Investor Relations Newsletter
June 2014
For use by individuals who are familiar with investment terminology1
Hello and welcome to the June edition of our monthly newsletter. Ahead of close
period the team have been across Europe attending conferences and investor
meetings. We also hosted demonstrations of our Wrap platform and our Good to Go
auto enrolment proposition in London.
Standard Life Investor Relations
The platform demo gave equity analysts and investors a chance to see the platform
from a financial adviser’s perspective. It also highlighted recent changes such as the
new DFM capabilities, the introduction of the investment hub and increased
integrated reporting.
Tel: +44 (0)207 872 4124
Mobile: +44 (0)773 830 0878
Email: [email protected]
Lorraine Rees, IR Director
Barclays and Standard Life
join forces
Alan Reid
Workplace Distribution Director
Auto enrolment continues to open up new opportunities for Standard Life, and this
month we announced a partnership with Barclays to provide a straight forward, cost
effective solution to help their SME customers. Together we have produced Barclays
‘Auto Enrolment Advantage’, a fully integrated, online auto enrolment solution.
This partnership is in addition to the growing number of other strategic relationships we
have with corporate pension advisers, which include Punter Southall and Barnett
Waddingham. Together these mean we are increasingly well positioned to help
employers meet their auto enrolment obligations. Barclays provides banking services to
approximately 25% of UK SMEs, creating a significant opportunity to provide an auto
enrolment solution for many employers and the ability to continue to capture prospects
in the workplace pensions market.
Barclays ‘Auto Enrolment Advantage’ is a jointly designed solution targeted at employers
with 5 to 250 employees and offers:
Tel: +44 (0)131 245 8028
Mobile: +44 (0)7515 298 608
Email: [email protected]
Neil Longair
Investor Relations Analyst
Tel: +44 (0)131 245 6466
Mobile: +44 (0)771 135 7595
Email: [email protected]
Jill McCabe
Investor Relations Consultant
Tel: +44 (0)131 245 6800
Mobile: +44 (0)752 573 2147
Email: [email protected]
Vanisha Dhimer
Investor Relations Communications
Consultant
Tel: +44 (0)207 868 5 721
Mobile: +44 (0)770 369 44707
Email: [email protected]
Standard Life plc
30 Lothian Road
Edinburgh EH1 2DH
Web: www.standardlife.com
Twitter: @sl_invrelations
05 August 2014
JP Morgan Cazenove sales force presentation
(CEO & IR)
05 August 2014
Deutsche Bank Sales force presentation (UK &
Europe CEO & IR)
13 August 2014
Leeds and Manchester Private Client Broker
Roadshow (IR only)
14 August 2014
Birmingham Private Client Broker Roadshow (IR
only)
Upcoming events
The partnership will see Barclays deliver the upfront advice and guidance to clients, with
Standard Life providing the online auto enrolment solution. The online solution is easy
and intuitive to use, taking employers through the journey of compliance with auto
enrolment with ease. We have been able to reuse the technology and capability of
Standard Life’s other auto enrolment propositions (for more on these please see Alan
Ritchie’s articles in January and April). The proposition also sees Standard Life act as the
‘agent’ for the scheme, where an adviser might usually do so. This means Standard Life
effectively owns the relationship with the scheme members allowing us future contact
with them.
Jakub Rosochowski
Investor Relations Senior Manager
Investor Relations contacts
The Good to Go auto enrolment proposition was launched in December 2013 and at
Q1 2014 had already processed over 400 qualifying schemes. This demonstration
showed the simple quick quote and implementation processes that an adviser would
take to produce scheme terms for their corporate client, and the support to meet all of
their responsibilities.
Lorraine Rees
Investor Relations Director
20 August 2014
London Roadshow (Barry O’Dwyer, Managing
Director of Adviser and Workplace and IR)
the ability to establish a new pension scheme in under 6 minutes
05 August 2014
Half Year Results
•
access to a Barclays blended fund as the default
10 September 2014
Ex-dividend date for 2014 interim dividend
•
a suite of employee communications and tools to support on-going employee
engagement
12 September 2014
Record date for 2014 interim dividend
•
the combined experience, scale and resources of two leading financial institutions
21 October
Dividend payment date for 2014 interim
dividend
Financial calendar
•
Investor Relations Newsletter
newsletter
June
April 2014
2013
Barclays and Standard Life join forces (continued)
Business insight
‘Auto Enrolment Advantage’ guides employers through a
series of simple steps from the advice and guidance
stages through to pension scheme set up. It is generally
believed that many employers are unaware of their
statutory obligations or the potential issues that lie
ahead. Auto enrolment is a real challenge for smaller
employers as they have the same responsibilities to
fulfil as larger companies but don’t have the same
resources. Growing evidence suggests they are starting
to miss their staging dates. This tool is ideal for
companies who have either left it late or just require a
simple, straight-forward solution which meets their
needs.
The proposition will see Standard Life charge employees
for managing their pension plan and investments. In
March, the Department of Work and Pensions announced
that from April 2015, the total annual management
charge applying to a default fund will be capped at
0.75%. The annual charge, under ‘Auto Enrolment
Advantage’, the annual charge, includes both the cost of
the Barclays default fund and Standard Life’s
administration, and meets this requirement.
2014 is proving to be an exciting year for our workplace
division. Combining Standard Life’s extensive
experience and innovation in workplace pensions, with
Barclays’ knowledge and understanding of the support
employers require, we are well positioned to help SMEs
complete their auto enrolment obligations in a timely
and effective manner.
Biography: Alan Reid is Workplace Distribution Director for
Standard Life, heading up the Workplace Distribution Channel
within UK Corporate. Alan's main focus is to set the distribution
strategy for the Channel in addition to working with colleagues
across the business in the development of Standard Life’s
Corporate Benefits proposition. Alan is also Chair of the
Darlington Hall Estate Pension Fund. With over 23 years
experience, previously with Scottish Equitable and then
Standard Life, Alan has predominantly worked in the Corporate
Benefits arena. Prior to his current role he headed up the
pensions product development area of Sales.
Our Investor Relations App
The Standard Life Investor Relations App for the iPad2 is a great
way to stay up to date with the latest news on Standard Life. You
can view or download all our latest reports, read our latest
RNS/press releases, and watch videos from our Chief Executive.
Our Investor Relations Twitter feed
We also use Twitter. We hope we’ll be able to provide
interesting and informative content that will help our analysts
and investors.
@sl_invrelations
Investor Relations Newsletter
newsletter
June
April 2014
2013
The changing face of the customer
John McGuigan
Managing Director, Customer operations
Business insight
I joined Standard Life in December last year from
Telefónica, which may seem an unusual move but both
companies share a strong drive and passion for customer
focus and this is something my career has always
contained a significant level of, either in a sales or a
customer operations environment. What attracted me to the
role in Standard Life is the clear desire to do the right thing
for both the customer and other stakeholders. Everyone I
spoke to during the selection process highlighted the
desire to be customer centric rather than product focused
which, from my perspective, is critical.
Our customers are expecting increased quality of service,
when they need it and in a way that suits their changing
lifestyles. As such, doing more of the same is not the
answer. We need to simplify and personalise the
interaction with our customers.
Delivering an exceptional customer experience against the
anticipated increase in activity is something Standard Life
is clearly passionate about, and I’m committed to playing
my part in making the changes within Standard Life to put
us in the best market position. We are focusing on three
key priorities within 2014 to deliver against this backdrop:
• Knowing our customers better;
• Multiple ways of contacting us; and
• Differentiated Service.
By getting to know our customers better it will help us to
understand their preferences and allow us to target the
actions we take, which will ultimately improve the customer
experience. Building on this, in the past, the phone and
mail have been the primary contact channels for
customers, but as we develop our digital footprint, it will
allow us to increase out contact channels to areas such as
webchat and video chat. We’re also planning to introduce a
differentiated service proposition which will let us
implement tailored offerings to specific groups of
customers and provide customers with the focussed help
that they need.
We’ve been working hard to make sure we’re operationally
ready to deal with the increased demand expected due to
regulatory changes, by continuing to focus on delivering
our ambitious change portfolio. This approach includes
delivering:
• digital capability – to ensure our customers can
transact with us on-line in a straightforward and reliable
way,
• simplifying and automating our processes – which will
reduce the amount of time it takes to complete a
customer request /transaction and reduce the handoffs we have within our operation, and
• refining our customer operating model, including
introduction of a Demand Control Centre - a centralised
planning and reporting function for customer
operations which will provide an aggregate view of
performance and will allow us to quickly identify and
resolve hotspots across the operation.
The main thing, however, that will retain our strong position
for customers will be our people.
Benchmarking and having relationships with other
customer operation leaders across the industry provides
valuable insight, ideas and confirmation that we’re on the
right track. Our customer base is growing and as such we
need to be adaptable. An example of this has been the
introduction of our new ISA journey where customers can
apply for an ISA in less than 6 minutes through a simpler
experience and there are clear highlights for guidance and
support in the visual journey.
With our colleagues we’re focusing on creating a vibrant
and enthusiastic culture for our customers. The personal
experience and knowledge we bring to the customer
experience requires dedication, training and continual
improvement. It also requires everyone who interacts with
our customers to truly understand the value they add to the
end to end customer journey to retain and attract.
From a personal perspective my wife and I are enjoying
being back in Scotland. We’re both from the west of
Scotland and being in Edinburgh is proving to be great. The
fantastic restaurants and culture are suiting our lifestyle.
I’m a keen runner which has proved to be a great way of
getting to know the city, even if I do get lost occasionally!
Biography: Before joining Standard Life, John was Managing Director and Board member for Telefónica in Germany where he was
responsible for leading the transformation of all sales and customer service operations. Prior to this position, John was Chief
Executive of Telefónica Slovakia, having started his career at Telefónica as General Manager of the UK operation, where he
implemented a significant transformational change programme and was actively involved in benchmarking the group's customer
service operation.
Investor Relations Newsletter
June 2014
Press release
Group
Barclays and Standard Life join forces to support
UK SMEs tackle auto enrolment
09 June 2014
Barclays is working with Standard Life to support employers
navigate the challenges of auto enrolment. Barclays Auto
Enrolment Advantage is a fully integrated, online auto
enrolment solution designed to support companies with the
process to comply in a quick and easy way.
Read more
Standard Life warns against
limiting pensions options for
private sector employers
Press release
16 June 2014
Standard Life announces three year partnership
with Andy Murray
13 May 2014
The partnership, which will see Andy wear a Standard Life logo
on his playing arm for all tournaments, will begin on the 23rd of
June, the first day of the 2014 Wimbledon Championships. The
double Grand Slam champion, and Olympic Gold medallist,
competes in events in all of Standard Life's key markets.
Read more
Media
20 June 2014
Interview with David Tiller, head of adviser platform
propositions at Standard Life.
30 May 2014
Standard Life Investments celebrates its
UK Equity Income Unconstrained Fund
breaking through the £500m mark.
Read more
Standard Life Investments announced the
appointment of Toshio Tangiku* as Asia-Pacific Real
Estate Equities Analyst. Based in Hong Kong Toshio,
who joins from LaSalle Investment Management.
Read more
Standard Life Investments
Ethical Investing for the Long Term
24 June 2014
Standard Life Investments reflects on ten years of ethical
investing in the £206.3m Standard Life Investments UK Ethical
Fund and highlights the results of its 2014 Annual Ethical
Investor Survey which shows that good Business Ethics,
Corporate Governance and Engagement are important to
investors.
Read more
Press release
Media
24 June 2014
Press releases
Real Estate Appointment by Standard Life
Investments
My career: David Tiller
Standard Life Investments fund
breaks through £500m mark
Read more
Standard Life Investments
UK
Standard Life Investments
Standard Life is calling on the Government
not to ban all transfers from funded Defined
Benefit to Defined Contribution pension
schemes as it would unduly constrain the
options for private sector employers to
manage their affairs in the interests of their
businesses and employees.
Press releases
Group
Read more
UK
Investor Relations Newsletter
newsletter
June
April 2014
2013
Canada
Press release
Standard Life receives a licence to provide a Voluntary Retirement Savings Plan in Québec
16 June 2014
Standard Life has been issued a licence by the Autorité des marches financiers (AMF) to administer a Voluntary
Retirement Savings Plan (VRSP) in Quebec starting July 1.
Read more
Canada
Press release
Standard Life launches eServicing tool for group retirement sponsors
13 June 2014
Standard Life announced the availability a new reporting tool developed to enhance information delivery capabilities
for sponsors of group pension plans and their advisors. The new eServicing tool enables plan sponsors to efficiently
request meaningful, consistent and accurate information in the format they want, when they want it.
Read more
Canada
Press release
Standard Life receives two Gold Quill Awards of Excellence
11 June 2014
Standard Life Canada announced that its 2013 Big Concert charity event benefiting Big Brothers Big Sisters of
Canada was awarded two prestigious Gold Quill Awards of Excellence by the International Association of
Business Communicators (IABC).
Read more
Asia and Emerging Markets
Press release
HDFC Life revolutionizes online insurance space by launching a second generation online
plan Click2Invest – ULIP
18 June 2014
HDFC Life announced the launch of Click2Invest - ULIP, a unique online Unit Linked Insurance plan that offers not just
financial protection but also a range of investment options.
Read more
Our Investor Relations App
Our Investor Relations Twitter feed
iPad2
The Standard Life Investor Relations App for the
is a great
way to stay up to date with the latest news on Standard Life. You
can view or download all our latest reports, read our latest
RNS/press releases, and watch videos from our Chief Executive.
We also use Twitter. We hope we’ll be able to provide
interesting and informative content that will help our analysts
and investors.
@sl_invrelations
1.
2.
The material within this newsletter, including the web articles, is for informational purposes only and does not constitute an offer to sell, or solicitation of an offer to purchase any security, nor
does it constitute investment advice or an endorsement with respect to any investment vehicle.
The Apple logo and iPad are trademarks of Apple Inc., registered in the U.S. and other countries. App Store is a service mark of Apple Inc.
Standard Life plc is registered in Scotland (SC286832) at Standard Life House, 30 Lothian Road, Edinburgh EH1 2DH.
www.standardlife.com
© 2014 Standard Life, images reproduced under licence