Axa has introduced two new pricing tiers to its wrap platform Elevate to accommodate for advisers wishing to place busines from high value clients.
The new tiers will see accounts between £2.5m and £5m priced at 22 basis points, while accounts in excess of £5m will be priced at 14bps. These two new tiers were introduced on February 1, 2011.
Axa Elevate previously operated a standard structure, which was priced at 30bps for all accounts in excess of £1.5m. The 30bps pricing structure remains in place for all accounts between £1.5m and £2.5m.
Axa Wealth managing director for UK distributions David Thompson says: “We have been getting feedback from our high net worth customers saying they would like a better value proposition. When you have got that size of investment a lower, tiered pricing structure worked, so we have listened to our customers and revised the terms.”