UK’s Scottish Life extends its range of investment solutions

Scottish Life, the pensions specialist arm of the UK based Royal London Group, has extended its range of outsourced investment solutions to include funds from Cazenove Capital Management, Brooks MacDonald Funds, 7IM and Rathbones.

The aim of the decision is to reduce the time charged during the advising process, and managing risks associated with investment selection.

Lorna Blyth, investment marketing manager at Scottish Life said that outsourcing the investment process is a growing trend, centred around the provision of a consistent and robust investment process for different segments of an adviser’s client bank.

“However, there’s growing pressure from the [UK] Financial Services Authority to ensure that the providers chosen for the outsourcing are suitable in terms of cost, servicing and other relevant factors, and that the approach taken is not ‘one size fits all’,” she said.

Scottish Life’s Governed Portfolios are intended to deliver a low cost, risk graded investment solution specifically designed for pensions, but the company recognised that it may not be the right solution for all segments of an adviser’s business.

“Governance is something we feel should always be provided. Advisers have to be comfortable that, if they choose to outsource the investment process, the provider is doing the job they have been trusted with. So we’ve formed strategic partnerships with four of the leading discretionary fund managers in the market to offer a range of segmented investment solutions in addition to our own Governed Portfolios,” Blyth said. 

Scottish Life offers packaged risk graded funds through pension products and has created new fixed lifestyle strategies that chart a path from higher to lower risk funds as clients approach retirement.

Royal London Group is the UK’s biggest mutual life and pensions provider.

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