What a disaster this is turning out to be. I speak as an investor, adviser and shareholder. Clients have lost money, advisers feel misled, shareholders worry about management and Standard Life ask for…..patience!!

Forget patience. If this company was still a mutual organisation (owned by its policyholders) I don’t think it would have ever gone down the route of chasing a fast buck at the beck and call of investors. And, even it had, I think it would have used its own funds to clean up the mess and financial loss of its wrong decisions and pay a lower bonus to with profit policyholders.

As a result of the wrong decisions I expect no winners. Clients won’t want to put new money in an organisation whose cash fund loses value, advisers won’t recommend a company that does not treat its customers fairly and investors will subsequently sell their shares in a less profitable organisation.

So is this goodbye to Standard Life or merely au revior until it changes it decision. Over to you Mr Crombie.