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Standard Life to go direct to customers

14 September 2010
Written by rosalind renshaw

David Nish, chief executive of Standard Life, has said the business will go direct to customers.

Nish said Edinburgh-based Standard Life would continue to support its long-standing association with IFAs but would also deal directly with consumers and use employers as a channel.

Nish said: “We’re doing something we’ve never done before, which is talk to customers. We don’t serve 70% of the market – those people who don’t use advisers. That’s daft.”

He also said Standard Life would move away from being an insurance firm into a long-term savings and investment business.

His comments follow the company’s announcement last month that it plans to launch an online investment service for the mass market this autumn.

“We must construct appropriate savings and investment vehicles to help people accumulate for retirement,” said Nish. “If we do this, Britain can be a genuinely exciting place for Standard Life to do business.”

Comments

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    Funny, not long ago, before the banks long standing recless behavious under the remit of the FSA imploded, advisers were generally handling 70% of applications. Funny how the perpattrator banking worms have turned again, inevitable amidst the chaos they've created and the need to survive at all costs. As advisers we know where we stand and where we are in the pecking order!

    • 14 September 2010 12:40 PM
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