AXA Wealth has revealed that the assets on its adviser investment platform, Elevate, have hit £8 billion. This follows an increase in flows onto the platform of nearly one third during the first quarter of the year.
During Q1 of this year inflows on to the platform increased by 30%, to £544 million, driven in part by a 34% increase in ISA sales on the Elevate platform. This has helped take total assets on the platform to over £8billion, the company said in its press release.
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David Thompson, managing director of Elevate, AXA Wealth, said: "As a business we are able to combine the best of a rapidly growing platform, free from legacy issues, with a commitment towards improved efficiency through functionality, such as back office integration and pre-funding switches along with wide investment choices, including stockbroking and direct asset trading.
"With over £10m invested into proposition development in 2013 we will continue to make the AXA Wealth platform easier for advisers and clients to use.
"We believe our enhanced service as well as our competitive pricing structure will continue to appeal to advisers and their clients. That is why we remain firmly on track to meet our targets and are moving closer to profitability."
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