Standard Life’s £2bn ‘reset’ faces adviser test
Standard Life has acquired Aegon UK for £2bn, aiming to become the UK's leading retirement savings and income business with £480bn of assets under administration. Advisers are skeptical, questioning whether the deal will bring better service and technology.
Standard Life has acquired Aegon UK for £2bn, significantly accelerating its vision to be the UK's leading retirement savings and income business. The deal creates the nation's second-largest retail pensions and savings platform by assets, with £480bn of assets under administration and 16mn customers. Advisers are questioning whether the deal marks a genuine turning point or is simply a larger version of the same structural and service challenges. The acquisition adds £160bn of assets under administration and 3.8mn customers. Standard Life needs to articulate its strategy clearly and consistently to convince advisers of the benefits. The deal follows years of mergers, break-ups, and rebrands, and is seen as a reset for Standard Life.
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