AXA makes best of bad situation
In an inspired marketing move AXA Asia Pacific is using the Australian Competition and Consumer Commission’s (ACCC) blocking of National Australia Bank’s (NAB’s) proposed takeover of the company to sell its North platform — the product that ultimately sank the bid.
A national advertising campaign launched by AXA today and to be run over the next fortnight seeks to make a silver lining out of the ACCC’s stymieing of its proposed marriage with NAB.
“AXA’s North. The one investment platform so hot the ACCC didn’t want a bank to nab it,” one ad reads.
And: “A bank can’t get their hands on AXA’s North. But you can.”
In the fine print the group states the ACCC opposed the deal “because of the innovative North platform”, before outlining the features of its North investment guarantee and directing potential clients to see a financial adviser.
Recommended for you
With the highest number of candidates in a year sitting the latest financial advice exam, a surge of new entrants are expected in the coming weeks, according to Wealth Data.
AMP has launched a range of five diversified index managed portfolios on its North investment platform, targeting a younger client demographic.
An NSW adviser, who advised over 120 clients after falsifying her financial advice exam results, has been permanently banned by ASIC.
ASIC has released the results from the latest financial adviser exam, the first to be run since changes to its structure earlier this year.