Life Financial Advice will target clients who would not usually consider paying for advice and will aim to help provide the support they need at retirement, the provider said. Clients must be Standard Life customers, aged 54 and nine months, with a DC pot of at least £50,000. Standard Life said it will provide tailored financial advice for a single flat fee of £1,000, regardless of pot size. Optional annual reviews will cost £500 each. The financial advice arm launches with ten advisers and expansion plans dependent on demand. Standard Life Financial Advice Services CEO...
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