Revamping a 200-Year-Old Financial Brand

What does it take for a 200-year-old financial institution to stay relevant to a generation that’s not even thinking about retirement? This was the challenge faced by Conran Design Group when they embarked on transforming the pension and superannuation company, Standard Life.

Recently gaining recognition as a master brand under its parent company, Phoenix Group plc, Standard Life is now expanding its role and audience. To resonate with younger people, the brand needed a refresh to ensure it remains competitive in the modern retirement sector. In line with other notable rebrands of the 2020s, this effort aimed to modernize a well-established brand.

Conran Design Group introduced a new brand identity for Standard Life, featuring a vibrant digital-first color palette, fresh photography styles, a more assertive typeface, and distinctive new pictograms, illustrations, and icons. Among these is the Journey Line, a central design element symbolizing the various ups and downs leading to retirement.

In an enlightening conversation with Charlie Skinner, Head of Brand Strategy at Conran Design Group, we explored how they aimed to bring Standard Life to life for the year 2026.

Engaging Younger Generations with a Legacy Brand

There’s a pressing issue at hand: six out of seven people in the UK aren’t financially set for retirement. This situation makes it essential—and a bit of a business necessity—for Standard Life to connect with younger audiences.

When dealing with a brand steeped in history like Standard Life, there’s a delicate balance. Preserving this heritage is crucial while still moving the brand forward. Trust is a key element for pension brands, as they’re responsible for people’s finances, so they need to avoid looking erratic or unrecognizable.

The new positioning of Standard Life as the ‘Practical Retirement Champion’ reflects a focus on being relatable and accessible. Internally, there was a sentiment that the brand lacked excitement. This isn’t ideal for capturing the attention of people who’d rather not think about pensions. The goal was to immediately connect with those who don’t prioritize retirement planning by offering content that’s modern and engaging.

Significantly, Standard Life’s relaunch comes with a mission: to assist individuals in securing their future. This helps distinguish the brand from typical industry standards like reliability and safety, creating a sense of empowerment that can appeal to younger individuals. Standard Life is now committed to reshaping the public perception of retirement.

Overcoming Challenges in Retirement Branding

Financial services brands face dual challenges when trying to engage their audience. The industry is often seen as intimidating, filled with jargon that can discourage people from engaging. Most of us only deal with finance when we must, which doesn’t inspire interest.

If a brand gets the tone wrong, the risk is high that people will just withdraw further. Brands should aim to bridge the gap between the complex world of finance and everyday life. They should empower their audience rather than intimidate them, helping shift the narrative from avoidance to proactive engagement.

Creating a Contemporary Identity

Standard Life traditionally used a blue and yellow color scheme, which was important to retain, but they also introduced a fresh, vibrant palette suitable for digital platforms. This new look makes the brand feel more alive and dynamic.

To appeal to younger audiences, the team moved away from cliché images often associated with retirees, like elderly people on the beach, instead opting for engaging scenes that reflect energetic life moments.

The Journey Line serves as a new signature element, representing the ongoing journey toward retirement – a reminder that this journey has already begun.

Speaking to a Wider Audience

The first step was redefining the brand’s personality with three new traits. ‘Bold’ challenges the usual conservative approach often found in finance. ‘Optimism’ promotes a positive, proactive mindset instead of fear and guilt. ‘Empathy’ establishes genuine connections, showing that this is not just a faceless financial agency but a group of real people who understand the challenges everyone faces regarding retirement.

This newfound personality has fostered a more conversational tone. While the financial world often emphasizes caution and disaster, adopting an optimistic outlook is crucial. Younger individuals don’t feel the same urgency to engage with pensions, so a welcoming tone is necessary.

Standard Life’s voice has shifted from a passive, “We’re here if you need us,” to a more active, “Get the future you’ve earned.” Additionally, their messaging is tailored for different audiences, from business professionals to individual consumers, while still maintaining the brand’s core identity.