Following AXA Wealth's announcement that Q2 sales for Elevate had risen 107% bringing total platform assets under administration to £2.9bn, new partnerships with Investec Wealth & Investment and Mercater Capital Management further enhance the platform's offering to IFAs.
Elevate has partnered with two discretionary managers to offer additional third-party portfolios, as the platform continues to develop its range of investment options for advisers.
David Thompson, managing director, AXA Wealth UK Distributors, said: "Elevate has had a strong start to the year and has seen significant growth in on-platform sales, with total assets reaching £2.9bn at the end of Q2. Partnerships like the ones with Investec Wealth and Investment and Mercater further strengthen the proposition to ensure that AXA Wealth is able to deliver what advisers' need in time for the Retail Distribution Review."
Investec Wealth & Investment
Investec Wealth & Investment, formerly Rensburg Shepphard, has launched a range of six adjusted model portfolios on Elevate, which will be managed on a discretionary basis for IFAs. The portfolios are designed to provide an additional suite of options for IFA's seeking investment solutions for clients in the all-important run up period to the implementation of RDR in December 2012, complementing Investec's bespoke offering, which has been widely used in the IFA marketplace over the last 20 years.
Tom Street, executive director, Investec Wealth & Investment, said: "The partnership with Elevate, a highly regarded and popular platform during this particularly important period, is an exciting addition to our existing DFM capability. We are committed to working with our colleagues in the IFA arena to ensure our DFM expertise can be as widely available as possible. Enquiries on our DFM capability are currently running at high levels as IFAs seek a high quality service based approach which has always been at the core of the IW&I offering".
Mercater Capital Management
Discretionary fund management firm Mercater Capital Management has launched five model portfolios on Elevate. IFAs will be able to select from the five different risk-graded collective portfolios and benefit from Elevate's flexibility and Mercater's research capabilities to ensure that the consistency of performance of all funds within the portfolio are rigorously monitored.
Alaric Gordon, chief executive officer, Mercater, said: "The partnership with Elevate will allow us to offer the benefits of our discretionary management capabilities at a competitive cost across a variety of products, all within the one platform. The bulk of our business is provided through relationships with IFAs and our strategy is to evolve our business alongside our IFA supporters."
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