AXA Wealth said it will reduce the charges on its platform as a part of its post-RDR strategy, as it aims to become the preferred wealth provider for new model financial advisers.
The pricing is expected to be tiered below 35bps for Elevate portfolios between GBP25,000 and GBP100,000, and below 30bps for assets over GBP500,000.
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Additionally, the company added that advisors will receive one of the functionality-rich wraps available in the market, complete with planning & risk profiling and asset allocation, portfolio construction and management and lifetime cash flow planning tools.
Features such as pre-funding, a choice of fixed term deposits, and a platform that currently invests around GBP18 million a year in new design development will also be on offer to the advisors.
Commenting on the move, Paul Riddell, head of strategic communications, AXA Wealth, said: "Winning the platform war is key for AXA Wealth, which has invested millions over the past four years to make it one of the most trusted platforms in the market. Not only will it be one of the most keenly priced wraps in the market across key price points, it is a platform that will continue to benefit from an investment programme designed to keep Elevate at the cutting edge of platform design."
"The new pricing model will refine this approach further following feedback from users to give customers a more competitive charge and a simpler structure, which improves an already transparent offer even further. We believe Elevate will give advisers and clients the best of both worlds: a market-leading wrap platform at a highly competitive price," Riddell added.
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By GlobalDataThe new pricing model is expected to available to new and existing Elevate user firms from 1 January 2013.
