What is the strategic partnership?

Standard Life Assurance Limited, formerly part of Standard Life Aberdeen group, became part of the Phoenix Group in September 2018. Both groups have been working together in partnership to continue to deliver the communications, service and experience customers expect and value from Standard Life.

Since then, most customers will not have experienced anything different. There was no change made to customer policies, communications continue to be branded Standard Life and it’s still Standard Life you call, if you need to get in touch.

What is happening?

The strategic partnership is becoming simpler, with the relationship between Standard Life Aberdeen and Phoenix Group focusing on providing high- quality asset management services. Phoenix Group will continue to partner with Aberdeen Standard Investments so customers can benefit from their investment expertise.

As part of the simplified partnership Phoenix Group will take full ownership of the Standard Life brand and will continue to invest in it. Standard Life Aberdeen is undertaking a branding review and will share more with customers as soon as possible.

Standard Life Aberdeen will acquire two Standard Life Wrap platform products from Phoenix Group that are used by financial advisers - Wrap Self-Invested Personal Pension and Wrap Onshore Bond. There will be no change for other Standard Life SIPP products.

Do I need to do anything?

We want to reassure customers that for the vast majority everything will continue to be the same. Customers do not need to take any action and should continue to manage their products and policies as before. Customers can continue to contact us in the same way as they do now. Where things are changing, we will be getting in touch with a very small number of customers to explain what the changes mean for them and when things will happen.

Where can I find more information?

To find out more about the strategic partnership between Standard Life Aberdeen and Phoenix Group. You can read the announcements using the links below.



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