Which wrap platform to choose?[

Although wrap platforms are fairly new in the UK there are already a number of providers with different backgrounds and models. In this section, we explore the key questions you should ask, when considering what platform would be appropriate for your business. A comprehensive due diligence process should enable you to assess what platform will effectively support you in delivering the best service to your clients – resulting in added value to your business.

Costs 

• What is the charging structure? 
  
• Is it right for my client bank profile?
• Is it flexible?
• Will it suit my remuneration model?
• What are the charges, how much and for whom?
• Are the charges transparent?
• Are charges flexible and is there a reduction in charges for high asset levels?

Investment choices

• Is the range of investment options sufficient to meet my clients’ needs?
• How frequently is the range reviewed and new funds added?
• Can I access model portfolios?
• Can I build bespoke portfolios?

Technology 

• What is the overall functionality?
• Is it intuitive and easy to use, as well as secure and reliable?
• What about the accessibility and are there options to set different levels of access?
• What tools are available to support me?
• What degree of reporting is available?
• How flexible is the infrastructure of the platform and how often will it be updated/upgraded?
• To what extent can it be integrated with my systems so I don’t have to re-key information?
• Can I adapt it to suit my business profile and help build my own brand?
• How robust are the security levels and disaster recovery resources?

Administration

• What is required to set the platform up in my business?
• How will the provider support me during the implementation process… and beyond?
• What terms and conditions will I be bound to?
• In order to determine appropriateness for my business can I try before I buy, with a cooling off period?

The provider

• Do they have the scale and expertise to deliver and run a platform?
• Do they have experience of working with advisers?
• Are they committed to the UK and to distribution through Independent Financial Advisers (IFAs)?

Customer services

• What does the service model look like?
• Have they got dedicated resources to support their offering?
• What service levels can I expect?
• What channels of communication will be available to me?
• What is their approach to staff training and accreditation?

So, why Elevate?

At AXA we believe wrap platforms are fundamental to the future of our industry.  That’s why we work closely with IFAs and work continually on our vision for Elevate – the delivery of a comprehensive business solution, with in-depth support, flexible systems and exceptional service.

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The challenges
Is a wrap platform right for my business?
Which wrap platform to choose
Why Elevate?