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
A financial advice firm has seen a weekly decline of 10 advisers, with all moving to a new licensee, while Centrepoint Alliance continues its “growth story”.
Sequoia Financial Group has seen a top-level reshuffle as the chair of the board, John Larsen, steps down after five years in the position.
As statements of advice move into the rear-view mirror, Vital Business Partners explores how financial advisers are adopting innovative documentation strategies.
Adviser Ratings has explored whether there is a financial benefit to advice firms seeking to have a specialised client base in terms of client assets and fees charged.