Axa Wealth is developing an execution-only platform in a bid to help IFAs service 'orphan' clients.
Chief executive Mike Kellard (pictured) said the execution-only platform will launch in Q1 or Q2 next year with partner IFA firms before being made more widely available.
He added the platform will work in partnership with IFAs and target clients who have not been actively serviced by an adviser recently.
"We are launching this to help IFAs farm very large orphan books," said Kellard. "A large percentage of a firm's clients may not have dealt with an IFA for some time and it is better for us to approach these clients with an IFA and tell them they now have a facility where they can trade directly with us."
The initial platform will be a basic model with products including mutual funds and ISAs before additional products and functionality are added.
Although the model is still in the design phase, Kellard said adviser firms could white label the platform to clients or offer it under a joint branding partnership.
Axa Wealth is currently working with a number of IFA firms on design of the platform.
"In terms of clients trading directly on Elevate, I think there are benefits to IFAs, benefits for us and benefits for consumers so it is one of those unusual win-win situations," he added.
Meanwhile, Kellard said whilst launch of a corporate wrap is part of Axa Wealth's long-term strategy, this is "some way off" for now as other programmes take priority.
The Elevate platform accounts for about 40% of Axa Wealth business, up from 19% last year.
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