CompaniesOct 31 2012

Standard Life platform assets surge 30 per cent in 2012

Search sponsored by
ByMichael Trudeau

Standard Life has reported a substantial 30 per cent rise in platform assets under administration in the first nine months of 2012 to £13.8bn, with the number of customers live on the platform jumping to 209,000.

In the company’s interim management statement for the three months to 31 October this year it also reported a 20 per cent rise in customers for its self-invested personal pension in the three quarters of 2012, as overall group assets under management also continued to grow.

Total Sipp customers rose 20 per cent in the three quarters to 152,800, with group AUM up 19 per cent to £19bn.

David Nish, chief executive of Standard Life, said: “In the UK, we are ready to assist our customers, advisers and employers with the significant regulatory changes already underway. The phased implementation of auto-enrolment has commenced and we are already offering fully RDR-compliant adviser charging on our platforms.

He added: “Uncertainty around the future of the eurozone and difficult economic conditions continue to impact consumer sentiment. However, we are confident that the ongoing focus on increasing assets and improving the efficiency and scalability of our business, will continue to drive improved returns for our shareholders.”