Axa Wealth has cut charges on its Elevate platform on assets over £1m.
The platform currently charges 0.28 per cent on assets over £500,000. With effect from today, Elevate has introduced three new pricing tiers, with assets over £1m charged 0.25 per cent, assets over £2.5m charged 0.15 per cent and assets over £5m charged 0.1 per cent. Charges apply on the whole portfolio.
Pricing on assets below £500,000 remains unchanged. Elevate charges 0.4 per cent on assets up to £24,999, 0.34 per cent on assets up to £99,999 and 0.32 per cent on assets up to £499,999.
Axa Wealth Elevate managing director David Thompson says: “These new reduced charges fit neatly with our transparent pricing model. Given the strength of the business we are now in a position to make the charges for larger portfolios amongst the most competitive in the market and offer lower costs to advisers and their clients.”