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Standard Life launches new client portal and reporting tools

28 August 2020

Standard Life today announces the launch of a number of new services on its Wrap platform, supporting advisers as well as improving the experience of their clients.

These enhancements are as a direct result of adviser feedback, an innovative Client Portal managed by the adviser and the first delivery of enhanced reporting capabilities making it easier to support their clients more effectively.

Client Portal

The new client portal offers clients a fully adviser permissioned service with a personalised online user experience. Supported by the latest digital standards, the portal allows clients to view their finances in a clear and easy to understand way. The adviser decides how much information is available to each of their clients using the portal. The portal can be configured to incorporate the adviser firm’s branding, contact details and preferred asset class tier view and return calculation.

Increased Data Security

Alongside the launch of the new portal, the platform has upgraded security and accessibility through a new market leading authentication process. The new system will offer the latest authentication security for clients when accessing their personal information on the platform.

Simplified Reporting

A new simplified report enables advisers to share a snapshot of their client’s account in an easy to understand format supporting both consistent reporting and ease of use. Advisers can use this with clients to provide key information at a glance, as well as supporting conversations, especially on a remote basis. This will be particularly useful for clients that don’t want all the detail or aren’t interested in accessing information digitally.

Noel Butwell, CEO of Standard Life added: “These developments are as a direct result of listening to and understanding what advisers need to support their businesses. The continuous investment we’re making in our Wrap platform’s reporting capabilities will help advisers manage clients in a world where demand for more personalised digital experiences continues to grow. I’m delighted we can continue to enhance the experience we can offer them and their clients in spite of the unprecedented times we find ourselves.

“The client portal and reporting improvements have been in the works for some time. These haven’t been developed in direct response to Covid-19, but the technology’s value has certainly been underlined by the pandemic. Today, clients want instant access to a clear a view of their finances. The technology allows them to do so independently, giving advisers more capacity in their business or time to support clients with more complex requests.”

The new tools are now available on Standard Life Wrap.

Wrap is Defaqto 5 Star and Gold Service rated and was voted by advisers as both the Best Platform Provider (AUA over £25bn) and the Intelliflo best platform service at Schroder’s Platform Awards 2019. It is also the only platform to have been AKG A rated for financial strength two years in a row.

Ends

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Notes to editors

About Standard Life

  • The Standard Life brand is almost 200 years old and today it is focused on being customers’ first choice for their life savings.

  • In the UK, Standard Life helps people with their life savings through its Wrap and Elevate platforms which are used by financial advisers to provide financial planning and wealth management services to their clients.

  • Standard Life Wrap and Elevate are the only platforms to have achieved an AKG A Financial Strength rating, an Adviser Asset Platinum Rating, a Defaqto 5 Star and Gold Service Ratings.

  • Standard Life Wrap won the following awards at the Schroders Platform Awards in September 2019:

    • Best Platform Provider (AUA over £25bn) Award for the sixth consecutive year, voted by advisers.

    • Leading platform for model portfolio services, voted for by discretionary managers.

    • Best platform service.

  • The value of investments can go down as well as up, and could be worth less than originally invested.