We're pleased to confirm that we've reduced and simplified Wrap charges, and have now introduced our new innovative ‘Drawdown Price Lock’.


We’ve seen a fundamental shift in the types of advised clients on the platform and that’s why we’ve redesigned our pricing to help meet your clients’ changing retirement needs.

We’re committed to delivering client value for life on our award-winning Wrap platform and this progressive approach to pricing will help provide more opportunities to build long-term and profitable relationships with your clients.

Our pricing review, alongside the launch of innovative investment solutions such as Individually Managed Accounts (IMA), positions Wrap as a leading retirement planning and wealth management platform.



What we’ve changed

  • We’ve introduced a new drawdown price lock for clients in retirement or about to access their pension – this is the first of its kind in the UK
  • We’ve simplified our pricing structure by reducing our headline rate and removing two tiers
  • We’ve reduced the SIPP Product Administration Charge (PAC) from 15bps to 5bps
  • Individual wealth clients with £1m or more in platform eligible assets can benefit from a 15bps flat fee



Introducing the drawdown price lock

We want to reward your loyal clients by giving them the option to lock in the best platform charge when their assets are at their highest. This means the SIPP percentage platform charge they pay in retirement never goes up. If your client has assets elsewhere, you can choose to consolidate them before locking your client in. You’ll also have flexibility to reset the price lock every 12 months. The price your client locks in is based on pension and non-pension platform eligible assets, including any assets held within a family linking arrangement.  



Client case studies

Take a look at our case study scenarios to help identify which clients could benefit from the Drawdown Price Lock.



A reduced and simpler pricing structure

We’ve simplified the Wrap pricing tiers from six to just four. The Wrap headline rate has also reduced. The starting rate for our platform charges has reduced from 0.40% to 0.35% across all of our products. This means platform charges for most clients paying the headline rate will now reduce. There are further price reductions in the higher tiers for your wealth clients, to help you build valuable, long-term relationships. Take a look below at the new Wrap pricing structure that is now in place.

Platform Eligible Assets

Platform Charge
All products

£0 to £249,999.99


£250,000 to £749,999.99


£750,000 to £999,999.99


£1m plus



Here’s a reminder of the previous Wrap platform charges

Platform Eligible Assets

Platform Charge
All products

£0 to £99,999.99


£100,000 to £249,999.99


£250,000 to £499,999.99


£500,000 to £749,999.99


£750,000 to £999,999.99


£1m plus




Product Administration Charges

  • Product Administration Charges apply if your firm holds less than £75m in platform eligible assets on our Wrap platform
  • We’ve reduced our SIPP Product Administration Charge from 15bps to 5bps. This means that clients will never pay more than 40bps for their combined platform and product administration charge for their Wrap SIPP
  • Product Administration Charges for Wrap Onshore and Offshore Bonds remain unchanged



More value for wealth clients

Now all individual clients with £1m or more in platform eligible assets can benefit from a 15bps equivalent flat fee. Your clients may be on varying adviser terms and that’s why you have full control to decide which clients could benefit. The 15bps equivalent flat fee only applies to individual assets reaching £1m and will not apply to family-linked assets over £1m. Take a look at the table below for full details.

Platform Eligible Assets

Platform Charge
All products

£0 to £199,999.99


£200,000 to £999,999.99


£1m plus


The net effect of these tiers is equivalent to paying 15bps on £1 million of Platform Eligible Assets.

Charges are regularly reviewed and may be changed in the future.


Noel Butwell, CEO of Standard Life Savings said: "We take a long term view on our pricing, ensuring fees are set at a sustainable level that aligns our interests with our adviser partners and their clients.

“This is why, as we see the impact of Pension Freedoms emerging through an ever increasing proportion of clients taking income drawdown, we focused hard on ensuring our new fees addressed the challenges faced by these clients in retirement.

“The pricing review is a result of continued growth and efficiencies we’ve generated across our platform business and means we’re able to pass on savings in the form of reduced prices for advisers and their clients. Advisers that use Wrap can be confident our new fee structure means they can deliver great value for life for clients consolidating and entering drawdown.

"We also wanted to go further, which is why we introduced the Drawdown Price Lock. Most platforms, including Wrap, have traditionally operated a model designed to reward savers where fees fall as the client’s pot increases. Unfortunately, this means as clients start to use their savings to fund their retirement, that percentage goes back up as money is withdrawn creating an increasing drag as their pot declines.

“From April 2020, advisers can prevent this happening by ‘locking in’ the fee their clients pay when their percentage rate is at its lowest. That way, those who invest with Wrap will benefit from lower fees all the way through retirement, and not just at outset.”

Noel Buttwell

Noel Butwell, CEO of Standard Life Savings

The value of an investment depends on the value of the underlying assets and can go down as well as up, and your client could get back less than they paid in.

Find out more

Speak to your usual Standard Life contact for more details on the pricing changes. If you don’t currently have an aligned Standard Life contact, please call 0345 272 6622 to arrange a call back. Calls may be monitored and/or recorded to protect both you and us, and help with our training. Call charges will vary.

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