IFAs using AXA Elevate up 60% from start of year[

6 April 2010

AXA’s Elevate platform has grown new funds under management to £850m since launch. Further to this nearly 500 IFAs are now signed up to use the platform – a 60% increase since January 2010.

AXA's Elevate initially launched with the Elevate General Investment Account and the Elevate Stocks & Shares Individual Savings Account. Later, the Elevate Pension Investment Account was also included. In January 2010 it added access to offshore bonds, a range of portfolio planning tools, discretionary management, third party accounts, trusts and an investment proposition developed with Architas Multi-Manager.

As one of the UK’s fastest growing platforms*, Elevate also offers powerful functionality in a number of key areas identified by advisers as highly desirable when selecting their platform of choice.

Elevate's innovative dual charging approach, with both bundled 'supermarket' and unbundled 'wrap' pricing options has several advantages for both advisers and their customers. It provides a clear upgrade path to RDR for currently business models, in additioncommission-based complete remuneration flexibility to

Elevate is not linked to inflexible legacy systems and has been developed entirely on a purpose-built investment platform. It benefits from straight through processing of new investments, switches, client income and drawdown payments with no need for paper application forms or 'wet' signatures’. Scaleable client management is achieved through model portfolios and bulk switching/rebalancing

Elevate also offers access to 'whole of market' UK and international funds, ETFs and UK stocks and shares with access to Architas passive and active risk rated funds, OBSR/Architas risk rated model portfolios and discretionary managers.

David Thompson, MD of wealth investments and distribution, AXA Wealth, says: “The growth in advisers following the latest release of Elevate is evidence that listening to our advisers, challenging industry norms and building for the future is paying dividends. The flexibility that Elevate offers coupled to the adviser supports services means that Elevate is being seen as a real frontrunner of change in our industry.”

Neil Mumford, Chartered Financial Planner, Milestone Wealth Management, says: "We have been extremely impressed by how Elevate have engaged with us and dealt with our concerns - you do not feel like a number. They have worked with us very closely to ensure that our core and satellite investment funds were added to their wrap as quickly as possible. It is refreshing to work with a partner that delivers what we want rather than deliver what they think we want and this has added significant value to both our investment and client proposition.”

Graham Thomas, managing director, Genesis Wealth, said: “Genesis undertook rigorous due diligence on the different wrap offerings in the market before selecting the AXA Elevate wrap, which in the business’s opinion, provided the most technologically advanced and progressive system.