View more on these topics

Axa adds pricing tiers to cut fees for HNWs

Axa is introducing two new tiers to its standard pricing structure for wrap platform Elevate which reduce the charges for accounts above £2.5m.

Previously, all accounts in excess of £1.5m were charged 0.3 per cent. Under the new structure, accounts between £1.5m and £2.5m will be charged 0.3 per cent, accounts between £2.5m and £5m will be priced at 0.22 per cent and all accounts above £5m will be charged 0.14 per cent.

Axa says it has made the changes in response to increasing demand from advisers placing business on behalf of high-net-worth clients.

Head of proposition Mark Wilson says the new pricing structure will make Elevate more competitive in the wrap market. He says: “The additional two pricing tiers will significantly improve the company’s competitive position for large cases. Elevate’s unique approach to pricing puts us in an enviable position to respond to market changes and will lead us on the road to becoming a market-leading platform proposition.”

Forty Two Wealth Management partner Alan Dick says: “Clearly, this will make Elevate more competitive because the price is better but the wrap market is not all about price. As advisers, we want wraps to be cheap but it is also about the service that is delivered to clients. Any wrap I recommend will be competitive but not necessarily the cheapest.”

Recommended

7

Skandia isolated as platforms come together to oppose cash rebate ban

Skandia was the only platform to respond in favour of the FSA’s proposed cash rebate ban with the majority of other platforms submitting a joint response to the FSA calling for a rethink. A group made up of most of the main platforms, including Ascentric, Nucleus, Novia, Transact, Fidelity, Standard Life, Axa, Aviva, Raymond James […]

AXA UK suffers £104m earnings drop

AXA UK suffered a £104m drop in underlying earnings last year, results show. Full year earnings fell from £235m in 2009 to £131m in 2010. This follows the completion of the £2.75bn sale of its life insurance business to Resolution. An AXA spokeswoman says the 2009 figure, which was down 18 per cent on the […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com