In response to adviser feedback, AXA Wealth has launched a fixed term deposit offering on Elevate to support the platform’s whole of market solution and give advisers and their clients a wider investment choice.
The fixed term deposits available, supplied by Cater Allen and Bank of Ireland, give investors access to an additional range of cash investments. These are held for a fixed term at a fixed interest rate and allow advisers and clients to plan the interest they will receive without worrying about interest rate fluctuations. These deposits offer rates of up to 3.9% for a three year investment. Elevate have plans to add to the portfolio of fixed term deposit providers during the next few months.
David Thompson, managing director of marketing and distribution, AXA Wealth, said: “During times of market volatility clients will often exit equity markets or move their portfolios into cash accounts or to traditional cash deposits. Having the fixed term deposit facility on Elevate offers advisers and their clients greater choice, and by giving up instant access to their cash deposit, clients can receive higher interest rates; which is appealing to many in the current economic climate.”
The addition of fixed term deposits onto Elevate follows the recent appointment of Nucleus’ Andrew Smith to become Elevate’s chief operating officer. Andrew started in his new role on September 3, and will help further develop the platform’s adviser offering pre- and post-RDR.
Fixed term deposits are available through the Elevate General Investment Account, Elevate Pension Investment Account, Offshore Bond and third party accounts.
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