Standard Life has wrapped up the integration of Axa’s UK wealth management platform known as Elevate and ended all Transitional Service Agreements (TSAs) with Axa UK.
Elevate will operate separately from Standard Life’s another adviser platform Wrap.
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The two platforms will be supported by three new centres of excellence, which have been set up in Bristol, Basingstoke and Edinburgh.
Standard Life concluded the acquisition of the Elevate platform in November 2016.
Since the acquisition of Elevate, Standard Life launched a new business process, access to Standard Life International Bond, an option to allow customers the provision to opt out of receiving paper contract notes, and added over 440 discounted funds.
Standard Life CEO Barry O’Dwyer said: “When we acquired Elevate in November 2016, we set out to transition a business that was making substantial ongoing losses. Our aim was to have it operating sustainably within a three year period and the progress we are making is well ahead of our timeline. This is testament to the strength of the teams we acquired with Elevate.
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By GlobalData“It also reflects our ambition and commitment to the adviser platform market and to helping advisers build their advice businesses.”
