AXA, the French financial services group, has launched a new wealth management initiative in the UK, which will target clients through inter...

AXA, the French financial services group, has launched a new wealth management initiative in the UK, which will target clients through intermediaries. The new initiative will give independent financial advisors a “portfolio planner” tool, which will reduce time IFAs spend on administration and allow them more time to spend on servicing clients, AXA said. It will also give clients access to a further 25 funds from AXA and will improve the pricing of AXA’s Premium Select Bond. “This is the beginning of an ambitious programme of fund and service enhancements to meet the needs of intermediaries and their clients. We have expansive plans to build our market further in funds distribution,” said AXA’s head of funds development, Mike Mumford, in a statement. He added: “Our plans will enable AXA to offer a complete range of services and investment solutions to all types of intermediary backed with innovative support to the advice process.” AXA said that core to its wealth management offering will be a new extended fund range from the AXA stable of investment companies. The new range of 25 funds will include a selection of funds from AXA’s World Funds range, funds managed by AXA Rosenberg as well as the existing range of funds already offered in the UK. The funds will initially be available to the Premium Select Bond and the Evolution Bond offered through AXA Isle of Man. Investors will have access to the new AXA Group funds in addition to the 80 external funds offered in the Premium Select Bond and unlimited range of external funds available through the Evolution Bond. Within the Portfolio Planner, AXA will offer two suggested model portfolios. The first will be made up of funds from within the extended AXA Fund range and has been compiled by AXA Multimanager. The second is made up of funds from across the funds universe and has been compiled by Old Broad Street Research. “By allowing IFAs constant access to the performance and risk classification of their clients’ investments, IFAs can manage client expectations and provide the necessary audit trails required for compliance purposes,” said the statement.