Schroders develop customer proposition with Standard Life Wrap

Schroders develop customer proposition with Standard Life Wrap

In a new and innovative relationship, Standard Life and Schroders are working together to offer Schroders’ direct customers advised and tailored solutions for personal financial management and portfolio planning.

The arrangement, which follows extensive and conclusive customer segmentation research, will begin with a tailored communication strategy to Schroders’ direct client base. The dual-branded, educational programme will provide quarterly budgetary and legislative updates as well as current market information. Through the campaign, all Schroders’ direct customers will have access to Standard Life’s Private Client Managers (PCMs) to help grow and manage their investments more effectively through the Standard Life Wrap platform. The new service is aimed at Schroders’ direct customers who do not have a relationship with another adviser.

Wrap allows Schroders’ customers to benefit from having their investment affairs managed on a single web-based platform, offering the potential for dramatic improvements in the organisation of their investments. By using Wrap, PCMs are able to spend less time administering a portfolio and more time identifying sound investment opportunities and asset allocations to become a single, trusted point of contact and source of advice for Schroders’ customers. PCMs provide advice on the products of the subsidiaries of Standard Life plc and selected external providers.

Standard Life Savings CEO, Geoff Towers, commented, “We have had an excellent relationship with Schroders for many years and we are excited to be taking this to the next level. We are confident that there is a strategic fit between our Wrap proposition and Schroders’ high quality direct client base, who have a very high degree of loyalty to them. This initiative also opens new routes to market for Standard Life Wrap, furthering our distribution capabilities and leveraging our technology expertise and support.

“Working closely with Schroders to help customers grow and manage their assets and feel confident about their future wealth is a win-win opportunity for all involved.”

Schroders UK retail managing director, Robin Stoakley, commented, “We are very pleased to be working with Standard Life to offer our direct clients this service. We have wanted to enhance our direct investor proposition for some time and this arrangement with Standard Life will deliver a real value added service to our direct clients.”

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