Axa’s multi-manager business Architas will offer preferential prices to advisers using Elevate or the Standard Life Wrap following the Scottish insurer’s takeover of the French firm’s platform.
French insurer Axa confirmed today (May 4) it is to sell its Elevate platform to Standard Life.
Ongoing charges for Architas’ multi-asset products are around 20 basis points cheaper on Elevate than other platforms, and this policy will remain in place following the completion of the Standard Life deal, according to the multi-manager.
The discounted share classes will also be extended to Standard Life Wrap users once the deal is in place, the company added.
Cedric Bucher, head of UK funds at Architas, said: “Architas has been engaging closely with colleagues from Standard Life over the past weeks.
“As a result, we are pleased to announce the superclean share classes for Architas funds will continue to be available on the Elevate platform following any transaction.
“Standard Life and Architas have also agreed to start the process of adding these same super clean share classes on the Standard Life Wrap, ensuring this preferential pricing for Architas funds is consistent for advisers across both platforms.”
Axa has begun a retreat away from its UK life and savings business via a trio of planned disposals, starting with Elevate. However, the firm has said it remains commited to retaining Architas, which has over £20bn in assets under management.
Mark Polson, founder of the lang cat consultancy, said advisers using Elevate should consider the impact of the sale on their clients.
“Advisers may wish to consider a fresh suitability assessment for each client”, he wrote in a blog post.
“[But] unless the client will pay a fee for the review, I’m not sure advisers can justify the exercise.”