AXA Elevate is to lower the discount it offers to users who buy the group's own Architas fund range in 2013.
Under the current deal, Elevate users who buy the group's Architas multi-manager range via the wrap get the annual platform charge - which varies between 0.65% to 0.14% - waived in full as part of a "cashback" offer.
However, from 2013, the group is amending the cashback deal, offering a 75% rebate of Elevate's portfolio charge instead of 100%.
The rebate will continue to be paid annually into the client's cash account as long as they remain invested in the fund.
AXA Wealth - which is responsible for the Elevate platform - said while the new deal was not as generous as 2012's offer, it remained market leading.
"This remains a highly attractive offer to clients, and one that we believe will prove equally popular with advisers and clients," the company said in a statement.
The Architas range consists of 22 funds, all offering investors different levels of risk.
All the funds are overseen by CIO Caspar Rock (pictured), who works alongside Steve Allen and Nathan Sweeney.
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