Standard Life Enhances Active Money SIPP

LONDON, Nov. 3, 2010 /PRNewswire/ -- Standard Life has introduced two new enhancements to its active money Self Invested Personal Pension Plan (SIPP) in response to adviser feedback.

In addition to its Commercial Property Team a new SIPP Specialist Investment Team will help advisers support high net worth clients with complex investment needs. Where clients are considering a specialist investment in their SIPP, advisers will now be able to contact this 12-strong team to discuss suitability and options. The team will then be able to give a comprehensive assessment the same working day.

In addition, Standard Life has also made improvements to the active money SIPP property service. Standard Life has increased the total number of lenders on its panel to 10 giving customers more choice. The team understands the importance of getting a quick decision and has a speedy process in place to ensure this happens.

In April this year, Standard Life added another property manager to its panel to give customers more choice and competitive pricing.

The savings, assurance, investment and mortgage provider already offers the majority of types of property investment, including stables, petrol stations, garage workshops and car showrooms. The company now also accepts land for development.

Customers can also now use their own solicitor for added peace of mind.

Alistair Hardie, head of SIPP at Standard Life, said, "These enhancements are among a number of developments we have made to our SIPP this year. Other improvements included introducing a range of low cost funds and more flexible adviser remuneration. This allows advisers to have flexible propositions which meet their needs and those of their clients.

"More improvements are on the way to make sure our SIPP remains innovative, competitive and market leading."

A SIPP is a personal pension but with added flexibility. Unlike most traditional personal pensions, a SIPP offers many different investment options. It puts clients in control of their money and their lives. SIPP's greater flexibility and wider investment freedom requires active investment management and investment advice, due to the higher risks of some of the available investments. As with all investments, the value of the fund clients have invested can go down as well as up and returns may be less than the sum invested. Further SIPP information is available on Standard Life's website.

About Standard Life:

Standard Life is a leading long term savings and investments company headquartered in Edinburgh and operating internationally. Established in 1825, Standard Life provides life assurance and pensions, investment management to over 6.5 million customers worldwide.

Inspired by life, Standard Life provides meaningful solutions, flexibility and support to build our customers' confidence in their future wealth. Standard Life operates in the United Kingdom, Europe, North America and Asia Pacific, and globally with Standard Life Investments.

SOURCE Standard Life