Standard Life has acquired remaining 75% stake in intermediary support services business, threesixty, to strengthen its understanding of advisers and further meet their requirements in the future.
Under the agreement, threesixty will have the full backing of Standard Life and both companies are expected to work together to develop the business for the benefit of threesixty’s IFA client firms. All of threesixty’s operational partners will remain with business and lead its continued development and growth.
David Nish, chief executive of Standard Life, said: “Standard Life has a long and successful association with the IFA sector and we want to continue to support advisers through this period of change. threesixty has the skills and capabilities to support IFAs, and with Standard Life’s backing, will continue to play a leading role in supporting the transformation of the IFA market.
“Consistent with our successful acquisition of flexible benefit specialist Vebnet in 2008, this acquisition will add further depth to our propositions in the intermediary market and our long-term distribution capability.”
threesixty is an intermediary support services firms in the UK with 575 high quality IFA clients firms who are responsible for 5,160 regulated financial advisers.