Standard Life plc gains on FTSE 100 after acquiring Threesixty

Threesixty works with 575 Independent Financial Adviser (IFA) firms.

Based out of Edinburgh, Standard Life would strengthen its understanding of advisers.

The insurer also guaranteed the impartiality of Threesixty's advisers.

Meanwhile, IFA firms, which number around 11,000 in the UK alone, are in the process of consolidating after the FSA's retail distribution review (RDR) which made it harder for smaller firms to compete by offering higher commission.

Threesixty, a service provider for IFA's, expected almost half of the 11,000 firmns to disappear and many to consolidate around strong regional firms and groups.

Standard Life's share price, up 5 pct since begining of the month rose another 1.32 pct today to 214.40 at 2:28pm.