PlatformsMay 7 2013

Axa Elevate’s assets soar as RDR strategy pays off

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ByMatthew Jeynes

Axa Elevate has seen a 50 per cent increase in its assets under administration, from £4bn to £6bn, in the past year.

Total sales from advisory business on the platform rose by 28 per cent to £397m in the first quarter of 2013, with March being the best month for sales on Elevate since its launch.

The sales for Axa Wealth overall, including specialist multi-manager Architas, grew by 79 per cent to £1.6bn in the first three months of the year, which the firm attributed to its RDR strategy.

Mike Kellard, the chief executive officer of Axa Wealth, said: “The Axa Wealth business was well prepared for the RDR which has given us a strong basis to continue to evolve and develop the business for the years ahead. This first quarter’s results show we are very well placed to continue achieving this.”