Articles - AXA Wealth Elevate hits £6bn


 AXA Wealth's Elevate wrap platform now has over £6bn of assets under management. Hitting £6bn in assets makes Elevate one of the fastest growing platforms in the UK market with March the biggest month for inflows to the platform since the platform was launched.
 
 Elevate has seen increased interest from advisers following the introduction of its new tiered pricing model* that makes it an even more competitive offering. Elevate has also led the way on offering clean share classes available to advisers and their clients, with over 1,600 clean share class funds available on the platform.
 
 David Thompson, Managing Director, AXA Wealth Elevate, said: “Continuing to increase the growth of assets on the Elevate platform is testament to the support we have received from advisers. With the new, clearer pricing model, the introduction of clean share classes, and the usability enhancements we have made to the service, we expect further growth during 2013.
 
 “There are now over 1,600 clean share classes available for advisers via the Elevate platform, which puts us in a very competitive position given the recent tax changes to rebates. We expect the popularity of this share class to increase dramatically as advisers can invest with confidence that new money will not be taxed. We also believe customers will want to migrate to clean share classes as quickly as possible. The Elevate platform is well placed to help advisers to do this.
 
 “Some platforms are heavily reliant on rebates and legacy income arrangements. The latest news from HMRC, ahead of the expected platform paper, sounds the death knell for old fashioned business models. Although we would expect access to any enhanced clean share classes offered by asset managers we believe the industry should now embrace transparency, not seek to muddy the waters with further complexity.”

 
 Elevate was launched to whole of market in November 2008 as a stand-alone business, outside of the AXA life and pensions company, before it was fully integrated into the AXA Wealth business in Q1 2010. Assets under management have grown from £320mn in Q1 2010 to £3.5bn by the end of 2011 and have now hit £6bn.
                              

Back to Index


Similar News to this Story

Mean Reversion in Equities
A common argument in favour of equity investments is that, even though they go down, they will bounce right back up again. Commentators may advise “
How to get the most out of your insurance consultant
More than half of UK life insurance companies (59%) will spend more on actuarial consultants in the next year. This is one of the key findings of our
Video of what a cyber attack looks like in the real world
Hackers and their scams live behind keyboards. Invisible and faceless. Hiscox show how it would look ff cyber crime happened in the physical world, th

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

Email
Password
 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS

WikiActuary

Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.