Axa is to continue to offer its Elevate platform at a discount in order to entice advisers into its Architas fund range, albeit at a reduced rate.
Clients currently receive Elevate for free after locking themselves into the firm's multi-manager range for a minimum of a year. The incentive currently costs the provider £2,750 on a £100,000 portfolio invested in Architas over five years.
However, it is understood this will be reduced to a 75% discount in 2013, rather than the full amount of the platform fee.
The provider also looks set to replace the cashback with a waiver of the platform charge, if as expected the Financial Services Authority (FSA) bans cash rebates in its platform paper due next year.
An Axa spokesperson said the offer "will work in a similar way in that it will be paid into an Elevate cash account, and anyone who has invested this year will still get the full 100%. [But] it will be a new offer from 1 January".
Cedric Bucher, head of Architas business development, said regardless of the 25% cashback reduction, the tie-up would be "a market-leading offer."
"The new offer will be highly attractive to advisers and their clients," he said.
Despite a number of life companies looking to vertically integrate their businesses in 2013 with the launch of fund panels and new distribution arms, the Axa offer is still relatively rare.
7 Investment Management is the only other firm to offer a subsidised platform and fund model.
In his platform pricing guide, langcat consultant Mark Polson said the development was not "a particularly healthy thing".
"We're just starting to see the vertical integration of platform and investment propositions with commercials being counted over them both," he said. "So a free platform, but you have to use our investments."
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