This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies. Find out more here.
X
MM+cover+small+180914

Axa Wealth hires Nucleus COO

  • Print
  • Comment

Andrew Smith

Andrew Smith

Axa Wealth has appointed Nucleus chief operating officer Andrew Smith as chief operating officer for Elevate.

Smith will join Elevate’s senior management on 3 September and will report to Axa Wealth chief executive Mike Kellard.

Smith joined Nucleus in 2006 when the platform launched and was responsible for the platform’s design and build. 

Kellard says: “Securing Andrew will help further develop the strength of our overall adviser offer ahead of the introduction of the RDR.”

Nucleus chief executive David Ferguson says: “Andy is one of the best problem-solvers in the platform space, I can totally understand why a business like Axa would be keen to have him on board.”

Nucleus is recruiting for Smith’s replacement.

Last week, Axa Wealth’s half-year results showed total sales fell 16 per cent from £1.9bn to £1.6b in the six months to 30 June, although the firm saw strong growth in assets on its Elevate platform and investment company Architas.

Offshore sales were down 37 per cent to £345m. However, platform sales increased 11 per cent to £855m, with assets on the platform increasing 49 per cent from £2.9bn to £4.3bn.

Architas assets were up 26 per cent from £8.6bn to £10.8bn.

Premier Wealth Management managing director Adrian Shandley says: “Axa has been very aggressive in its marketing strategy so I am not surprised to see the level of platform assets increase.”

  • Print
  • Comment

Daily Email Updates
If you enjoyed this article, sign up to receive the latest news and analysis from Money Marketing.

The Money Marketing CPD Centre
Build your annual CPD - you can log and plan your CPD hours for free with The Money Marketing CPD Centre.

Taxbriefs Advantage
Advantage is a digital reference source giving unbiased, independent, answers to your technical queries. Subscribe to Taxbriefs Advantage.

Have your sayEdit my profile/screen name

You must sign in to make a comment

Fund Data

Editor's Pick



Poll

Do you think the industry is ready to deliver Budget guidance?

Job of the week

Latest jobs

View all jobs

Most recent comments

View more comments