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Axa unveils Elevate’s tiered pricing model

Axa Wealth has simplified its charging structure on Elevate which will see the platform move to a tiered model with a reduction in charges.

Under the tiered model clients with up to £24,999 in assets on the platform will be charged 40bps, clients with between £25,000 and £99,999 in assets will be charged 34 bps, clients with between £100,000 and £499,999 will be charged 32 bps, and clients with £500,000 or more will be charged 28bps.

The new charges mark a departure from Elevate’s current structure, which operates 10 tranches with assets up to £49,999 charged 65bps and assets between £500,000 and £749,000 charged 45 bps.

Axa says under the tiered charging structure clients will be charged the lowest price they qualify for on the whole investment, so if a client invests £100,000 they pay a platform charge of 0.32 per cent on the total invested.

Axa Wealth managing director of marketing and distribution David Thompson (pictured) says: “Elevate’s new tiered pricing model helps advisers to explain to customers what they are being charged.

“We believe our new simple and competitive pricing structure will put us ahead of the game in building assets on Elevate.”

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Comments

There are 5 comments at the moment, we would love to hear your opinion too.

  1. This is supposed to be cheap? Well I know price isn’t everything, but I’m hard pushed to find a more expensive option. What have they got that the others haven’t?

  2. am i missing something aviva charge 0.25% flat fee for investments/isa?

  3. Look lads its easy…..
    75 bps for the fund
    40 bps for the platform
    50 bps for the IFA

    That’s a total of 1.65% for around £75000 on a 1.50% fund

    Crikey you’re right… it’s more than going direct or one of the “original big” platforms. Am I missing something?

    The common thing with all platforms is they talk about their charge while failing to add all the figures together for what it really costs to hold the fund. Come on add it all up and tell the full story. We are not that stupid.

  4. AXA Wealth only controls price and not cost of advice or cost of investment, so best compare its costs against those of the others in the market. And where it does control price on both investment and platform it provides a discount to ensure even more client value is offered. Contact me for all the details.

  5. Felix. So clients can now access a fully advised service on a price that is comparable to many non advised offerings, does not sound like a bad deal to me.

    Over £1mn is .25 and over £2.5m is now .22 by the way. Contact me for details.

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