View more on these topics

Elevate gives advisers more control over drawdown

The Axa Elevate platform has introduced an online income-drawdown facility which aims to give advisers more control over management of client pensions.

Advisers using Elevate’s pension investment account can now change the regular drawdown income that a client is taking and alter their income withdrawal strategy.

They can make a one-off payment to a client and, through resetting which investments are sold to pay the USP drawdown, actively manage investment sales.

Head of marketing Ian Thomas says: “It is possible for an adviser to instigate the set-up of a new drawdown and the payment of the tax-free lump sum and have this completed within the day. There is nothing to stop a client meeting their adviser at breakfast, agreeing to take their benefits from the Elevate PIA and receiving a tax-free lump sum in their bank account the following day.”

Ring Associates director Simon Ring, who uses Standard Life’s platform, says the enhancements will prove useful to IFAs on Axa Elevate. He says: “We would love this facility on the Standard Life wrap because one of the failings of this wrap is that you cannot do anything with drawdown. For example, if you have got some crystallised and some uncrystallised benefits, you cannot identify on screen which ones are which.”


Survey shows hourly rates encourage time-wasting

Adviser charging structures that operate on an hourly fee basis reward inefficiency, according to a new survey.Australian firm Elixir Consulting researched charging structures in the country’s financial advice sector and found that time-based fees are unpopular among IFAs.It says most advisers charge via a job-rate structure or ann-ual retainer amid concerns that hourly charging encourages […]

Hay asks Revenue to rethink Sipp policy

James Hay is calling on HM Revenue & Customs to review its tax charge on remortgages for commercial property held in Sipps to allow investors to take advantage of lower mortgage rates.The firm claims many Sipp investors who bought commercial property with a mortgage of up to 75 per cent loan to value before A-Day […]

Doom’s day

Have you heard? They are remaking the movie Temple of Doom but this time Alastair Darling is being cast in the role of Indiana Jones.Yes, this is the latest insightful contribution from the Treasury select committee. What caused this protestation? The idea of starting the inevitable process of collapsing state-owned banks into each other, in […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    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 thought leadership.

    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