After a tough 2014, Axa Wealth’s Elevate appears to have turned a corner. It is receiving investment, gathering assets at pace and seeing strong flows into pension wrappers. This is in spite of uncertainty over its future ownership.
The platform’s gross and net sales remained steady, showing continued momentum in asset flows despite uncertainty over its future ownership: French parent company Axa is rumoured to have put the platform business up for sale.
Continued speculation does have the potential to affect new business and asset inflows. As it stands, adviser sentiment remains fairly positive but we will be watching closely to see what impact this uncertainty has over ratings next quarter.