Standard Life has doubled the number of fund groups offering their “superclean” funds on the newly-purchased platform, bringing the total number of discounted funds to 350.
Six major fund groups, who account for nearly one fifth of the assets in the UK market, have now committed to adding more than 150 discounted funds to the platform.
Old Mutual Global Investors, BNY Mellon, Neptune, and Standard Life Investments have all agreed to make their funds available at a lower price.
This comes just a week after Standard Life completed its takeover of Elevate.
This is the first tangible benefit of bringing the two platforms together Steve OwenDavid Tiller, Standard Life’s head of adviser and wealth manager propositions, said he was pleased to get these deals in place for Elevate so quickly.
“As a platform provider it’s our job to represent the interests of the adviser businesses we work with, including leveraging the collective buying power to the best possible deals for advisers and their clients.”
He said Standard Life is in talks with number of other fund groups and hopes to have more deals confirmed over coming weeks.
Steve Owen, head of platform propositions, said today’s announcement is the “first tangible benefit” of bringing the two platforms together.
“It will see Elevate advisers able to offer significant savings to their clients and is a really meaningful way to demonstrate our commitment to the Elevate platform and its users.”
