Skandia adds Axa Elevate to platforms comparison tool

Skandia has added the Axa platform’s bundled and unblundled charging structure to its Platformwatch tool, bringing to seven the number of platforms IFAs can now compare prices on.

Advisers can now get like-for-like price comparisons across the Axa, Skandia, Transact, Cofunds, FundsNetwork, Nucleus and Standard Life wraps on a portfolio, product and fund level.

Data on Platformwatch is updated quarterly and, besides Cofunds and FundsNetwork - whose pricing information is in the public domain - information on the other platforms has been gleaned from financial advisers.

Platformwatch, which Skandia says is the only platform price comparison site in the market, can compare platform costs for an entire portfolio - including pensions, ISAs and OEICs - or individual tax wrappers.

The tool also contains a ‘charges uncovered' guide for advisers, illustrating the charging structure of each platform.

"Advisers have told us that Axa's bundled and unbundled structures are hard to understand and that it's often difficult to determine what these two charging structures mean for the end client," says Skandia platform marketing manager Jeremy Mugridge.

"The inclusion of Axa's pricing data on Platformwatch means advisers can now see a clear breakdown of both structures and compare these directly with the major platforms in the market.

"Our aim is to provide further clarity in the area of platform pricing and help advisers in determining which platform is most suitable for their clients."