Standard Life Creates Head Of Advisor Propositions, Strategy As UK Pension Reforms Kick In

Tom Burroughes

22 April 2015

, the UK-listed financial services firm, has appointed David Tiller as head of advisor propositions and strategy, a newly-created role. The moves comes at a time when recent pension investment freedoms are seeing a flurry of activity by wealth managers.

The appointment extends his role beyond Standard Life Wrap to include its SIPP and international bond propositions, as well as business support services for advisors.

Tiller was previously head of advisor platform propositions at the firm. He is based in Edinburgh, Scotland.

At the start of April, new rules allowed UK holders of defined contribution and defined benefit pensions to have more freedom on how to invest, a move expected to create fresh advisory work for wealth managers.

"I have no doubt that the pension freedoms are creating a golden age for financial advice and wealth management in this country. The last few weeks have again made it absolutely clear that people need the profession’s help to build efficient and sustainable retirement plans. It's a privilege to work with the UK's best advisor firms to build a future in which advice is more socially and financially valuable than ever before,” Tiller said.

Tiller’s 30-strong team will be joined by Mike Hogg, who will take on the role of head of platform strategy, alongside Graham Dow, taking on the role of head of wealth manager propositions.

“The team now continues to focus on our immediate priority, which is supporting firms in developing their propositions and processes for clients living off their portfolios in retirement. The tax planning, investment and servicing requirements of these clients has fundamentally changed and firms need solutions to meet these requirements in an efficient way,” he said.

As previously reported here, Standard Life is rolling out a restricted financial advisory business to tap into what is expected to be a surge in demand for help over new freedoms to control money in pension schemes. As part of the move, it has also bought the UK firm Pearson Jones from its owner, Skipton Building Society. For more detail, see here.