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.