Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

AXA Wealth cuts pricing for larger portfolios

AXA Wealth cuts pricing for larger portfolios

AXA Wealth has unveiled reduced charges for larger portfolios on its Elevate platform.

The platform will now charge 0.25% for portfolios that are £1 million plus, 0.15% for £2.5 million plus and 0.10% per cent for those that are over £5 million.  

AXA Wealth said that unlike other platforms 'where the tiers work like income tax bands', they sought to charge the lowest price they qualify for on the whole portfolio.

In addition, clients - married couples, civil partners, cohabiting couples, children and grandchildren - who link family accounts can reduce charges by adding the value of their portfolios together and qualifying for a lower price band.

David Thompson, managing director of Elevate, AXA Wealth, said: 'These new reduced charges, available immediately, fit neatly with our transparent pricing model. Given the strength of the business we are now in a position to make the charges for larger portfolios amongst the most competitive in the market and offer lower costs to advisers and their clients.

'We are able to combine the best of a rapidly growing platform, free of the legacy issues of others, with a commitment towards improved efficiency through functionality such as back office integration and prefunding switches along with a wide investment choice including stockbroking and direct asset trading.'

Charges for investments under £1 million remain the same.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Taxicab Tenner: AXA IM's Nicolas Trindade

Taxicab Tenner: AXA IM's Nicolas Trindade

After a summer break, it is the turn of AXA Investment Manager's Nicolas Trindade to give a £10 view of how fixed income is faring.

Play Wealth Manager Olympics: the Relay

Wealth Manager Olympics: the Relay

In the final round of the Wealth Manager Olympics, our intrepid athletes team up for the relay.

Play Wealth Manager Olympics: the Shot Put

Wealth Manager Olympics: the Shot Put

After busting a gut in the 100m sprint, our wealth manager Olympians displayed their brute strength in the shot-put.

Read More
Your Business: Cover Star Club

Profile: gearing up for the shift from consolidation to start-ups

Profile: gearing up for the shift from consolidation to start-ups

‘I think the industry is evolving rapidly, but not necessarily as a whole,’ says the head of recently launched Charles Nicholson AM

Wealth Manager on Twitter