Articles - AXA Wealth hits £4bn on platform

 Assets held on AXA Wealth's Elevate wrap platform have soared to over £4bn since the end of 2011, reinforcing the strength of the company's platform strategy.
 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.
 Following this integration, and thanks to the single focus on AXA Wealth's platform enhancement strategy after the disposal of non-core legacy businesses to Friends Life, assets under management have grown from £320mn in Q1 2010 to £3.5bn by the end of 2011. And since the start of this year, assets have continued to grow, up 14%, to over £4bn, helping maintain its position as one of the fastest growing platforms in the market today.
 The original system performance and functionality limitations are now resolved, and AXA Wealth believes Elevate is now firmly on the path of being the leading wrap platform.
 Since 2010, AXA Wealth has made platform development one of its top priorities, and has consulted with advisers to ensure key enhancements are prioritised and completed efficiently.
 Last month AXA Wealth agreed a significant new agreement with FNZ, the wealth management technology, transaction and custody services provider, to help accelerate the platform's development. The agreement is designed to secure the future of Elevate as the adviser platform of choice and help AXA Wealth deliver what it views as a revolution in the way investment services are managed and administered online.
 This agreement is also being implemented alongside a programme to rapidly upgrade the platform's functionality, with plans to introduce a new user interface, enhanced usability, and a range of new added value adviser services by year-end.
 David Thompson, managing director of distribution and marketing, AXA Wealth, says: "This is a very strong start to 2012, which I hope, along with our other developments, will provide advisers with increased confidence that Elevate should be their platform of choice. Over the last 12 months, we have seen significant improvements in the functionality, usability and proposition of Elevate and now, in my view, have one of the most advanced platforms on the market. And there is a lot more to come."
 AXA Wealth Elevate has been in the market just four years, with its first funds added on 14th November 2008 by Finch Financial Services LLP, CDH Insurance & Financial Consultants, Blake Independent Financial Planning Ltd and Condy Mathias Financial Planners Ltd.
 Thompson concludes: "While we now have a fast growing platform, it was the sale of our legacy book and the bringing of Elevate into the AXA Wealth business that has helped focus our platform strategy. While some other companies are still juggling the challenges of old and new books of business, AXA Wealth is able to devote all its attention to making its new model approach a success. This focus has helped us grow assets to £4bn in half the time of many other platforms."

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