Axa Wealth cuts Architas charges for platform clients

Axa Wealth has introduced an “exclusive” share class for its Architas multi-asset fund range for clients of its Elevate platform.

The move is designed to replace the current discount on the Elevate platform fee that it offers Architas clients - something which was banned by the FCA in April. The discount - which means the platform fee is waived if clients use Architas funds - will finish at the end of 2013.

The company has cut 20 basis points from the annual management charge of the Architas funds, effective from January, meaning its passive fund-of-funds range will cost 0.25 per cent. The active range of funds will cost 0.55 per cent on the platform and the Blended and Specialist ranges will cost 0.4 per cent.

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Hans Georgeson, managing director at Architas, said: “We have introduced this reduced charge in response to changing regulations and are pleased we are still able to provide enhanced terms to those advisers, and their clients, that use more than one aspect of the Axa Wealth proposition.”