The Paraplanners

Standard Life Wrap and me! Mon 14 Nov 2011

As some of you may know I have tweeted a few times in the past about my frustrations with the Standard Life wrap and I have even published the odd video to backup my point. It turns out that although Standard Life does not seem to have embraced social media to the same extent as other providers, they were in fact monitoring my comments and rants.

I was recently contacted by two senior members of the marketing and communications delivery team about my tweets suggesting that it might be a good idea for us to meet and discuss the issues I raised. My first thought was that this would be some kind of Mafia hit and that I would never be seen again but am pleased to say that the meeting took place last week and I am here to tell the tale.

It's fair to say that I use a lot of wrap accounts and my frustrations with Standard Life are due to the fact that the service provided for their non-wrap products is superb. Therefore my expectations for the wrap account were high although they failed to deliver. We discussed a fairly long list of issues I have with the wrap and we also went through an equally long list provided to me by some of the advisers I work with. These were all noted by the representatives from Standard Life and I believe that they have the motivation to act on some of them. However, with Standard Life being such a large company it may take some time and a degree of persuasion for the wheels to turn and improvements made.

I do like to provide a balanced view and so far all of my comments about Standard Life and their wrap account of being somewhat negative. Our meeting was very constructive and positive and I hope that future blog posts will continue with the positive vibe I had after our meeting.  Either way I will report back.

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