The new Elevate platform pricing is designed to give it price advantage, with a highly competitive tiered approach, enabling Elevate clients to see clearly the charges they will be paying for their platform investment.
Tiered model charges:
|
Value of Elevate portfolio |
Elevate portfolio charge |
|
£500,000 |
0.28% |
|
£100,000 - £499,999 |
0.32% |
|
£25,000 - £99,999 |
0.34% |
|
£0 - £24,999 |
0.40% |
Unlike many other platforms where the tiers work like income tax bands, the Elevate pricing model has been designed so that clients are always charged the lowest price they qualify for on their whole investment. For example if a client invests £100,000 they will pay a platform charge of 0.32% for the entire investment.
David Thompson, managing director of marketing and distribution, AXA Wealth, says: “A key feature of AXA Wealth’s new pricing model is its unique ‘What you see is what you pay’ pricing. We pride ourselves on enabling advisers to carry out day to day advisory business in the most efficient and effective way possible. Elevate’s new tiered pricing model goes even further towards achieving this by aiding the adviser in easily explaining to customers what they are being charged.
“Alongside the rest of the extensive features that Elevate offers we believe our new simple and competitive pricing structure will put us ahead of the game in building assets on Elevate. We are already one of the fastest growing platforms in the UK market today and our new pricing model has been designed to accelerate asset growth and deliver sustainable profits in line with AXA Wealth’s long-term ambition to be a UK platform winner.”
Other advantages of using the Elevate platform include:
• pre-funding of transactions to help ensure a client is in the market for longer
• no additional transactional charges for fund switching, model portfolio functionality and a risk profile questionnaire
• linked family accounts, through which clients can see their charges fall even further by qualifying for a lower price tier
• access to a wide investment range including multi-manager, whole of market, discretionary management, end to end risk-rated solutions, stocks and shares and fixed term
• access to strong business support including business, platform and technical consultancy
• clients’ assets not locked in, allowing free re-registration on and off the platform
• access to third party products including those from the Isle of Man
• an independent financial strength rating of B+ from AKG*
• being part of one the largest financial services company in the world.
The new pricing model is expected to be available to new and existing Elevate user firms from January 1 2013.
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