Wealth firm reports jump in funds under management to £27 billion
Axa Wealth has reported its overall funds under management have grown 10 per cent to £27billion in the last 12 months.
Funds on AXA Wealth's Elevate platform were also up 26 per cent to £8.8 billion, while Architas assets stood at £13.3 billion, a rise of six per cent.
The third quarter 2014 financial results, showed AXA Wealth total retail sales were up three per cent to £2.5 billion over the same period.
Funds under management for the AXA Wealth pensions and investment range totalled £18.2 billion.
Pension sales went up 23 per cent from £301 million to £371 million.
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Mike Kellard, chief executive officer of AXA Wealth, which is an IFP corporate member, said: "Most people would agree that 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.
"While we've enjoyed another successful year so far at AXA Wealth, 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.
"Our job is to work hard on the fundamentals to make financial planning and investing as easy as possible for advisers and their clients and families. We've come a long way but there is still a lot to do."
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