Platform sales onto Elevate for the year to the end of December were up at £1.3bn, taking funds on the platform to £3.5bn, almost 20% of the total £18.9bn administered by Axa Wealth.
Architas, which was launched in July 2008, saw FUM increase by 23% to £9.4bn at the end of the year.
Total assets under management for Axa Wealth grew from £17.9bn to £18.9bn over the 12-month period, with platform business representing 42% of all individual sales.
Mike Kellard, CEO of Axa Wealth, said: "Axa Wealth remains committed to the entire advisory market. But it can’t be all things to all men. We must align our services to those advisers where we believe we can add the most value, with a tailored approach to support different types of adviser.
"In my view there is no company or IFA firm in the market today that will not have to change its business model over the next 12 to 18 months in order to deliver improved customer service, manage costs and to create a more sustainable and profitable business.
"At Axa Wealth we have had to take some bold decisions over the past couple of years. Some have questioned our strategy, but many more championed our fresh approach," he concluded.
