SL's Elevate price chops will 'challenge established players'

'Pinning its colours to the mast'

Standard Life's pricing changes to its Elevate platform represent a "very heavy chop" and a challenge to the "established players", according to one market expert.

Standard Life said the revisions represent a "25% reduction" to its standard terms. Portfolios of £0-£149,999 dropped from 0.36% to 0.30%, for example, while portfolios of £150,000-£749,999 saw a reduction from 0.36% to 0.25%. Larger portfolios also took a hit, as per the table below.  The new pricing structure will be available to new clients from 1 April but SL said existing clients will have to wait a bit longer - they will all automatically benefit from the reductions by the end of the calendar year. Standard Life claimed Elevate will then be "one of the most competitively priced pla...