Elevate expands model portfolio range

Axa Wealth’s platform Elevate has partnered with discretionary managers Investec Wealth & Investment and Mercater Capital Management.

Its link-up with Investec Wealth & Investment, formerly Rensburg Shepphard, sees the discretionary manager launch a range of six adjusted model portfolios on Elevate.

The portfolios are designed to provide an additional suite of options for IFAs in the run up to the Retail Distribution Review (RDR).

Meanwhile, discretionary fund management firm Mercater Capital Management has launched five risk-graded model portfolios on Elevate.

Mercater chief executive officer Alaric Gordon said: "The partnership with Elevate will allow us to offer the benefits of our discretionary management capabilities at a competitive cost across a variety of products, all within the one platform."

Expansion of Axa Wealth's discretionary offering comes on the back of the firm announcing Q2 sales for Elevate rose 107%, bringing total platform AUM to nearly £3bn.

Speaking after release of the results, chief executive officer Mike Kellard also revealed Axa Wealth is launching an execution-only platform in a bid to help IFAs service "orphan clients".