AXA unveils new North

Just days before the completion of the AXA/AMP merger, AXA Australia has unveiled its updated North platform offer.

The company said the updated platform had been developed based on adviser research and would address the changing landscape of both financial advice and client demographics.

AXA’s general manager sales and marketing, Adrian Emery (pictured), said the investment platforms of the future would also need to deliver different solutions for clients’ changing needs over their life.

"Early in your life you will have significant human capital to protect, so your long term retirement funding is often considered a distant priority," Emery said. "In this phase, income and life insurance is critical while investment options need to be simple ‘low maintenance’ options."

As clients become more established and their discretionary income grows, their needs and priorities would change, according to Emery, as would be the case when they approach and enter retirement.

He said the new North platform would address all four life stages, eliminating the need for advisers to move their clients into different platforms once their investment strategy changes.

North will now offer 144 funds, direct share trading and exchange-traded funds capabilities as well as 24/7 access to news and research.

AMP’s managing director, Craig Meller, who had also been part of adviser briefings around the country, said that once the merger between the two businesses was complete, the North platform would be the first wrap owned by AMP.

He added that AMP has not yet made a decision about how it would proceed with badged BT Wrap, Asgard and Macquarie platforms after the merger.