UK-based Standard Life has launched a review of its FundZone and Sigma fund supermarkets in response to adviser demand for better access to wrap capabilities.
As part of the review, the company will look at the systems and processes supporting the fund supermarkets.
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The first visible changes relate to the fully bundled Sigma fund supermarket, traditionally used to access Standard Life Investments funds.
The 4% of Sigma customers invested in funds managed by third parties will be provided with a range of options to update their existing arrangements in the first quarter of 2014, Standard Life said.
The options will include moving to an unbundled model on the FundZone platform with access to discounted share classes.
Standard Life adviser platforms head David Tiller said that advisers are looking for fund supermarkets to offer the type of services more commonly found on a Wrap platform, including the ability to switch on more sophisticated functionality as and when they need it.
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By GlobalData"Given that we already have scalable Wrap technology in our stable, we are looking at how we can use the underlying systems architecture to offer a natural upgrade path for fund supermarket advisers looking to access that additional functionality," Tiller added.
