AXA Wealth's Elevate wrap platform now has over £5 billion (about $8 billion) of assets under management, up from £3.5 billion at end-2011, a 40 per cent increase in assets since the start of 2012.

Elevate was launched in November 2008 as a stand-alone business before it was fully integrated into the AXA Wealth business in the first quarter of 2010. AuM grew from £320 million in Q1 2010 to £3.5 billion by the end of 2011.

Meanwhile, Elevate has unveiled a new tiered pricing model.

Those advisors with portfolios over £500,000 on the platform will be charged 0.28 per cent. Advisors with portfolios of between £100,000 and £499,999 will be charged 0.32 per cent. Those with between £25,000 and £99,999, and £0 and £14,999, will be charged 0.34 and 0.40 per cent respectively.

"2013 will bring its own challenges with the implementation of the Retail Distribution Review, but having already set out the arrangements for advisors using the Elevate platform in the new post-RDR environment we believe we are well-placed to continue to grow in the next 12 months," said Paul Riddell, head of strategic communications at AXA Wealth.