The new portfolio charge available is 0.25% for £1 million plus, 0.15% for £2.5 million plus and 0.10% for portfolios over £5 million.
Unlike many other platforms where the tiers work like income tax bands, the pricing model on the AXA Wealth’s Elevate platform 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 £2.5 million they will pay a platform charge of 0.15% on their entire investment.
These reduced charges are available to all existing and new clients, including as part of our family linked accounts service. This means clients - married couples, civil partners, cohabiting couples, children and grandchildren - who link family accounts can see their charges fall even further by adding the value of their portfolios together and qualifying for a lower price band.
David Thompson, managing director of Elevate, AXA Wealth, said:
“These new reduced charges, available immediately, fit neatly with our transparent pricing model. Given the strength of the business we are now in a position to make the charges for larger portfolios amongst the most competitive in the market and offer lower costs to advisers and their clients.
“We are able to combine the best of a rapidly growing platform, free of the legacy issues of others, with a commitment towards improved efficiency through functionality such as back office integration and prefunding switches along with a wide investment choice including stockbroking and direct asset trading.
“We are already one of the fastest growing platforms in the UK market today and we believe our competitive pricing structure will continue to appeal to advisers and their clients.”
All other charges for investments under £1 million remain the same.
