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Crunching the numbers on Elevate’s repricing

Standard Life revealed exactly how it would charge new and existing Elevate users this morning. Having completed the platform purchase off Axa in November, Standard Life said existing users would pay exactly the same, but costs for new customers would be changed.

Here’s what the new prices look like:

New customers will face an average cost increase of 0.04 per cent. Consultancy Platforum shows us how these price increases break down by portfolio size:


New customers at the lower value end may be paying less, but for those in the £1m to £1.5m portfolio range will be paying 0.05 per cent more.

This is reflected in how Elevate will perform against its competitors under Standard Life’s ownership.

For a £100,000 portfolio, assuming 70 per cent Sipp and 30 per cent Isa holdings with 20 transactions a year, Elevate moves from fifth cheapest effective rate in the market to eighth.

Arguably this isn’t a huge shift as it is only overtaken by Aviva and Nucleus. For a £1m portfolio however, assuming 80 per cent Sipp and 20 per cent Isa holding with 80 transactions a year, it moves from tenth to eighteenth cheapest, and will be bested on price by, among others, 7IM, Zurich and FundsNetwork.

Access to more discounted fund deals of up to 0.1 per cent on a number of “superclean” funds, which is increasing from 350 to 440 along with the price changes, will undoubtedly make a difference, but the jury is still out on this one.



Standard Life reveals new Elevate charging model

New Elevate customers will face an average increase of 0.04 per cent in portfolio charges to support platform development, Standard Life has said. Standard Life, which purchased the Elevate platform off Axa in May, confirmed the new pricing structure for the platform today after deciding to keep Elevate as a standalone business last month. Charges for existing […]


Standard Life backs Elevate as standalone platform

Standard Life says Elevate will continue to operate as a separate platform from its existing Wrap offering following adviser feedback. Standard Life’s acquisition of the former Axa platform completed earlier this month, with the deal creating the largest adviser platform by assets with combined assets under administration of £38.4bn as at the end of March. […]


The teething troubles ahead for Standard Life’s Elevate integration

Advisers need to watch Standard Life’s integration of Axa’s Elevate platform for signs of teething troubles, experts warn. Last week marked the completion of the acquisition, which will almost double Standard Life’s customer base, bringing over 160,000 to the business, and raising total numbers to 350,000. But while the integration at a technology level should be […]


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There are 2 comments at the moment, we would love to hear your opinion too.

  1. Most super clean will be standard life investments me thinks ! Bad day for elevate users

  2. Super clean share classes are just a method to put advisers and clients off re-registering assets away when they ultimately get fed up with the platform, because so many other platforms do not have those special deals and are unable to accept them. They shouldn’t be allowed as it pretty much goes against the spirit of what RDR was trying to achieve, transparency and fairness.
    One major platform is unable to in specie transfer pension assets out for this exact reason, and that’s simply unacceptable especially when you want to remain invested into the market.

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