We won't make Friends Prov mistake - AXA wrap

Paul McMahon, AXA Distribution Services managing director, says the firm’s new ‘Elevate’ platform can successfully enter the UK wrap arena despite concerns the marketplace may already be overcrowded. In its January strategic review, life and pensions provider Friends Provident cancelled its wrap development, admitting the proposition “was more complex than originally planned”. However, McMahon says there is “huge scope and opportunity” for any wrap provider with the right strategy, commitment and capability. “There is a significant difference between the shape and size of Friends Prov...