Opinion  

Why was I not consulted on Axa Elevate deal?

Filip Slipaczek

I refer to the recent press coverage of the sale of Axa Elevate to Standard Life. I am somewhat concerned that the major stakeholder of the business, being the end user – the client – and the introducing chartered financial planner were not consulted.

Originally, Axa Elevate’s composite proposition was chosen, following our due diligence, as a very competitive platform proposition for our smaller clients. Following the Retail Distribution Review, each of the said clients were transferred to adviser charging. I would like to know if the current platform charge is still 0.25 per cent and whether it has changed since the sunset clause became active.

While the Axa Elevate functionality is probably the most comprehensive of all the platforms, it is not the easiest to use, as Axa Elevate would frequently like to remind the advisory community. It is an adviser-led platform, which would mean minimal support from the provider.

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I would also like to know if the more expensive Standard Life platform terms and its interface will apply from now on.

Filip Slipaczek

Principal,

Filip Slipaczek BA (Hons) FCIB ACII FPFS Chartered Financial Planner ISO 22222 Certified,

New Barnet,

Herts