Friday, 21 February 2014 09:23
53% rise in AXA Wealth's sales in 2013
AXA Wealth's sales rose by 53% last year to a total of £4.5bn, the company announced this morning.
The firm's assets under management grew 18% from £21.6bn to £25.5bn in the last 12 months.
Architas, AXA Wealth's specialist investment business, which includes products such as Sipps and onshore and offshore bonds outside wraps, rose 13 per cent from £11.3 billion to £12.8 billion.
The AXA Wealth Elevate platform saw assets under management up 41 per cent from £5.3 billion to £7.5 billion.
Mike Kellard, chief executive of AXA Wealth, said: "Confidence in the economy has increased and we have continued to outperform the market in terms of growth and last year's results give us a strong basis from which to build."
Pensions, including onshore bonds, went up 14 per cent from £8.2bn to £9.4bn, with sales increasing by 72 per cent from £909m to £1.6bn.
Mr Kellard said the company plans to invest further in 2014.
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He announced a £120,000 investment into research at the London School of Economics to better understand clients' needs.
He said: "We are committed to understanding investor behaviour, particularly as we need to overcome savings inertia, the complexity of financial jargon and consumer attitudes to accessing advice.
"The research will investigate how common individual behaviours drive consumers to make bad financial decisions, if indeed they make any financial decisions at all, and the outcomes that this leads to."
The firm's assets under management grew 18% from £21.6bn to £25.5bn in the last 12 months.
Architas, AXA Wealth's specialist investment business, which includes products such as Sipps and onshore and offshore bonds outside wraps, rose 13 per cent from £11.3 billion to £12.8 billion.
The AXA Wealth Elevate platform saw assets under management up 41 per cent from £5.3 billion to £7.5 billion.
Mike Kellard, chief executive of AXA Wealth, said: "Confidence in the economy has increased and we have continued to outperform the market in terms of growth and last year's results give us a strong basis from which to build."
Pensions, including onshore bonds, went up 14 per cent from £8.2bn to £9.4bn, with sales increasing by 72 per cent from £909m to £1.6bn.
Mr Kellard said the company plans to invest further in 2014.
{desktop}{/desktop}{mobile}{/mobile}
He announced a £120,000 investment into research at the London School of Economics to better understand clients' needs.
He said: "We are committed to understanding investor behaviour, particularly as we need to overcome savings inertia, the complexity of financial jargon and consumer attitudes to accessing advice.
"The research will investigate how common individual behaviours drive consumers to make bad financial decisions, if indeed they make any financial decisions at all, and the outcomes that this leads to."
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