Today we’ve announced a new price for Elevate, making it one of the most competitively priced platform propositions in the market.
Having completed integration last year, Elevate is operating profitably and sustainably. We’re delighted that through this new pricing we can pass on the benefits of our progress to you and your clients.
We are committed to supporting the delivery of high quality financial planning. Following the acquisition of Elevate in November 2016, our number one priority was to ensure the platform was operating on a profitable and sustainable basis for the advisers and clients who use it.
As a result of the successful integration into the Standard Life business last year, we’ve realised significant operational efficiencies. With this achieved, we’re delighted that the benefits can now be passed onto clients in the form of a repriced proposition.
Effective from 1st April, the new pricing is a 25% reduction on current standard terms. Crucially, in making this change, Elevate remains on a commercially sound footing.
|Portfolio value||New charge||Current charge|
|£0 - £149,999||0.30%||0.36%|
|£150,000 - £749,999||0.25%||0.36%|
|£750,000 - £999,999||0.25%||0.33%|
|£1,000,000 - £1,499,999||0.20%||0.30%|
|£1,500,000 - £2,499,999||0.20%||0.25%|
|£2,500,000 - £4,999,999||0.15%||0.25%|
Charges are regularly reviewed and may be changed in the future.
Any new client accounts submitted between 26 February and 1 April will benefit from these terms. From 1 April, clients in this scenario will get the best of the new terms, or their existing terms, at every price tier.
David Tiller, Standard Life’s Head of UK Propositions, said: “I’m delighted we are able to announce this price review. This new pricing is a demonstration of Standard Life’s commitment to Elevate for the long term, and it was important to approach it in the right manner. We had to know that we had put in place the scalable, sustainable model required to underpin this really competitive price point.”
“With ‘A’ rated financial strength and proven service stability at a great value price point I believe Elevate is now the most relevant financial planning platform proposition on offer to advisers.”
The value of an investment depends on the value of the underlying assets and can go down as well as up.
Elevate’s progress has been recognised externally with the recent achievement of an AKG A Financial Strength Rating, an AdviserAsset Platinum Rating, Defaqto 5 Star and Gold Service Ratings. Elevate has joined Standard Life Wrap as the only other platform to hold all four of these top ratings.
“This price reduction demonstrates our continued commitment to platform advisers and our platform services. Our continued aim is to support advisers to build their businesses and deliver on their client expectations both today and into the future.”
Steve Owen, Head of Elevate, added: “The pricing review marks a milestone in Elevate’s journey. The efficiencies we have realised combined with great adviser support have given us a sustainable platform that can flourish over the long term. It feels right that we can pass on the benefits of its progress, in the form of competitive pricing, to advisers and their clients.”
We're committed to further enhancing Elevate over the coming months and years. We'll support your business and your clients with a service that meets their financial planning needs at a competitive price.
For more details, read the Q&A.