View the article online at http://citywire.co.uk/new-model-adviser/article/a637632
AXA Elevate unveils revamped charging structure
by Jun Merrett on Nov 27, 2012 at 13:18
AXA Wealth has unveiled its new four-tiered pricing structure for its Elevate platform which will be available from 1 January 2013.
For portfolios under £25,000, AXA Wealth will charge 40 basis points (bps). Portfolios between £25,000 and £100,000 will be charged at 34 bps.
Clients with assets of £100,000 and £500,000 will be charged 32 bps with portfolios of over £500,000 charged 28 bps.
The pricing is tiered so the client is charged the lowest price for their whole investment, for example a client investing £100,000 will play a charge of 32 bps for their entire investment.
Earlier this week New Model Adviser® revealed that AXA Wealth planned to slash the prices for Elevate platform by half.
David Thompson (pictured), AXA Wealth's managing director of marketing and distribution, said the new pricing structure would help the platform towards sustained profitability.
‘We believe our new simple and competitive pricing structure will put us ahead of the game in building assets on Elevate. We are already one of the fastest growing platforms in the UK market today and our new pricing model has been designed to accelerate asset growth and deliver sustainable profits in line with AXA Wealth’s long-term ambition to be a UK platform winner.’
News sponsored by:
Today's top headlines
- Sunday Papers: BoE to launch inquiry over forex fixing claims
- Saturday Papers: Independent Scotland would lose UK's AAA rating, warns Citigroup
- FCA issues warning against US firm targeting UK investors
- Nest director John Taylor exits after 12 months
- FCA set to simplify adviser charging reporting rules
More about this article:
More from us
- AXA Elevate slashes wrap prices in bid to win platform war
- AXA Wealth unveils RDR-ready pension plan and onshore bond
- Standard Life and AXA investigate advice push
by Himanshu Singh on Mar 09, 2014 at 04:54