Standard Life's sales through channels other than IFAs rose to 41% in the third quarter up from 26% in 2006, according to the group's interim results.
The provider attributes the rise to growing consulting agencies, multi-tie and single-tie distribution arrangements. Overall, the results were strong for the group with life and pensions sales rising 27% to £9850m. Standard Life's dominance of the SIPP market continues with individual SIPP sales rising 43% to £3577m, bringing SIPP funds under administration to £7.1bn. The provider says it will launch online services for its SIPP operations next year. Meanwhile, group pensions sales rose 31% to £2000m, compared to £1532m in the first nine months of last year. Group SIPPs accounted...
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