Assets for AXA Wealth's multi-manager investment arm, Architas, reached £14 billion, up 5 per cent from the first half of last year. Funds managed by the business's wrap platform jumped 20 per cent to £10 billion while its SIPP and investment platform grew 4 per cent to £18.2 billion at the end of June.

The wealth manager further highlighted that its 3 per cent year-on-year growth in retail sales to £1.8 billion came in spite of a backdrop of stock market volatility. Its retail pension sales increased 10 per cent to £671 million.

“While markets have been highly volatile this year, we are very pleased with our progress over the past year. Providing access to all of the pension freedoms for advisors and their clients was our main priority and I am very pleased that we were able to offer them across our pension range,” said AXA Wealth's chief executive, Mike Kellard.

“My core priority for the rest of 2015 and 2016 is to invest heavily in our service model, with a new customer academy at the heart of the programme. We’ve already invested over £2 million in our service systems development this year and in improving the overall advisor experience.”

Earlier this year, AXA Group revealed in its full-year results statement for 2014 that its wealth management business had moved into profitability.