At the general meeting on 25 June 2018, Standard Life Aberdeen plc shareholders voted to approve the sale of Standard Life Aberdeen’s UK and European insurance business to the Phoenix Group, as part of our enhanced strategic partnership with the Phoenix Group. The transaction is subject to regulatory approval and we will be working closely with the Phoenix group to finalise it. We expect it to complete the third quarter of 2018.
Standard Life Aberdeen will continue to provide the Wrap and Elevate platforms, adviser proposition and platform support services. Advisers managing clients on the platforms will continue to have the same experience post completion of the proposed deal as they do today.
We are committed to the platform market and supporting advisers. We will continue to focus on delivery of an excellent adviser and client experience. We have recently published what our platform development priorities are for the next 12 to 18 months.
Watch the video to learn more about our proposed strategic partnership.
Both Standard Life Aberdeen and the Phoenix Group are committed to helping you support your clients with their life savings. All off-platform product servicing will be provided by the Phoenix Group. You and your clients can expect to receive the same high standards of customer service post completion of the deal as you do today; as the servicing teams who look after you and your clients today will be the same people; they will simply move to the Phoenix Group.
The Standard Life brand is almost 200 years old and is one of the most recognised in the UK long-term savings industry. It has a strong reputation built on high levels of service. It is very important for Standard Life Aberdeen and the Phoenix Group that, through the strategic partnership, we maintain the experience expected of the "Standard Life" brand.
The transaction is subject to regulatory approval and we will be working closely with the Phoenix Group to finalise it. We expect it to complete in the third quarter of 2018.