AXA Wealth FUM rise

The wealth manager’s FUM rose from £24.6bn to £27bn between Q3 2013 and Q3 2014 while total retail sales grew by 3% to £2.5bn

AXA Wealth FUM rise

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The wealth manager’s FUM rose from £24.6bn to £27bn between Q3 2013 and Q3 2014, while total retail sales grew by 3% to £2.5bn in the same period.

AXA’s online investment platform Elevate saw funds hit £8.8bn, a growth of 26%, with inflows increasing by 2% to £2.6bn.

There was also upward movement in the company’s other arms, with FUM in its retirement and investment range totalling £18.2bn while offshore FUM rose 6% to £9.3bn.

Assets in the company’s Architas division jumped by 6% to £13.3bn, boosted by the house’s multi-asset blended range collecting a portfolio worth £1bn in the last two years.

Mike Kellard, chief executive officer, AXA Wealth, said: “The last couple of years have been transformational for the industry. RDR brought with it fresh opportunities for the industry to re-connect with the public, and the sweeping changes announced in this year’s Budget were dramatic.

“All of our focus is now on making sure we have one of the best retirement propositions in the market in response to the sweeping pensions and savings reforms. We also need to deepen and broaden our appeal with advisers new and existing, through better engagement and improvements in our service and support. We’ve come a long way but there is still a lot to do.”

As part of this focus AXA also appointed Mike Shrimpton last month as customer services director, as well as launching a range of investment options via Intelligent Investment Choices proposition.

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