IFA VERDICT: Tony Larkins, managing director, Beacon Wealth Management, cambridgeshire
“Our experience with Standard Life has indicated that it is doing this to protect all of its existing schemes but it seems it is only concentrating on large schemes and not looking to help existing smaller schemes. Time will tell.”
RIGHT TO REPLY: Graeme Bold, workplace proposition director, Standard Life, said:
The provider would help all clients, regardless of size and claimed that feedback on the new scheme had been largely positive, adding: “We will be contacting all of our clients well in advance of their staging dates to explain their responsibilities and how we can help. We have supported our largest clients through auto-enrolment for the past 10 months and we have now launched our five-stage proposition specifically for small and medium-sized enterprises and their advisers.”
