AXA Elevate lowers platform cashback deal

Under the current deal, Elevate users who buy the group's Architas multi-manager range via the wrap get the annual platform charge - which varies between 0.65% to 0.14% - waived in full as part of a "cashback" offer. However, from 2013, the group is amending the cashback deal, offering a 75% rebate of Elevate's portfolio charge instead of 100%. The rebate will continue to be paid annually into the client's cash account as long as they remain invested in the fund. AXA Wealth - which is responsible for the Elevate platform - said while the new deal was not as generous as 2012's offer...