Barclays launches discretionary service on AXA Elevate

Barclays is expanding its discretionary portfolio management service to Axa Wealth’s Elevate platform, to broaden accessibility ahead of the retail distribution review.

The service, launched in April this year, aims to provide intermediaries with an outsourced investment solution through its range of five actively managed portfolios.

Each portfolio is diversified across nine asset classes, ranging from cash and short maturity bonds, to alternative trading strategies.

The portfolios access these asset classes by investing in a combination of both active and passive funds, to provide the most efficient exposure.

The five portfolios also have corresponding levels of risk, so intermediaries can select the most appropriate model for their client.

Bryan Parkinson, director of intermediary sales at Barclays, said: ‘Since we launched the discretionary management service earlier this year, we have been very encouraged by the interest from the industry and this has reinforced our commitment to make our offering as accessible as possible.’

Mark Wilkinson, head of product at AXA Wealth, said: ‘We are committed to offering clients a range of investment choices, particularly in light of on-going market volatility.

‘Built with the RDR in mind, Elevate has had a strong start to the year, with over £4 billion in assets on the platform and the addition of Barclays DPM service makes using Elevate an even more attractive solution.’