In response to the rumours that AXA is to sell its UK business, Platforum provides the following data on AXA’s adviser and D2C platform businesses.
AXA Wealth Elevate – the adviser platform
• AXA Wealth Elevate ranks 10th in AUA among adviser platforms as at 30th June 2015
• AUA was up 20.59% or £1.72bn YOY in June. AXA Wealth Elevate grew more slowly than the competition – the adviser platform market grew 32.98%.
• After a relatively weak 2014, we have been encouraged by stronger performance in 2015. The platform grew more quickly than the industry average in AUA in both Q1 and Q2 2015.
• Strongest attributes in the eyes of advisers are ease of use, dedicated contacts, good support and a fair price.
We are unable to publicly disclose AXA Self Investor’s AUA figure.
Comment from Heather Hopkins, Research Director for Platforum:
AXA Wealth Elevate is much maligned by competitors as lacking direction and has a reputation for being difficult to work with. However, Platforum adviser reviews and AUA data suggest the firm is turning things around after a difficult 2014. The adviser platform outperformed competitors in AUA growth in Q1 and Q2. AXA has always been strong on pensions and so is a beneficiary of the pension reforms.
