Barclays teams up with AXA Elevate platform

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Barclays is expanding its discretionary portfolio management (DPM) service to the AXA Wealth Elevate platform.

The link with the AXA Wealth, a sponsor of the Institute of Financial Planning, Elevate platform is a move to broaden the accessibility of the service ahead of RDR.
The Barclays DPM service was launched in April and aims to provide intermediaries with an outsourced investment solution through five managed portfolios.
Each portfolio is fully diversified across nine asset classes ranging from cash and short-maturity bonds to alternative trading strategies and invests in active and passive funds. The portfolios have corresponding levels of risk and allow intermediaries to select the most appropriate option for clients.

Bryan Parkinson, director of intermediary sales at Barclays, said: "Since we launched the discretionary management service earlier this year, we have been very encouraged by the interest from the industry and this has reinforced our commitment to make our offering as accessible as possible.
"The addition of AXA Wealth's Elevate platform is therefore a great step forward to offer the service to the broader intermediary market."
Mark Wilkinson, head of product at AXA Wealth, said: "We are committed to offering clients a range of investment choices, particularly in light of ongoing market volatility.
"Built with RDR in mind, Elevate has had a strong start to the year, with over £4bn in assets on the platform and the addition of Barclays DPM service makes using Elevate an even more attractive option."

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