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 ...
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