Standard Life is planning to invest around £30 million in its main software platform for investment advisors and wealth managers.

The insurer said it was spending the money to make sure it kept pace with changes in the pension market.

David Tiller, head of adviser propositions and strategy, said: "With the increasing degree of uncertainty around the future of some platforms in the market we feel it is important that Standard Life provides a clear demonstration of its commitment to the adviser market.”