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Axa Elevate removes switch fees for bundled structure

THOMPSON.jpg

Axa Elevate has removed fund switching charges on the platform’s bundled pricing structure.

Previously there was a charge of 0.25 per cent on the composite charging facility. The changes were introduced from July 2 and apply to both new and existing customers.

Axa Wealth marketing and distribution managing director David Thompson (pictured) says: “Removing the switch charge makes investing more straightforward and cost effective on Elevate.”

Axa Wealth announced in June its intention to allow adviser charging across all of its products.

The Lang Cat principal Mark Polson says: “I think the switching charge was something that made the bundled version of Elevate relatively unattractive compared to the unbundled version.”

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