Consumers benefit from knowing their provider is part of the STAR scheme, and can expect better communication, universal standards, continuous improvement and improved transparency.
Participating firms benefit from greater certainty when dealing with other providers, leading to fewer queries and reduced administration costs.
With over 60 million* individual policies and accounts in the UK and the ongoing growth in transfers, the government is keen that the industry commits to the new standards and that firms participate in the scheme.
STAR members can get involved through various STAR groups and projects.
These organisations have already committed their support in principle to STAR. Why not join them?
Criterion was formed for the industry in July 2017, as an independent, not-for-profit industry body for Standards and Governance. It was originally part of Origo Services Ltd and has been publishing standards for over 25 years.
TISA Exchange Limited (TeX) has been established to help facilitate the electronic transfer of wrappers and assets between fund managers, platforms, wealth managers and any firm which holds assets on behalf of investors.