View more on these topics

Axa Elevate cuts bulk trading costs

Axa Elevate is introducing a tiered charging structure as part of new aggregated trading service aimed at reducing costs.

The platform has improved its existing stockbroking service with the backing of new provider Winterflood Business Services.

Under a tiered structure, aggregated trading prices are charged at £5.50 for exchange traded funds and £7.50 for non-ETF trades where there are more than 50 aggregated trades.

The cost then rises to £9.50 for ETFs and £11.50 for non-ETF trades where there are between two and 49 aggregated trades, with individual trades costing £10.50 and £12.50 respectively. 

Elevate managing director David Thompson says: “The improved stock broking service is in response to adviser demand for enhanced and more cost effective options to trade ETFs, investment trusts and equities. The introduction of aggregated trading for the first time will provide lower trading costs.”

The platform has also announced further integration with software provider Iress, which will eventually allow client data to be pre-populated on Elevate from an adviser’s back office system. It will also lead to advisers being able to transfer information on values and holdings to advisers’ systems.

Recommended

Phil-Wickenden-MM-Peach-700x450.jpg

What advisers are saying: A wealth of opportunity

There is a huge opportunity for advisers to get their share of the protection gap through closing it. Oh, and that is an average “per person” gap of £100,000. Importantly, it ticks all the boxes, contributing to: visible repeatable revenues, high margin, client retention and good cash flow. But closing it will require understanding, confidence […]

Tom-McPhail-MM-Peach-700.jpg
1

Tom McPhail: The pension liberation battle is set to get tougher

Pension liberation fraud is a problem that is here to stay. There are various things that can be done to mitigate it but there are pitfalls ahead.  Pension liberation fraud is now siphoning millions of pounds out of the pension system and it is unlikely to stop. What is more, it seems as if the […]

Technology-Tech-Currency-Money-700x450.jpg

Cofunds axes annual fee after charging review

Cofunds has removed its £40 annual platform charge following a review of its unbundled pricing structure. Money Marketing revealed last month the platform was reviewing its pricing structure following its acquisition by Legal & General. The platform’s monthly investment charges, which range from 0.29 per cent for assets up to £100,000 to 0.15 per cent […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment