If you are an MPA client, you will have received a rather long legal document explaining how the Standard Life Assurance products and investments are being rebranded over the next 12 months.
You will be aware that Standard Life Investments have been rebranded and all investments sit on the Abrdn Wrap Platform.
Standard Life Policies (SIPP, Onshore Bond and Offshore Bond) are at present held by the Phoenix Group. Abrdn are working to get the right legislation in place to offer the SIPP and Onshore Bond under the Abrdn name to add to their current products of ISA , Personal Portfolio and Junior ISA .
Once this happens there will be a transfer of the SIPP and Onshore Bond from Phoenix Group to Abrdn in the next 12 months. In the meantime, your investment will continue to sit on the Abrdn platform as before.
Due to the cost of setting up a separate Offshore company, the Offshore Bond will continue to be offered by the Phoenix Group.
There is no change to costs or services, just a change in the group name, where it is held at the moment.
It appears that legally they are obliged to send out the full document explaining all of the changes. We would like to apologise for the paperwork you have received and any concerns raised, as these companies restructure their brand.
If you have any questions, please don’t hesitate to contact your Financial Adviser.