Pensions and platform drive Axa Wealth funds growth

Pensions and platform drive Axa Wealth funds growth

Axa Wealth has seen funds under management improve 14 per cent to £30.4bn during the third quarter from £26.6bn in the same period last year, driven by new business on its platform and through its multi-manager arm.

The specialist self-invested personal pension and investment platform grew funds under management by 16 per cent to £19.9bn, while the wrap platform saw funds total £10bn, up 13 per cent from £8.8bn.

Architas, the multi-manager arm, saw total assets increase 46 per cent from £13.3bn to £19.4bn year-on-year.

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Axa Wealth’s chief executive Mike Kellard stated that over the last five years assets in the pensions and investment business have grown from around £15bn in 2010 to over £30bn, along with nearly £20bn in the multi-manager business.

“Wealth has responded to the opportunities and grown over the past nine months, which follows four years of rapid growth.

“In the last quarter alone we’ve delivered a new set of online tools supporting advisers and clients with retirement planning,” he added, referring to the LifePlanning Toolkit and other adviser support tools launched.

Mr Kellard added: “With more government change ahead for the next year, we’ll be working with advisers to enhance our proposition in the areas that matter most to them – from adding model portfolio functionality, to improving our retirement offering and delivering consistently excellent customer service.”