The Axa Elevate platform is an open architecture platform, providing access to a range of assets and investment vehicles, with more than 2,800 funds from in excess of 140 fund managers. The firm saw assets under management increase to £7.9bn in the first quarter of 2014; up 30 per cent from £6bn posted in the previous year.
Axa Elevate offers a suite of tools and services, aimed at helping users to research funds and investments and reduce admin time. These tools also allow for clients’ attitudes towards risk to be assessed via a risk profiling tool powered by eValue FE, resulting in a recommended risk rating and optimised asset allocation.
The platform is in the process of adding a further 1,000 clean share classes to its offering. This move will mean there are nearly 3,000 clean share classes on the platform. Managing director David Thompson expects the percentage of Axa Elevate inflows going into clean share classes to increase, as a result of HMRC’s announcement that platform rebates are going to be taxed. Despite this announcement, Axa Elevate will continue to offer bundled funds.
Analysis about Axa Elevate
Adviser disquiet about picking up a substantial part of the cost of the proposed guidance service is understandable.
A lack of notice period for agency agreements leaves financial advisers vulnerable to a change of direction from product providers.
Skandia and Axa both say automatic switching rules out under new guidance