Intermediary support service provider Threesixty has been bought by Standard Life for an undisclosed sum.
The Edinburgh-based life company took a 25% stake in the firm in May 2007 and has now bought out the remainder. Threesixty works with over 5,000 financial advisers in about 575 IFA firms. Standard Life said it has
supported Threesixty for some time but this deal would strengthen its understanding of advisers. The insurer also guaranteed the impartiality of the out-spoken Threesixty team would not be impacted by the deal.
David Nish chief executive of Standard Life stated “We firmly believe that a thriving independent sector that gives consumers valuable access to
professional financial planning is key to meeting the long-term savings and investment needs of consumers in the UK”.
Threesixty was founded in March 2003 and focused on compliance support but has now expanded into other areas.
As at October 2009 Standard Life also had a 15% stake in IFA support service provider 2Plan.
Is this the start of compliance advice to internediaries as Standard Life sees it?
