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AXA Wealth lifts lid on bancassurance advice charges

AXA Wealth lifts lid on bancassurance advice charges

AXA Wealth has set out the charges for investment advice given through its bancassurance partnerships with the Co-operative Bank, Clydesdale and Yorkshire Banks and West Bromwich Building Society.

Branch advisers at the banks and building society will charge customers 3.25% of assets regardless of how many assets they have.

There will be no ongoing advice charges and no minimum investment amount to get advice.

Customers will also be charged a 1.25% initial platform charge under the new pricing structure. There will be no ongoing platform fee.

Last year AXA Wealth, headed by chief executive Mike Kellard (pictured), reduced its charges for its Elevate platform for the retail distribution review world.

Its new four-tiered pricing structure was made available on 1 January and saw it simplify its previous ten tier structure and cut prices by almost half.

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