View more on these topics

Axa Elevate picks Calastone for auto re-reg

Smith-Andrew-Axa-2013
Elevate chief operating officer Andrew Smith

Axa Elevate has chosen fund transaction network Calastone to provide its automated re-registration service.

The Financial Conduct Authority requires platforms to allow re-registration, though it does not require the process to be automated.

The Elevate system will go live this month, Axa and technology provider FNZ have been trialling the system over the last few weeks.

A recent Money Marketing study revealed a number of platforms had yet to sign up to a message vendor meaning transfers involving those platforms must be carried out manually.

Aegon, Aviva, James Hay, Zurich, Seven Investment Management, Raymond James Investment Services and Alliance Trust are all yet to appoint a vendor. Standard Life will use Altus although this is not yet live.

Elevate chief operating officer Andrew Smith says: “It is important that advisers, and their clients are able to move assets easily to create a competitive market. Without this consumers are unfairly tied to their existing service. This freedom of choice is a fundamental principle we strongly believe in.”

Recommended

Castle Trust launches 2.99% three-year fix with Kent Reliance

Castle Trust is launching a product for first-time buyers which mirrors the Government’s Help to Buy equity loan and directly links its 20 per cent partnership mortgage with a three-year 70 per cent LTV fixed rate deal from Kent Reliance. Both Castle Trust and Kent Reliance have been funded by US private equity firm J.C […]

4

Labour: Govt has ‘failed savers’ on Nest restrictions

Labour says the Government has “failed savers and pandered to special interests” in deciding not to remove Nest’s restrictions until 2017. Pensions minister Steve Webb has today published a written ministerial statement confirming the Government’s intention to remove Nest’s £4,500 annual contribution cap and ban on transfers in and out in four years time. The […]

8

Kim North: Dealing with the death of bank advice

Here we are more than six months after the introduction of the RDR and the dust still hasn’t settled.  One of main intentions of the RDR was to move the financial services industry away from being able to buy distribution and to try to improve customer outcomes. It looks however that the RDR is considerably […]

Artemis Global Income: favouring Europe over the US

With a 10 per cent return from his Global Income Fund in the first three months of 2015, Jacob de Tusch-Lec talks to journalist Alexis Xydias about the drivers and why he favours Europe and Asia over the US. Jacob believes European companies remain cheap and is still finding opportunities amid value stocks – in contrast […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

There is one comment at the moment, we would love to hear your opinion too.

  1. If this helps improve the sloth that is re-registration then it can only be a good outcome for investors and advisers….

    Seemingly also good news for Calastone and, I presume, investors in some of the Octopus Titan VCTs!

Leave a comment