Standard Life has wrapped up the acquisition of Axa's UK wealth management platform, known as Elevate.
The deal, announced in May 2016, creates one of the largest adviser platform businesses in the UK with assets under administration of over £40bn.
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The combined entity will cater to about 3,000 adviser businesses and 360,000 customers, Standard Life said.
Standard Life head of adviser and wealth manager propositions David Tiller said: “This acquisition is a clear sign of our continued commitment to lead the UK adviser platform market. Elevate provides highly rated and multi-award winning platform services to a large number of advisers we do not currently have a close relationship with.”
Standard Life said that it will now talk to advisers who used Elevate to gain insight and feedback that will help the firm develops the platform in the future.
“This will help us to prioritise the things they value most, allowing us to evolve their proposition to support their businesses and their clients while delivering a sustainable platform,” Tiller added.
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