Axa Wealth is rolling out a new automatic re-registration system on its Elevate platform that will enable advisors to undertake electronic platform-to-platform transfers of assets.

The firm said it has been working with technology provider FNZ and global fund transaction network Calastone to trial and deliver the system for advisors, which will go live this month.

“As founding members of the Tax Incentivised Savings Association re-registration group we have been central to the industry push for an agreement. To begin the roll out of the system on the Elevate platform is a key development in our commitment to advisors. The system will continue to be developed and enhanced during the rest of the year," said Andrew Smith, chief operating officer of Elevate at AXA Wealth.

According to the Fundscape Q1 2013 Platform Report released in May, the Elevate platform ranked first in terms of asset growth in percentage terms. Elevate broke through the $6 billion ($9.1 billion) ceiling with asset growth recorded at 14 per cent, the report said.