David Tiller, Standard Life’s head of adviser and wealth manager propositions, said: “There has been speculation around bringing the Elevate and Wrap propositions together, but research with advisers has confirmed that the […] Elevate platform should remain as a distinct proposition.
“This means both Elevate and Wrap can move forward with clear purpose and their own development agendas while, at the same time, benefiting from a shared infrastructure that enables the easy sharing of capabilities where this is appropriate.”
Standard Life acquired Elevate from Axa in May 2016, with the acquisition adding more than £9.8bn ($12.2bn, €11.5bn) in assets under administration to the investment firm’s UK adviser business.
Steve Owen, Elevate’s head of proposition said: “I am delighted that we now have clear direction for Elevate based on what advisers want. The strong commitment from Standard Life to respond to advisers’ needs and make the investment required for a sustainable future for Elevate.”
Standard Life asked advisers what they are looking for from platforms, in terms of their key priorities and requirements.