Major platforms: We will secure same prices as Standard Life

Graham Dow, head of investment group relationships at Standard Life, said he was “fine” with other groups getting access to the cheaper shares and said “we have never asked for exclusivity”.

He said it might be more difficult for some platforms to get access to the shares, though, if they did not already have preferential deals in place with groups previously.

Article continues after advert

He said: “We are only matching the commercial terms we already had with fund groups, but for others it may be that the new shares would be an increase on commercial terms and fund groups may not want to do that.”

Mr Dow also said Standard Life’s announcement yesterday was always meant to be a “progress report” and not the “end result” and said he was very confident all 15 groups would have deals signed towards the end of the year or in early 2014.