Phoenix Group, the UK’s largest consolidator of closed life and pension funds, acquired AXA Wealth’s non-platform investment and pension business in 2016. As part of this acquisition, the AXA Wealth business will be rebranded to Phoenix Wealth, with the change scheduled to take place on 1 July 2017.
The business includes a group SIPP (Family Suntrust), a number of individual pensions (including the well-known Retirement Wealth Account) and a versatile investment bond.
Andy Moss, CEO of Phoenix Life, said “We are delighted to confirm the rebrand to Phoenix Wealth and very much look forward to continuing to deliver the service proposition previously delivered by AXA Wealth.”
Customers and their advisers have received written communications to make them aware of the rebrand, including confirmation that there will be no changes to the features, terms and conditions or the ability to top up existing policies.
We recognise how important the on-line offering is to advisers and their customers and we are committed to continue to offer this key service.
Mike Shrimpton, Chief Operating Officer of Phoenix Wealth added that the past 12 months has been a period of intense activity to make the appropriate changes to the websites, supporting literature and servicing model, ensuring that the individual strengths of the AXA Wealth and Phoenix models are combined to make a strong solution, whilst ensuring customer service standards and accessibility are maintained.
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Enquiries
Shellie Wells
Head of Corporate Communications
Phoenix Group
020 3735 0922 / 07872 414 137
shellie.wells@thephoenixgroup.com
Darcy Lillie
Media Relations Consultant
Phoenix Group
020 3735 0102 / 07814 773 280
darcy.lillie@thephoenixgroup.com
Additional changes will be announced later in 2017 to complete the final aspects of the purchase. AXA will continue to be mentioned in the small print of some literature items until the legal entities are changed. Further details of these changes will be provided nearer the implementation date.
Notes to editors
Phoenix Group is the UK’s largest specialist consolidator of closed life funds with over 6.1 million policyholders and £76 billion of assets held by the Group’s life companies, including the acquired Abbey Life, AXA Wealth and SunLife businesses. The Group employs around 1,300 people split across the Group, with around 600 based at Wythall, its main operating centre.
