Paradigm to become Nucleus shareholder as it seals Axa Elevate deal
Share
Paradigm is to become a shareholder in IFA-owned wrap Nucleus and at the same time is adopting Axa Elevate as a strategic partner platform.
The IFA firm has extended its deal to white-label Nucleus to power its platform by five years but says it will also use Elevate.
A letter sent this week by Nucleus IFA Advisory Board chairman John Moore to Nucleus shareholders says: “The arrangement will result in Paradigm and the Paradigm IFAs becoming shareholders in NIFAC in due course. Furthermore they have negotiated a commission-sharing deal with Axa Elevate for those IFAs wedded to using a major life company platform.”
Chief executive Paul Hogarth (pictured) announced the Axa Elevate deal at the Paradigm Partners conference in Marbella today.
Hogarth says: “This is a significant partnership and has been introduced in response to demand from members for another provider to be added.”
Nucleus chief executive David Ferguson says: “Paul Hogarth and his team have been friends of Nucleus since our early days and we share a very positive vision for a post-RDR world.”
Axa Wealth UK Distributors managing director David Thompson says: “The partnership with Paradigm is a significant development in the evolution of the Axa Wealth business.”
Paradigm recently announced SEI is to power its corporate platform which will go live in December.
If you enjoyed this article, sign up here to receive daily email updates from Money Marketing and Follow @_moneymarketing
