Due diligence

Platform due diligence

The FCA have made it clear that all advisers using a platform must clearly document their thought process in platform selection and rationale for their decision. A crucial element of this process is conducting thorough due diligence to ensure that the chosen platform meets suitability requirements for each client segment.

We’re committed to helping advisers conduct best practice due diligence. We’ve produced the following guide to support you through the process, outlining the 5 key steps in our opinion.

The following documents highlight some of the main areas to consider and why they are important:

We're happy to provide more detail on request. For access to our full due diligence response please contact your aligned Account Manager. If you are new to Wrap, please contact us using the details provided at the top of this page.

Our AKG report

Financial strength is a major consideration in choosing a platform provider. AKG assesses financial strength using a consistent methodology and objective measures, allowing cross platform comparison.

We have been awarded an A rating (Superior) by AKG for the financial strength of our Wrap platform. Standard Life's Wrap and Elevate platforms are the first UK adviser platforms to have achieved this prestigious rating.

Our track record and reputation for strong customer service was also recognised by AKG with a five star rating.

AKG-Award video

Defaqto rating

Graham Jack from Defaqto explains the 2019 platform rating process and score criteria.

Defaqto-Award video

Transcript

Drawdown due diligence

The retirement landscape has changed. Since April 2015, pensions no longer end with purchase of an annuity. Instead they must now see a client through their entire retirement, meeting various needs from keeping capital for inheritance to providing a day-to-day income. Therefore, it's important you take steps to ensure you choose a provider with the knowledge and capacity to deliver retirement outcomes to suit your clients. 

The information on this site is for qualified financial advisers and must not be relied on by anyone else. If you are not an adviser please go to our customer website for more information about our products and services.

Building futures together

Access support materials designed to help you build your advice business and guide your clients towards a better future.

Interested in Wrap?

Call us on 0345 272 6622

Monday to Friday 09:00 - 17:30


If you're already using Wrap then call us on:

0345 279 1001
We're here to help Monday - Friday, 9am – 5.30pm.

If you're new to Wrap and want to find out more, please get in touch with your usual Standard Life contact or call us on:

0345 272 6622
We're here to help Monday - Friday, 9am - 5pm.

Calls may be monitored and/or recorded to protect both you and us and help with our training.


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Building futures together

Access support materials designed to help you build your advice business and guide your clients towards a better future.

Discretionary Managers

Advisers can access a range of managed portfolios from Discretionary Managers on Wrap.