View more on these topics

Axa Wealth sees 53% sales boost driven by Elevate

Axa Wealth has posted a 53 per cent rise in sales to £4.5bn for 2013, boosted by an increase in assets under management on its Elevate platform.

The company reported sales of £2.9bn for 2012.

The figures do not include sales from the bancassurance channel, which was axed last April after the company said it would have to charge 6 per cent to deliver advice profitably.

Overall assets grew by 18 per cent from £21.6bn at the end of 2012 to £25.5bn at the end of 2013.

AUM on Elevate increased by 41 per cent over the same period from £5.3bn to £7.5bn.

AUM also increased for Architas, its fund manager, by 3 per cent from £11.3bn to £12.8bn.

Axa Wealth chief executive Mike Kellard says: “Confidence in the economy is up and we have continued to outperform the market in terms of growth. Last year’s results give us a strong basis from which to build. 

“2014 will be about investing further to enhance our strategy of delivering flexible, functionally rich yet straightforward investment platforms in the UK.”

Clear IFA director Howard Bullock says: “Axa has tried to demonstrate a commitment to the UK market and these numbers seem to reflect that. 

“It also seems to be pro-actively trying to improve func–tion-ality on Elevate, which is important when you are running a platform business.”

In November, Axa Wealth restructured its sales and support teams to focus on remote support, with cuts to the number of face-to-face sales support staff. 

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com